"Emerging" China

[Seph]

@Prateek Sanjay

The beneficiary of those things around your house is YOU, not the Chinese.

30 years ago the average Chinese citizen had never even seen a TV let alone a car.

Just today, I had dinner with about 20 or so Chinese people, all of whom live in one of the poorest cities in all of China.

Some of them have factory jobs.

Every single of of these 20 odd people was both deaf and dumb.

Every single of them has a TV. 3 or 4 even own cars.

Tell them that their economy hasnt emerged in recent years.

[Catalan]

@chloe732

We’ll, look at what the U.S. did during the next major shock in 1929. They went full tilt interventionist. Won’t the political pressure on the Chinese communists force them to intervene? Wouldn’t a major bust lead to a disruption in China’s ability to buy U.S. debt? Isn’t the pattern, according to Mises, for more and more intervention?

Like I said, a major difference is the elasticity of the labor market. The Great Depression would not have been as bad had the labor markets been allowed to adjust. Also, I’m not sure if the Chinese create as much uncertainty as the U.S. government does, in terms of increasing regulation and driving smaller businesses off the market through price-fixing.