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100 sats \ 0 replies \ @Solomonsatoshi 18 Feb \ on: We Live Like Royalty and Don’t Know It econ
In the west investment in infrastructure is not a priority- it is as the article alludes, taken for granted...and is as a result, is in decline.
The neoliberal financialised economy does not recognise the importance of physical infrastructure and productivity- instead it is focused on financialisation of every aspect of the economy.
In contrast the Chinese economy heavily emphasizes the importance of infrastructure- major projects such as bridges, ports, roads, rail and air travel infrastructure are celebrated by the population as symbols of an improving quality of live and increasing wealth creation in a way unimaginable to modern westerners.
Engineering is no longer highly valued in the west- Britains first new nuclear power plant for decades is being built by a Chinese French consortium- once the British led the industrial revolution with their engineering- now they are incapable of constructing their own infrastructure.