Comment Re: Sojust like every other tech growth story (Score 5, Interesting) 197
Um. What country are you talking about? It certainly isnt China. At least, not in this timeline. Basically, every line of your post is grossly distorted or straight up wrong. Home ownership means something totally different than in the west, and the hokou system means that huge numbers of peoples official âoehomesâ are plots of land a thousand kilometers out in some rural area. Their inflation numbers are grossly distorted by their trade policy and monetary control. Medical bankruptcy most DEFINITELY exists. Most would never admit it openly because they dont want to spend 6 months in a âoere-educationâ program, but pensions are so small and state support is so thin that people have no faith that the government will take care of them in any way at all, so they save obsessively. China has made some incredible accomplishments in the past century that the west ignores (eg a legit billion people raised out of poverty), but you are completely confused about their strengths and weaknesses.