Overproduction of commodities is certainly a problem for capitalists. But the workers get to enjoy a lower cost of living. Like I would much prefer we built ghost cities (Chengdu was derided as a ghost city at one point) than have a decades long housing crisis with no signs of improving unless we deport millions of people.
Overproduction of commodities is certainly a problem for capitalists. But the workers get to enjoy a lower cost of living. Like I would much prefer we built ghost cities (Chengdu was derided as a ghost city at one point) than have a decades long housing crisis with no signs of improving unless we deport millions of people.
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Yeah, sure. China has a debt to GDP of 88.6%. That’s not great. Luckily we don’t have that problem in western capitalist countries, right?
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I also didn’t only post numbers for the US.
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Did you know that most of China’s debt is held domestically?