Private investors are useless at longer term return projects.... only the state or state guarantees can provide infrastucture.
In this case... the state did get the ball rolling and private piggybacked as it always does... and then tries to say it did it all on its own.. as it always does. See also ... musk.
On a visit to Costa Rica last April, I was stunned by the number of Chinese cars on the gridlocked highways. My young driver and birding guide told me that Chinese car companies have made cars affordable for many more of his countrymen, thereby increasing the traffic. Besides the lower prices, the dealers also offer easy credit terms. We also saw two gigantic Chinese-made trucks at work on a road repair job, as well as a shiny new, big electric bus with an inscription describing it as a gift from the PRC.
Aside from the various social, economic, historical, and political takes on industrial policy in China....I've been to Shiyan, Hubei (in the mountains where all those industries relocated) several times; it's an interesting small city. Shiyan still has the Hubei University of Automotive Technology, a rather large and respected auto engineering university. It's also the headwaters of the South To North Water transfer project with the Danjiangkou Reservoir.
Private investors are useless at longer term return projects.... only the state or state guarantees can provide infrastucture.
In this case... the state did get the ball rolling and private piggybacked as it always does... and then tries to say it did it all on its own.. as it always does. See also ... musk.
Great work, thanks. This shakeout happened in computers and even the early car industry. Castle builders too, for all we know.
On a visit to Costa Rica last April, I was stunned by the number of Chinese cars on the gridlocked highways. My young driver and birding guide told me that Chinese car companies have made cars affordable for many more of his countrymen, thereby increasing the traffic. Besides the lower prices, the dealers also offer easy credit terms. We also saw two gigantic Chinese-made trucks at work on a road repair job, as well as a shiny new, big electric bus with an inscription describing it as a gift from the PRC.
Aside from the various social, economic, historical, and political takes on industrial policy in China....I've been to Shiyan, Hubei (in the mountains where all those industries relocated) several times; it's an interesting small city. Shiyan still has the Hubei University of Automotive Technology, a rather large and respected auto engineering university. It's also the headwaters of the South To North Water transfer project with the Danjiangkou Reservoir.
Good piece, thanks much.
Not exactly Murray Bookchin’s collectivist municiplism vision but it kinda rhymes.
Interesting mini history of Chinese industry and geography! And if the Simpsons was made in China it would be set in Wuhu not Springfield 🤔Doh 😁