https://www.resetera.com/threads/citations-needed-podcast-the-neoliberal-optimism-industry.83948/give me your money and i'll tell you daily that it's going to be okay.
https://www.resetera.com/threads/citations-needed-podcast-the-neoliberal-optimism-industry.83948/give me your money and i'll tell you daily that it's going to be okay.
Count on it.Don't worry, the public will bail the companies out while you're busy firing everyone. Same as always.
To an extent. In most cases they're beholden to share holders.
You have to consider that only even in recent years did accounting practices and principles start being followed. Additionally It's widely known banks there offer hoards of loans and cash that are then backed by the government meaning lots of Chinese individuals take this money invest elsewhere (see US housing market) with little concern of default.
China does a lot of things right but their appetite for growth and need to become a global power has pushed their government to use incredibly questionable practices to stimulate growth (see currently with their stock market). Unfortately given its communist state a lot of what is done is not shared publicly and there's few checks and balances.
It's not sustainable and as a previous poster said when entire Chinese cities are building mega skyscrapers yet none of the lights are on, at some point they are all going to crash and burn.
glorious orange leader said he loved the last recession because he was able to buy up a lot of property dirt cheap.
Fuck capitalism.
There's good money in singing lullabies to CEOs, I'd take that gig as well.
That's what China is doing. Russia too.
Funny how they don't fear climate change when that's what''ll bring this whole thing down like a house of cards.
There's good money in singing lullabies to CEOs, I'd take that gig as well.
CEOs: We're deadly terrified of a recession as a result of wealth distribution to the already obscenely rich.
Leftist: Then how about higher marginal taxes and higher worker wages to redistribute wealth back in the public domain and bolster consumer stability?
CEOs: No
It's sustainable if China wins the AI wars which right now they're doing. AI Is going to be such an economic disruptor in the next few decades that if China can get ahead there and begin the autonomous revolution their growth will explode to the point where the empty cities don't even matter. Their ability to collect data on their citizens (visual, audio, medical, financial, etc.) on such a large scale and with little to no privacy concerns that most western countries deal with is such a huge leg up for them on developing more advanced AI. They're able to feed so much more data in to AI machine learning and it just continues to build on itself. US tech companies are now trying to get into (or back into) China because of this and there's areal risk that they're going to start lapping the west.