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Made in China 2025 has been a success, but at what cost? (www.economist.com)
submitted 1 year ago by yogthos@lemmygrad.ml to c/sino@hexbear.net
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[-] Wheaties@hexbear.net 33 points 1 year ago* (last edited 1 year ago)

Made in China 2025 has, then, achieved most of its aims. But at what cost?

the answer will shock you

The fiscal expense is impossible to calculate. One attempt by the Centre for Strategic and International Studies, a think-tank, estimated that China spent over 1.7% of GDP on industrial policy in 2017-19, which would add up to over $3trn in today’s dollars if sustained for a decade. That money could have been spent on other things, such as health care, which might have better served the public: fewer EVs, more ICUs.

Did you miss it? Less than 2% of GDP. I assume you have now fainted in horror at the cost.

[-] KatGirl@hexbear.net 28 points 1 year ago

Bold of then to say China should stop developing industry and just have more health clinics when the USA has no industry, shitty healthcare, and spends 3.5% of GDP its military

[-] Wheaties@hexbear.net 19 points 1 year ago

huh, ok that 3.5% actually puts the 1.7% into better perspective. Guess it is a pretty substantial investment.

Still smart and definitely worth it, of course.

[-] SoyViking@hexbear.net 10 points 1 year ago

And the yanks wants the rest of us to waste 5 percent of GDP on the military

[-] TreadOnMe@hexbear.net 7 points 1 year ago

The sad thing about this is that they would be complaining about how China built too many clinics, and not enough EV's if it was the other way around. And even that doesn't make sense because cheap EV's also have an indirect benefit to public health, reducing smog in the cities.

[-] BennyCHill@hexbear.net 2 points 1 year ago

i love it when they add "a think-tank" so you know when to discard something as complete and utter BS

this post was submitted on 18 Jan 2025
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