Zombie Factories Stalk the Sputtering Chinese Economy
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Re: Zombie Factories Stalk the Sputtering Chinese Economy
#2One significant way where a free market economy has an advantage in efficient resource allocation over a planned economy is not the priority allocation of resources to successful enterprises/groups/economic niches (both styles can do that), but a rapid, ruthless deallocation of resources from unsuccessful enterprises, so they can then be used elsewhere. Planned economies could do that in theory, but this has always been their weak point in practice.
Bankruptcies are an important instrument for the overall health of the economy. Yes, there is a short term hurt during the reallocation. But if many companies are in trouble keeping afloat, then a few of them sinking will free up resources (workers, capital, materials, land/buildings) so those resources are cheaper for the remaining, slightly more successful companies, allowing them to come back above water.
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#3Wow, yet another anti-China article from NYT. I can't get over the volume and frequency. Things look pretty good on the ground here!
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#4Reading it reminded me of the articles in the same tone that were written against Argentina, also asking for more misery for the people here. They were wrong. Argentina recovered from e 2001 crisis by kicking the IMF out of the country. The IMF uses this kind of discourse to oppress countries. I hope China's government will be wise enough to not let the IMF bankrupt them.
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#5Wow, yet another anti-China article from NYT. I can't get over the volume and frequency. Things look pretty good on the ground here!
Yes, if you get all your news from xinhua then it definitely looks much more negative. But NYT is great if you want to know more than what the government wants you to know; the government doesn't block NYT because they are wrong!
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#6One significant way where a free market economy has an advantage in efficient resource allocation over a planned economy is not the priority allocation of resources to successful enterprises/groups/economic niches (both styles can do that), but a rapid, ruthless deallocation of resources from unsuccessful enterprises, so they can then be used elsewhere. Planned economies could do that in theory, but this has always b…
How do you think is planned economy unable to direct this effect? Maybe random faults even out arbitrary bias that would be introduced by regulation. How is a government spending tons on military not partially a planned economy?
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#7Wow, yet another anti-China article from NYT. I can't get over the volume and frequency. Things look pretty good on the ground here!
Yes, if you get all your news from xinhua then it definitely looks much more negative. But NYT is great if you want to know more than what the government wants you to know; the government doesn't block NYT because they are wrong!
The fact that the person above wrote in English and is on this site means they are likely an expat/ABC. Thus your accusation that they get all their news from xinhua is a laughable ad hominid.
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#8Earlier quoted context omitted.
Yes, if you get all your news from xinhua then it definitely looks much more negative. But NYT is great if you want to know more than what the government wants you to know; the government doesn't block NYT because they are wrong!
The fact that the person above wrote in English and is on this site means they are likely an expat/ABC. Thus your accusation that they get all their news from xinhua is a laughable ad hominid.
>>The fact that the person above wrote in English and is on this site means they are likely an expat/ABC.
That's one possibility. They can also be a Chinese national who is fluent in English. I don't know if you're aware but there are many such people.
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#9Earlier quoted context omitted.
Yes, if you get all your news from xinhua then it definitely looks much more negative. But NYT is great if you want to know more than what the government wants you to know; the government doesn't block NYT because they are wrong!
The fact that the person above wrote in English and is on this site means they are likely an expat/ABC. Thus your accusation that they get all their news from xinhua is a laughable ad hominid.
It's evening in China right now, I assume everyone in the USA is still asleep. Why would parent not be in china, there are plenty of Chinese in China who speak English well enough, I work with them. Of course, the poster could be in Europe, but what does it matter?
Compare say china daily (an English version of xinhua mostly) to NYT, and you'll see a vast difference on bias and reporting standards, where NYT is vastly more professional than the shill Chinese press. So taken like that, why would parent think NYT was lying unless they had something else to compare it to; i.e. the CPC's word that the economy is fine and nothing is wrong?
There are plenty of problems in the Chinese economy...why not report them?
Re: Zombie Factories Stalk the Sputtering Chinese Economy
#10Sounds like the US oil industry. Many wells that should be shut down as uneconomical at current oil prices are still producing. This is to service an estimated $150 billion in loans from banks and hedge funds.