"I’ve never bought into the hype that China would soon become the worlds global economic super power.
They don’t innovate, they steal.
They inflate their numbers by building highways nobody drives on to cities nobody lives in.
It’s a sham designed to promote buy-in for statism.
It’s a lie that western fans of big government are happy to repeat and promote.
Free markets work better than central control, every time. China (also N. Korea and Venezuela) have announced that they’ll soon begin using a new social credit system.
Every citizen will be issued a card, or perhaps in the future an implanted chip or tattoo, that is linked to their profile.
They will be rewarded for activities and choices the state likes and punished for those the state does not.
Of course the state has a lot more punishment than it has reward, so i expect it will be a lot of stick and very little carrot.
...This is a great experiment.
China says they’ll have their system completely up and running by the end of 2020.
One of two things will happen.
China’s economy and individual quality of life will plummet faster than it is now, or I’m completely wrong and they’ll build the perfect society for the future that we’ll all happily adopt.
I hope the western press pays attention and honestly reports on what’s going on in China over the next several years.
...Pundits tell you what people think they think.
Cash flow shows you what they’re actually doing.
Follow the money."
Read on.
1 comment:
A few years ago, reinforcement rod for concrete had a huge price spike, and suppliers told us if we didn't like the price, China was buying all it could buy. This lasted for a few years, and then things changed.
I spoke with someone that was familiar with what China was trying to accomplish, which was attract more business by building offices, infrastructure, and anything else they thought was necessary for expansion. Whether it was a good idea, or not, the buildings remained empty, the roads unused, and China didn't need the materials they once needed.
The cost must have been tremendous. A private enterprise practicing such things would have been bankrupted. China continues on, but the economic impact will be felt for a long time.
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