It’s hard to upgrade the ingrained image of China I got from old movies and Chinatowns. Letting a billion humans seek their own future sure has consequences.
I visited 8 Chinese factories in 8 days… MIND-BLOWING!
The Captain
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I liked the part where the parents we out shopping their kids for marriage partners. I assume that’s fallout from the “One Child” policy.
intercst
The other side of China - 10 million plus new graduates for which there are no jobs:
Too many mixed messages coming out of China
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China is also heading into demographic crisis. The number of retired people is projected to exceed those in work by around 2060. By even 2035 there will be two workers supporting one retired person:
Not looking too good is it?
{{ ### China: working-age adults to elderly ratio 2100 | }}
Economists have been saying that for years, 'China is going to get old, before it gets wealthy – we’re overestimating it’s threat."
intercs"
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Not the other side of China! Meritocracy does not mean perfect outcome, there are winners and losers and the system self corrects by killing off what is not needed.
Imagine a stock market where no one ever loses. imagine horse racing where no one ever loses. It’s just not possible. Live with it, the alternative is to make everyone, with the exception of a small cadre of elites, dirt poor like the Chinese were under Mao before they adopted Capitalism.
Not the other side, the self correcting side.
BTW, losers outnumber MANY to ONE.
The Captain
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I’m not sure how much of a meritocracy China is. When Costco originally tried to open in China, government corruption infuriated CEO Jim Sinegal to the point that he refused to operate in China for the next 30 years.
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Don’t expect perfection, just look Exceptionalissimo America. Boeing, Enron, Vioxx, obesity, etc. etc. etc.
The Captain
We all know about the lack of babies. Now marriages are declining.
Some 4.74 million Chinese couples registered their marriages in the first three quarters of 2024, a decrease of 16.6% from the 5.69 million recorded in the same period last year, according to data released by the Ministry of Civil Affairs on Friday.
DB2