World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Group
Unintended consequences of China's years of hyper growth- climate change and sharply slowing growth
07/31/2022
China's overdependence on the property sector and foreign investment in offshoring factories from home countries to China had unintended effects. The property sector led growth has led to sudden collapse with local governments finances strained by $900 billion according to WSJ and loss of buyer confidence. The effects on communities in the US and EU of shifting local factories to China is well known having alienated the US and EU public, and permanently damaging friendly relations leading to its reversal and shift back to home countries. Years of unbridled hyper growth has not done well for China with the consequences seen today. At the start of this experiment China embarked on in 1990 China had little experience with market economy. The self interested advice of American investment banks and business and the zeal of local government officials led to hyper growth. The US and EU countries could not cope with the scale of China's hyper growth and shift of factories overseas as they had done with Japan in the sixties and seventies because of the sheer scale and compression in a short period for China. The result is sharply slowing growth in China and loss of faith on both sides. It did not have to happen this way and shows the unintended consequences of letting capitalism go its own way with interested parties acting excessively and governments not acting where prudence is needed. The burning of coal in unlimited quantities created the problems of climate change the world faces today- a double blow for the world and for China with lessons for today and how we think about his in future.
Grouped Articles
China’s Manufacturing Sector Unexpectedly Contracts Amid Weak Demand, Covid Lockdowns
WSJ 07.31.2022
China’s Economy Tested by Strained City Finances
WSJ 07.31.2022
China Home Sales Plunge in July, as Mortgage Revolt Deters Buyers
WSJ 07.31.2022
China property sales could plunge by one-third, analysts say, as crisis deepens
The Guardian 07.26.2022
China Bet It All on Real Estate. Now Its Economy Is Paying the Price.
NYTimes.com 10.16.2023
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us