Beijing will open the world's largest airport this year. It will handle 620,000 flights and 100 million passengers per year. https://en.wikipedia.org/wiki/Beijing_Daxing_International_Airport …https://twitter.com/PDChina/status/1080981580737175552 …
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Boondoggle? Efficient allocation of capital in a country as enormous as China cannot be done without real market prices and a private banking system. See Hayek for details.
Their goal isn't to allocate capital efficiently. Their goal is geopolitical hegemony.
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Yes, but those are the savings of the Chinese working classes that they are squandering, on which they are counting for support in old age. That may cause a problem if the money isn't there I imagine.
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