| HN Mirror

>I'm flabbergasted that you look at the Chinese property crisis and say "only the West does irresponsible loans." No, 60% of China's economy is state-run companies and the remaining 40% need political officers. China is just as capable of making shortsighted decisions as the US, and they have already made several devastating ones.

While these are hardly shy claims, I don't see anything in them to say "only the West does irresponsible loans"?

> The West is in a state of psychosis with Debt and Monopolies under the illusion of free market.

> The Chinese markets are more free than West, you can just look at the Auto and AI industry.

or the prior post

>Usury and debt based economy creates a dynamic where being competitive in production is secondary to financialistion.

> In short, instead of market being driven by demand and productivity, it is driven by financier curving out monopolies.

> Peak Examples are Uber and AirBnB.

You can throw a rock these days and find a category where the products coming out of China are miles ahead of those coming out of the rest of the world, from a bunch of companies nobody had heard of a few years earlier. And the list is growing pretty steadily.

I would assume plenty of shortsighted decisions are also being made. But I would have a hard time characterizing the state of competition in the west as healthier or more productive when looking at the number of players and the quality of goods being produced in China.