China has very good physical engineering as demonstrated by the speed of development. However, there are also many overdoings in the physical engineering space: underutilized roads, empty high-rise concrete buildings, and sometimes a whole city. Productions often scale up before gaining a skill edge and sell cheaply to compensate. Time to get some "golden mean" by letting ppl to feedback on things
Well said，Mr. Roach. I understand your usual sensitivity of not directly criticizing the regime by framing the problem as a value proposition issue instead of pointing straight to the core problem - a monopoly of political and socio-economical powers!
Are you really accusing China of not doing sufficient “social engineering”? Wow, what happened to liberalism?
I am with J Sachs on this. China’s high savings rate is nothing to be ashamed of, it will help fund much needed investments in Africa and elsewhere. One day the Chinese savings rate will fall, it will not be high forever.
Meanwhile, economists should figure out how to channel Chinese savings into long term investments (at low interest rates) in Africa and elsewhere. The private financial short term volatile lending is failing Africa.
Is it ironic that, by basing your analyses on stats and theories, you fall prey to the same pitfalls as China's leaders?
How about moving to China in 2025? Start from the SARs and write your dispatches in a different city or province every time you make your way northwards. I bet your perspective would be richer for it.
My gripe with all China-related analyses is an inability to be appropriately humble before the unprecedented spectacle of a middle-income continent-size nation of billions grappling with the stresses of urban life in the 21st century.
There won't be another China in the lifetimes of everybody reading this. But everybody is too busy trying to move the people like chess pieces to appreciate that fact.
At this point, China is China. Folks might as well make their peace with that and simply bear witness!
China has very good physical engineering as demonstrated by the speed of development. However, there are also many overdoings in the physical engineering space: underutilized roads, empty high-rise concrete buildings, and sometimes a whole city. Productions often scale up before gaining a skill edge and sell cheaply to compensate. Time to get some "golden mean" by letting ppl to feedback on things
Well said，Mr. Roach. I understand your usual sensitivity of not directly criticizing the regime by framing the problem as a value proposition issue instead of pointing straight to the core problem - a monopoly of political and socio-economical powers!
Are you really accusing China of not doing sufficient “social engineering”? Wow, what happened to liberalism?
I am with J Sachs on this. China’s high savings rate is nothing to be ashamed of, it will help fund much needed investments in Africa and elsewhere. One day the Chinese savings rate will fall, it will not be high forever.
Meanwhile, economists should figure out how to channel Chinese savings into long term investments (at low interest rates) in Africa and elsewhere. The private financial short term volatile lending is failing Africa.
To the contrary, I am arguing that China’s social engineering has failed — stymied by the repressive excesses of CPC discipline.
Is it ironic that, by basing your analyses on stats and theories, you fall prey to the same pitfalls as China's leaders?
How about moving to China in 2025? Start from the SARs and write your dispatches in a different city or province every time you make your way northwards. I bet your perspective would be richer for it.
My gripe with all China-related analyses is an inability to be appropriately humble before the unprecedented spectacle of a middle-income continent-size nation of billions grappling with the stresses of urban life in the 21st century.
There won't be another China in the lifetimes of everybody reading this. But everybody is too busy trying to move the people like chess pieces to appreciate that fact.
At this point, China is China. Folks might as well make their peace with that and simply bear witness!
Happy New Year!