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0 pointsilikerashers1y ago0 comments

Seems like China will do as well as the US lets it. It has little domestic consumption and is reliant on exports to the US.

Maybe China will have strong consumers in the future but then it'll have to ensure it can compete with US wages which erodes its competitiveness.

House always wins.

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realusername1y ago

I personally think it's due to Xi Jinping idiotic economic policies more than anything else, sure US policies helped but it wouldn't work either way.

They based their economy way too much on export and real estate to grow at a normal rate. The worst covid lock down in the world certainly didn't help.

The country is lagging behind because of their contradictions.

ilikerashersOP1y ago

I agree with that. The thing that made them grow so quickly is now going to force them into reliance.

Encouraging consumption by creating more welfare programs, spreading corporate wealth to citizens via share schemes etc would be a way of changing this but I don't see this fitting into the Marxist production machine.

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