Several years ago, I was on a long trip in China to meet with various people in industry and academia. It was easily the most interesting travel experience I've ever had.
Here are a few of the takeaways I had from my first-hand impression:
- Chinese people are more entrepreneurial than Americans;
- A lot of the macro growth was from pulling back Mao's restrictive policies, not from clever modern policies:
- Most of the politically feasible policy improvements have been made, anything more will have serious tradeoffs;
- Much of the apparent development is very superficial. When you look closely at the shiny new stuff, you start to see all the seams.
Here are a couple of Mises Wire articles related to China:
China’s Inefficient and Unsustainable Central Planning
By Antonio Graceffo
"China's so-called economic miracle is running into the ground as the reality of central planning becomes increasingly obvious and an economic reckoning looms."
No Monetary or Political Bailouts for Belt-and-Road Initiative Debtors
By Jeremy Powell
"The countries have changed, but the story remains the same. Wealthier countries try to 'invest' by lending money to African regimes, where the money disappears. This time, China is the big lender."
And another article by an active Bitcoiner and Nostrich:
The Specter of Hyperinflation Looms over the Economy
By Michael Matulef
"While the White House claims that inflation is losing steam, the truth is that unless the government changes its reckless monetary course, hyperinflation could be in our economic future."