The irony is: the original theory of capitalism (in contrast with the clusterfuck that we have now) was based on the idea that competition breeds innovation - because those who didn’t innovate would go out of business due to being surpassed by the others.
I don’t work in manufacturing, in work for a giant popular retail company.
I swear to Christ, I have zero clue how it has survived under the gross incompetence of our leadership. I have never witnessed such stupidity in all my life.
These guys are beyond the pale. Getting mad and emotional and making stupid decisions on vibes. When their nonsense fails, they just blame it on anything but themselves and do the next dumb thing. If we didn’t have stores everywhere, we would be dead. We only survive because you can’t swing a dead cat without hitting one.
They have subsidize the shit out of their industry by keeping their citizens capital tied up in their banking, housing and stock market. It is hard to get capital out of China now and only the very wealthy can pull it off.
So yes if the government took a good chunk of the interest or revenues you’d make from your investments yes you can have the same subsidized industries.
In their defense they are also willing to let bad companies go under which is something the US hasn’t done since the 90s.
China still calls itself “communist with Chinese characteristics”. They quite openly gave their companies strategic goals to fulfill.
It’s all the dorks thinking they could get hold of that sweet big market if only they gave China enough concessions. And there it was always only for the bosses and owners to participate in the windfall, employees be damned. They were played big time and payed themselves huge bonuses in the mean time for selling us out.
They have more than two times the population of the EU and US combined, and the manufacturing capacity for basically the rest of the world.
They have enough population so that whenever there’s a new tech/infrastructure to spin up, they’ll do it internally and then come out internationally with a finished & field-tested version of that product.
They also have more PHDs, research and patents than anywhere else in the world, integrated in their industrial ecosystem. That’s like a silicon valley but for basically every field of manufature, research etc.
And to address your first paragraph: Yes, if instead of value extraction for shareholders, which is literally capitalism, we reinvested all of that cash back into the economy as subsidies, we would also be thriving. That’s not a diss on China, that’s a failure on the US/EU.
The population figures you’ve cited coming out of China are dubious at best. Births have been repeatedly found to be overstated and school age populations are plummeting faster than anticipated because of local corruption when reporting their birth figures. Bottom line China is rapidly aging with few young workers to take the place of their existing workforce. That isn’t to say there isn’t a lot of them, but it isn’t nearly enough to sustain anything closely to replacement.
You missed the point entirely about my capital markets comment. Put simply the CCP direct any profits the average citizen has with their capital to subsidize industries. The citizen sees no benefit from their work only an elite few who have connections with the CCP do.
It’s akin to the US government directing capital towards building data centers which consume millions of gallons of fresh water, get subsidized electricity and a elite few who will benefit from their creation while local citizens bear the brunt of utility increases. However in the US you can fight it and vote in a new governing party to stop it. In China there is only the CCP so they just have to endure it. The West isn’t perfect but if you feel the CCP has a superior system I’d question your judgement.
The irony is: the original theory of capitalism (in contrast with the clusterfuck that we have now) was based on the idea that competition breeds innovation - because those who didn’t innovate would go out of business due to being surpassed by the others.
And China is kinda steamrolling US in a lot of markets right now.
Mostly in the areas of custom fabs, general manufacturing and not being run by fucking idiots.
I don’t work in manufacturing, in work for a giant popular retail company.
I swear to Christ, I have zero clue how it has survived under the gross incompetence of our leadership. I have never witnessed such stupidity in all my life.
These guys are beyond the pale. Getting mad and emotional and making stupid decisions on vibes. When their nonsense fails, they just blame it on anything but themselves and do the next dumb thing. If we didn’t have stores everywhere, we would be dead. We only survive because you can’t swing a dead cat without hitting one.
They have subsidize the shit out of their industry by keeping their citizens capital tied up in their banking, housing and stock market. It is hard to get capital out of China now and only the very wealthy can pull it off.
So yes if the government took a good chunk of the interest or revenues you’d make from your investments yes you can have the same subsidized industries.
In their defense they are also willing to let bad companies go under which is something the US hasn’t done since the 90s.
China still calls itself “communist with Chinese characteristics”. They quite openly gave their companies strategic goals to fulfill.
It’s all the dorks thinking they could get hold of that sweet big market if only they gave China enough concessions. And there it was always only for the bosses and owners to participate in the windfall, employees be damned. They were played big time and payed themselves huge bonuses in the mean time for selling us out.
That’s kind of missing the forest for the trees
They have more than two times the population of the EU and US combined, and the manufacturing capacity for basically the rest of the world.
They have enough population so that whenever there’s a new tech/infrastructure to spin up, they’ll do it internally and then come out internationally with a finished & field-tested version of that product.
They also have more PHDs, research and patents than anywhere else in the world, integrated in their industrial ecosystem. That’s like a silicon valley but for basically every field of manufature, research etc.
And to address your first paragraph: Yes, if instead of value extraction for shareholders, which is literally capitalism, we reinvested all of that cash back into the economy as subsidies, we would also be thriving. That’s not a diss on China, that’s a failure on the US/EU.
The population figures you’ve cited coming out of China are dubious at best. Births have been repeatedly found to be overstated and school age populations are plummeting faster than anticipated because of local corruption when reporting their birth figures. Bottom line China is rapidly aging with few young workers to take the place of their existing workforce. That isn’t to say there isn’t a lot of them, but it isn’t nearly enough to sustain anything closely to replacement.
You missed the point entirely about my capital markets comment. Put simply the CCP direct any profits the average citizen has with their capital to subsidize industries. The citizen sees no benefit from their work only an elite few who have connections with the CCP do.
It’s akin to the US government directing capital towards building data centers which consume millions of gallons of fresh water, get subsidized electricity and a elite few who will benefit from their creation while local citizens bear the brunt of utility increases. However in the US you can fight it and vote in a new governing party to stop it. In China there is only the CCP so they just have to endure it. The West isn’t perfect but if you feel the CCP has a superior system I’d question your judgement.
That was the lie that was sold. It has always been about exploitation.