Don’t create fictional versions of the people you argue with. This is the second time in a span of 10 minutes that you’ve done it. It completely undermines any attempt to discuss something, and drops your integrity to zero.
Or are they just Western economists repeating Western bias under a veil of objectivity?
USA: https://www.linkedin.com/videos/tpopomaronis_ive-seen-some-e...
China: https://www.youtube.com/watch?v=DUbbBdSGHE8
But... China is definitely copying... Hahahahha
China’s youth unemployment rate is 15%, and that’s likely heavily astroturfed to look lower than it is. Even 15% though is terrifying for a mature economy.
China's one-child policy is finally starting to hit, and its population is actively shrinking. At the moment China is not in a crisis yet, as its GDP is still growing quite well - so clearly there's plenty of economic activity.
So if a lot of old people are now retiring, and the young can't find jobs, who is doing the work? China is still a factory powerhouse, so who's screwing together the gadgets?
The answer is that they have been pushing heavily for automation, and it is working. Our biggest chance of beating China on a free market was domestic automation versus cheap overseas labor - but they have gotten there first. And that should be absolutely terrifying you.
Like ours would if we had 15% youth unemployment.
Maybe we’re projecting our values?
https://www.dongascience.com/en/news/75540
China leads in 66 of 74 critical tech areas. The USA has a whopping... 8.
But hey, the USA's MBA "leadership" figures how much to worsen everything and extract more profit. I guess that counts for "innovation", in the Private Equity books.