Ping.
China is in trouble if it hits a recession. The land ownership bubble is huge. And the overbuilding is ridiculous. Also, the quality control does not exist. But the pollution does. Pollution of every form in China is greater than humanity has ever endured.
Pei Ping.
This is fascinating. Thanks for posting.
I was somewhat surprised the government is putting policies in place to “propel the transition from a manufacturing to a service-based economy.” Its rather ironic we are working feverishly in the US to re-grow our manufacturing base that largely left for China. Why would China want to do this? Are wages and salaries already so high that they cannot compete with Vietnam Nam and other cheap SE Asian countries?
It’s funny — here in Idaho, people have been doing whatever it takes to survive and prosper for generations. We had a “gig economy” long before it was called a “gig economy.” I remember my grandfather doing all sorts of different work to make ends meet in the 60s. He was a farmer, company mercantile store manager, rat exterminator, roller rink operator, barkeep and recycled cans he found for a few more dollars. Whatever it took to make it in the world. Really nothing new here except the Internet makes it easier to find the work instead of having to wear out shoe leather pounding the pavement.
The Gig economy is also fundamentally Chinese .Entrepreneurs have been stifled Freedom to act in one's own self interest has been wholeheartedly accepted. Chicaps have emerged by the millions, perhaps tens of millions.
Am curious if this young woman, Viola Rothschild is connected to the Rothschild family at all.
She is a Fulbright scholar from Bowdoin College, then Oxford, member of Council on Foreign Relations. Writing for FP.com, owned by Washingtonpost group (Jeff Bezos)
There are some interesting YouTube videos about foreigners doing “gig” jobs in China, as phony DJs, people put in meetings to make an impression you have foreigners involved in your company etc.
These are supposedly called “white monkey” jobs because you just jump around but have no brains and really aren’t there for anything but show. As can be guessed there is no political correctness in China.
Like my ol’ pappy used to tell me: If you’re not driving close to the edge, you’re just wasting good concrete
Interesting, thank you.
China is trying to manage a mix of capitalism and Communism. It won’t work for long.
To keep the allegiance of the Party, Xi has to give “insiders” plenty of opportunity for graft. But doing so pits them against the market.