One very impressive side of China's economic development in the last few decades is its rapid increase in environmental standards. Pollution standards in China are now similar to those across the west. You just need to look at a picture of the skyline of any major Chinese city compared to a couple of decades ago. The smog has disappeared despite massive increases in manufacturing output.
China has achieved the trifecta many industry lobbyists claimed was impossible, rapidly increasing environmental standards, rapidly increasing real wages and rapid economic growth.
Thank you, prof. Tangen! That’s exactly the issue: supplier density, essentially an industrial park containing every necessary input ingredient. Another large factor is China’s entirely different layout of large factories, where product changeover is easy and rapid. And as you mention, the likely disruption of “investment through multiple election cycles.” These so-called governments are subject to frequent ideological capture of the levers of power through the churn of administrative cycles, thus long-term advancement of society is unlikely. Imagine voting every four years on the government of your electric utility, with the possibility that in the next cycle they could be forced to switch to DC current.
One very impressive side of China's economic development in the last few decades is its rapid increase in environmental standards. Pollution standards in China are now similar to those across the west. You just need to look at a picture of the skyline of any major Chinese city compared to a couple of decades ago. The smog has disappeared despite massive increases in manufacturing output.
China has achieved the trifecta many industry lobbyists claimed was impossible, rapidly increasing environmental standards, rapidly increasing real wages and rapid economic growth.
Thank you, prof. Tangen! That’s exactly the issue: supplier density, essentially an industrial park containing every necessary input ingredient. Another large factor is China’s entirely different layout of large factories, where product changeover is easy and rapid. And as you mention, the likely disruption of “investment through multiple election cycles.” These so-called governments are subject to frequent ideological capture of the levers of power through the churn of administrative cycles, thus long-term advancement of society is unlikely. Imagine voting every four years on the government of your electric utility, with the possibility that in the next cycle they could be forced to switch to DC current.
well conceived, well written and very interesting
Thanks for the news on the mountain of thinking happening within China.
The hot air balloon of bling looks unappealing here.
Fantastic Read!
Great article. Short answer, no.