this post was submitted on 24 Aug 2025
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I love how libs were getting boners for a while thinking that China was about to have a 2008 style crash. Now that it's becoming obvious that it's not gonna happen, the copes are flooding in. For example, here's Michael Pettis who is one of many US economists that's been predicting the failure of China's model, complaining that China avoided a recession by popping the real-estate bubble and redirecting investment into manufacturing.
It's absolutely incredible to me that he attempts to spin this as something negative when in practice it means that on top of avoiding a crash, productive economy is now thriving giving Chinese consumers access to low-cost technologies like solar panels, batteries, and electric vehicles.
When China turns a crisis into an opportunity to strengthen their manufacturing power even further while deflating an unproductive sector of the economy, that's proof they are failing.
When the US declares loudly that it wants and needs to bring manufacturing back yet repeatedly fails to do so and instead just ends up inflating an "AI" bubble that's a genius 5D chess move.
lol that's basically what western media has been going with