On automation, consumption upgrading and programmable money
This reminds me of when Luo Ji wakes up from hibernation to find that humanity is now 100% capable of securing peace in a daunting future. Sounds amazing!
Always very interesting. Thanks.
Super interesting & really helps connect the dots between the status quo of the property market, COVID policies, & the future of consumer/tech. Thanks!
Great Read, but what utopia have Chinese consumers attained? Is this the post-80s boom that US saw after a few years of crushing interest rates... or we still lying flat?
It seems China is taking a pause, in search of its next path, be it another greatness in the making, or be it another 100 years of suffering under the close watch of President Xi. To-date, the fortune of China, under Deng is gradually easing off and in my opinion, a new shape is currently taking place with strong emphasis of the role of state, driving China to either one of the two possibilities here. It is my wish that China can avoid the same greatness mistake of the 1980s economic miracle of Japan then. All greatness of Chinese empires starts with greater humanity and ends with even greater hibernation that could possibly last for few decades at least.
thanks for your writings! I always learn a lot : helps us see clearly without stereotypes
Great! Any way I can access past premium publications? Happy to pay
Bravo! A superb summary of a profound and complex subject.
One quibble: "As the Chinese economy suffocated under zero-COVID policies, the broader realisation sank in" is misleading. After three years of Covid, US GDP has grown 3.4%, with 1,000,000 Covid deaths and 3,000,000 Long Covid invalids. China's GDP has grown 13.8%, with 7,000 deaths and 38,000 Long Covids.
One typo: "Firms primarily made do with available semiconductors, abet sacrificing efficiency" should be albeit, and most spell-checkers get that wrong.
Glad to have you back!