Say the Line, The Economist!
But at what cost?
this post was submitted on 18 Jan 2025
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Haha, I was just going to post that. It's such a cliché:
Made in China 2025 has, then, achieved most of its aims. But at what cost?
And of course the cost is... not enough consumer spending and services. Right. (with a tiny nod towards healthcare.)
But at what cost? The fiscal expense is impossible to calculate. One attempt by the Centre for Strategic and International Studies, a think-tank, estimated that China spent over 1.7% of GDP on industrial policy in 2017-19, which would add up to over $3trn in today’s dollars if sustained for a decade. That money could have been spent on other things, such as health care, which might have better served the public
Or they could have funneled those trillions into the private pockets of a few billionaires.
LIKE LORD VOLDEMORT from Harry Potter,
Literally the first line lmao was this meant to be a parody