I finally got a chance to read this fascinating paper on productivity in China by Weijian Shan, a man who's had an incredible life, starting as a Cultural Revolution worker in the Gobi desert to today one of the world's most respected investors.
— Arnaud Bertrand (@RnaudBertrand) November 12, 2025
One statistic blew my mind. In… https://t.co/5H5tHY4SY1
...worth expanding. The text describes how Chinese workers produce 14 times more than American workers. This is odd because the Chinese work for lower pay than the Americans. But China's commitment to infrastructure, particularly transit and green energy, makes this possible. The US has set up its economy as a series of toll booths, so worker need higher pay just to live their lives. The privatization of everything essential to survival from food, to housing, to healthcare, to education, etc. -- all of that makes just day-to-day living more expensive, and not incidentally, the US less competitive internationally.
No comments:
Post a Comment
One of the objects if this blog is to elevate civil discourse. Please do your part by presenting arguments rather than attacks or unfounded accusations.