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China and the World Face a Double Blow from decades of housing construction enabled hyper growth- creating problems of climate change for the World and a slump in growth in 2023
10/16/2023
Decades of growth at 12-14% have left China and the World worse off. As Greg Ip pointed out in WSJ America could not cope with this hyper growth in a country many times the size of Japan after absorbing the growth of Japan in the sixties. The result was the closing down of factories and ever increasing imports from China until America had transferred its manufacturing prowess to China. This led to the societal breakdown in the US with communities dependent on factories across the US feeling the brunt. The other effects were an unprecedented in scale use of coal and fossil fuels to fuel hyper growth rates in China that created the problems of World Climate Change by 2023 and contamination of water, land and air inside China. By 2030 China will be aging rapidly similar to Japan today and the slowing economy in 2024 onwards could mean China will be stuck in the Middle Income category. All this poses lessons for America, for Europe, India and the World on what kind of growth is healthy and what kind is not, what is sustainable growth and what is not,what works well for the planet and what does not.
Grouped Articles
China Bet It All on Real Estate. Now Its Economy Is Paying the Price.
NYTimes.com 10.16.2023
An Even Bigger Housing Crisis Threatens China’s Economy
WSJ 09.18.2023
Is China’s Economic Predicament as Bad as Japan’s? It Could Be Worse
WSJ 09.19.2023
China’s Economy Remains Shaky After Challenging Summer
WSJ 10.13.2023
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