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by Retric
5781 days ago
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From the western perspective a prosperous China is a good thing. Unfortunately, China is speeding towards one of the largest economic walls the world has ever seen. Mix a rapidly aging population, high levels of corruption, high savings rates, and an unstable government and you have a recipe for disaster. Growing the Chinese GDP to 3 or 4 times its current size should still be easy, but as per person income starts to approach Japan it’s going to be really rough sailing. |
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