alt Hacker NewsAbsolutely true. But China’s industrial dominance is also the government immiserating its people, just in a different way. Domestic consumption in China is famously low, work culture is famously bad (996,etc). And this is because of what their government, not the people of China, have chosen to do.
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>But China’s industrial dominance is also the government immiserating its people
Didn't they bring hundreds of millions out of poverty, and built amazing cities and facilities in the past 30 years?
>Domestic consumption in China is famously low
Compared to what, the US? Compared to China is at a historical high, isn't it? And they're doing quite well even compared to like 70% of the world and rising.
Work Culture is famously bad? Look I get 996. The Youth seem like they are either next level burned out or on a treadmill that never ends(due to the 25% youth unemployment, the deflation happening and the extreme overabundance of educated professionals). Both are not good. But the original comment listed stellar companies and products that wipe the floor with American made junk. You don't get that without some extensive hard work. Stealing only takes to so far, you gotta do a lot more on top of that.
Consumption is not just low, it’s intentionally suppressed.
Not for nothing, but what do you think is happening in the United States?
American workers have lost income on inflation adjusted terms from 2000-2025. The top 5 companies have a market cap that exceeds the top 30 in 2000, and the concentration of those companies is a single industry vs a diverse collection.
Consolidation of power and capital is reality everywhere. China is not a boogeyman. Go there.