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China built an economy that's like 50% based on bullshitting to your superiors about how much infrastructure you built.
They also overbuilt infrastructure and entire housing complexes sit empty. So is it both?
Housing which is shit and often unsuitable for habitation:
https://en.wikipedia.org/wiki/Tofu-dreg_project
And to be clear, they've built a lot of infrastructure, but it's often underbuilt. Eg. they'll build huge projects or even residential districts, but save money by not ensuring there's sufficient drainage. Result: fancy stadium, looks better than many a western stadium, cost less to build, fancier, looks higher quality, what you see may even be better quality, built in record time, but when it rains everyone's walking in poo water.
Southern and central China are drowning. Since June 18, the regions have suffered their worst bout of flooding in a decade, furthered by a category 4 typhoon that hit the mainland after sweeping through Taiwan Friday morning, local time.
Tofu dreg
So much both
At a micro level, theres a lot of low quality products. Things that look okay on their face, but fall apart with any minor inspection.
I wonder if that's deep down the problem for China, beyond products.
It's what happens when you build a culture around "saving face" rather than competence. And then kill 10% of the population, targeting the productive and educated.
the Chinese stock market has LOST 13% of its value over the past 10-11 years, while the US market has doubled.. more context
Not that it is a net good thing, as that has done next to nothing for the general population. The US way has the manipulation coming from the inside, the Chinese way has it coming from government entities. Both are damaging. Both are not good for the most vulnerable. I feel the US way is a bit more correctable without extreme upheaval, though.
this post was submitted on 04 Feb 2024
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