I thought the play-up of "Evergrande" seemed strange.
That was to be expected as part of Cold War II rhetoric.
China is a centrally planned economy.
Although profoundly authoritarian, the economy is not as top-down as most people think. The policies that come out of Beijing can be met with counter-policies on the local level to allow needed economic flexibility.
It is not clear to me that they are going to "tank the (stock?) markets." To me it looks like they have been preparing people for years to blame AI for their UBI-dependent unemployment.
The narrative is that we won't need many workers because AI will do it all. The reality is that the plan is to sharply reduce the disposable income of most people. The job losses will be from almost nobody being able to afford anything and therefore limiting the opportunity to provide goods and services--which require labor--to those people. People ask why perfectly competent people in Africa make their money selling fruit by the side of the road. The answer is that fruit is the only thing their customers can afford to buy.
The aim is to create an unprecedented gap in wealth between the classes--virtually eliminating the middle class--to create a situation where people no longer have any political power. After that, you can deprive them of whatever you like.
That was to be expected as part of Cold War II rhetoric.
Although profoundly authoritarian, the economy is not as top-down as most people think. The policies that come out of Beijing can be met with counter-policies on the local level to allow needed economic flexibility.
It is not clear to me that they are going to "tank the (stock?) markets." To me it looks like they have been preparing people for years to blame AI for their UBI-dependent unemployment.
The narrative is that we won't need many workers because AI will do it all. The reality is that the plan is to sharply reduce the disposable income of most people. The job losses will be from almost nobody being able to afford anything and therefore limiting the opportunity to provide goods and services--which require labor--to those people. People ask why perfectly competent people in Africa make their money selling fruit by the side of the road. The answer is that fruit is the only thing their customers can afford to buy.
The aim is to create an unprecedented gap in wealth between the classes--virtually eliminating the middle class--to create a situation where people no longer have any political power. After that, you can deprive them of whatever you like.