Losing the future: Chinese “miracle” mostly smoke and mirrors

The Chinese government spends wildly, produces shoddy products while cronies and pols make out like the bandits they are. Not much different from our model after all.

china-bullet-train-crash

US political-class types like Barack Obama and New York Times China apologist Tom Friedman think the Chinese model of crony capitalism and central planning is just dandy. They envy how the ex-commies can uproot millions and spend billions at the drop of a bayonet, certain that emulating the Chicom model can dig us out of Obama’s holes.

china-bullet-train-crash
Crash and burn: Are we talking about the bullet train or the Chinese economy?

Critics like Ying Ma think that’s a crock. As an example, she derails Casey Joe Biden’s high speed train fantasy:

Westerners have consistently pointed to the rapid construction of China’s high-speed rail system, now the most extensive in the world, as Exhibit A of China’s infrastructure prowess.

…going high-speed in China has highlighted endemic corruption and created unhappy customers. In February, Liu Zhijun, China’s minister of railways and architect of the country’s $300 billion high-speed rail network, was fired and arrested amid accusations of wheeling and dealing in bribes of $155 million — and keeping 18 mistresses.

…concerns about shoddy construction and safety have surfaced.

China’s state media once trumpeted the trains’ top speed of 210-236 mph as the fastest in the world, but the trains were never designed to run above 186 mph. … Caxin.com … reports that the “high-speed bubble” was all a “naked, systemic lie,” concocted and fanned by the Railways Ministry.

…most Chinese citizens cannot afford to ride the shiny new trains and have opted instead to pack into buses for their long-distance travel.

The Chinese government spends wildly, produces shoddy products while cronies and pols make out like the bandits they are. Not much different from our model after all.

– Written by Bonfire of the Absurdities

Source: PajamasMedia.com

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