As the title says, "cities face brutal cutbacks." Use Chinese as an adjective, or American or European or third-world, but the math is the same. This is why history is littered with defaults and abrogations of debt, as with write-downs and revolutions. Those who think this is untrue are fools or beneficiaries of the game. Tick tock.
Which means war.
The entire world economy has to collapse for the Great Reset to take over........ .
I have not kept up with all the changes in China.
But just saying, it seems stunning to talk about a capitalist problem of making interest payments on debt, relating to China. President Xi has a pen and a phone, to make this problem disappear, doesn’t he? Since he is a totalitarian dictator?
Eat more General Tso’s Chicken!
‘These Numbers Are Staggering’: Chinese Migrants Continue To Surge Across Southern Border
https://dailycaller.com/2023/05/22/these-numbers-are-staggering-chinese-migrants-continue-to-surge-across-southern-border/
Those migrants will all be voting Democrat - like the ones that came before them and for a continuation of what they left back in the old country.
Asians vote ≈ 65% Democrat
It’s not just the cities, the entire Chinese economy is a house of cards.
Select any large city in the U.S.
“Everything is so expensive. I can barely get three square meals a day.”
China building back better too.
The problem with command economies like China’s is eventually ‘the elites’ move in for their own benefit - - and the system collapses...
Capitalism’s the only economic system that creates enough layers that an idiot can run the country without ruining it. (well, not forever but for enough years so we can elected someone other than President Sniffer)
During that time there's a 'get tough' with 'the corrupt' .. but it never works. Show trials, the boot, won't work because it's bad incentives. A change on 'who makes the rules' is telling but won't solve the problem. So while your visiting China see who's being blamed for the current problems... that's a hint about what stage they're at.
Capitalism's the only economic system that creates enough layers that an idiot can run the country without ruining it. (well, not forever but for enough years until we can elected someone other than President Sniffer)
The Chinese Communist Party = Democratic Party
Bkmk
In the South we do not see district heating very often. Austin TX is one place that has a large piping system for hot water circulation among downtown, but we do not see it in many other places. Some friends lived in Russia, and the date that the heat would be turned on (and off) for the city was announced each year.
It is used in northern climes and in top down economies, on the theory that it can be more efficient than low pressure boilers in each home.
The same argument against centralized planning works against district heating. The system efficiency is only as good as the technology and design, less differed maintenance.
Which is why most Americans prefer to manage their own heating and cooling systems.
Now onto to distributed power generation.
The media and pundits are all, that is every one of them, entirely missing the historical point. Some are staking their very careers on their misconception blunders
Here is what is really happening.
Chairman Xi is attempting to go forward by going backward. Xi is attempting to reinstate a more Maoist, more pure, state of communism. The current CCP under his leadership is all about reverting to the communism prevailing previously. Capitalism and relative personal freedom have crept in polluting the purity of communist thought
To achieve the desired end, the current economy and all capitalist, entrepreneurial and personal freedoms must be destroyed.
The bankruptcy of all businesses not directly controlled by the CCP is therefore mandatory. The existing corporations will become CCP controlled entities and all the jobs restored under CCP auspices.
The question the press should be asking is will the young people permit the reversion? Will they submit to government control over every aspect of their lives?