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China does this, for better or for worse.
by mrfox321 2y ago
China does this, for better or for worse.
- alephnerd 2y agoNot really. Entrenched and connected types tend to exit industries before the gavel hits, and enforcement from the CCDI isn't impartial, with plenty of bribery to remain off their radar. Truly Schumpterian creative destruction is good in a vacuum, but reality isn't a vacuum.
- daedrdev 2y agoThey are not a supportive example, their one child policy doomed their demographics and future economic growth.
- ben_w 2y agoThey stopped the one child policy nine years ago; they had it in the first place because demographic projections had them severely overpopulated if they didn't. During the period in which it was active, their GDP increased by a factor of about 62. Not percentage, multiple.
- kevin_thibedeau 2y agoThey reversed the policy too late. Their rapid growth was them seizing the low hanging fruit upgrading from a country of almost entirely peasants to slightly fewer peasants, all funded by Western greed. Those gains will never happen again.