China is following the playbook of Japan, South Korea, Taiwan and similar countries. The all used window guidance to quickly grow targeted industries, which actually worked very well. All of them are wealthy countries today. However that dependence on how good the window guidance is. They take on a lot of debt to invest and it only works as long as the investment is actually smart. If not the debt increases and that causes massive problems down the line. So it creates a bubble and when it pops it hurts badly. After decades of growth those bubbles probably are nasty.
These two aren’t necessarily mutually exclusive.
Agreed. I'm not saying that "collapse is imminent is accurate", but don't act like these are mutually exclusive when the idiom "a candle that burns twice as bright burns half as long" is accurate (to itself - literally the candle).
Yeah. Anyway what’s with the weird fixation this website has for china? The whole frontage is constantly spammed with memes praising the CCP.