Hate to jump a post but this is another excellent documentary.... the is what union busting left in its wake....this is basically a companion piece to American Factory. These are the people that have been disinter-mediated from their prior middle class existence.wgdsr wrote: ↑Thu Apr 09, 2020 9:48 pmwill take that bet. they have the population under their control.Farfromgeneva wrote: ↑Thu Apr 09, 2020 9:19 pm When I was in grad school mid 2000s they were already teaching us that China was coming to eat our lunch like Japan was in the 80s. I've been skeptical largely because I don't believe in their pitch of controlled/modified capitalism, they fundamentally don't have property rights be it IP or tangible assets which reduces liquidity and the velocity of transactions required to be a economic world leader and the lack of transparency throughout the system creates a lack of confidence from the rest of the world required to say "yeah, when times are tough I want that dirt or hold assets in Renimbi/Yuan" or "we should really hold the majority of our reserves for the world on fire rainy day in chinese currency".
But my economics brain, which as we know is far different that business finance, says that this theoretical advantage they have is all driven by population, cheap labor. However intro Macro (refined beyond that level) teaches that there's an optimal mix of means of production including labor, capital, etc. Admittedly I've only watched part of American Factory but I think what we see is that China's supposed population/labor advantage may be overrated as they are leaning to hard on labor and it's not the right mix to be considered optimal. And the downside is when that working age population grays their downside will be a hell of a lot harder. The window isn't huge for them now and I don't see them getting to the right place in time to step on our throats.
they have every globally ambitious business in the world drooling at their audience. to the point they're subservient as well.
they don't, and maybe never will, pretend to share real info that doesn't benefit them. including with this virus.
they will lie, cheat, steal, do "bad" trade deals knowing we crave their business. and more disciplined than about everyone.
they have likely 25-100 k covid deaths. they're listed at 3k. every public narrative is the one they want. that's invaluable.
First break the unions, then buyout older employed making a decent wage, hire young people to work for 1/2 the wage, then move the jobs to people who will work for 1/4..... then complain about China and get angry.
