Interesting. I’ve been reading that the ChiCom economy is mainly smoke-and-mirrors — lots of construction and 50-story buildings that are completely empty.
I don’t know this to be true other than from what I’ve read.
But if it is true, the global recession/depression is going to much longer and much more intense than what the “experts” are expecting (no surprise there).
But if this is true, then it does set the stage for the new ruling party in Japan (who claims to be China-friendly) to team up with the ChiComs to create an Asian version of the EU.
Could Orwell have been so correct in his prophetic writings that global nations are essentially along the three regions of Oceania, Eurasia, and Eastasia?
An acquaintance, well connected to the Chinese community, says it is much worse. There is a large population of young males that migrate to cities like Shanghai for work. They are now unemployed squatters in those “empty” 50-story luxury buildings.
The problem comes when the government “finds” something for them to do - like invade a neighbor.