Made in China 2025 has, then, achieved most of its aims. But at what cost?
the answer will shock you
The fiscal expense is impossible to calculate. One attempt by the Centre for Strategic and International Studies, a think-tank, estimated that China spent over 1.7% of GDP on industrial policy in 2017-19, which would add up to over $3trn in today’s dollars if sustained for a decade. That money could have been spent on other things, such as health care, which might have better served the public: fewer EVs, more ICUs.
Did you miss it? Less than 2% of GDP. I assume you have now fainted in horror at the cost.
Bold of then to say China should stop developing industry and just have more health clinics when the USA has no industry, shitty healthcare, and spends 3.5% of GDP its military
The sad thing about this is that they would be complaining about how China built too many clinics, and not enough EV’s if it was the other way around. And even that doesn’t make sense because cheap EV’s also have an indirect benefit to public health, reducing smog in the cities.
the answer will shock you
Did you miss it? Less than 2% of GDP. I assume you have now fainted in horror at the cost.
Bold of then to say China should stop developing industry and just have more health clinics when the USA has no industry, shitty healthcare, and spends 3.5% of GDP its military
huh, ok that 3.5% actually puts the 1.7% into better perspective. Guess it is a pretty substantial investment.
Still smart and definitely worth it, of course.
And the yanks wants the rest of us to waste 5 percent of GDP on the military
The sad thing about this is that they would be complaining about how China built too many clinics, and not enough EV’s if it was the other way around. And even that doesn’t make sense because cheap EV’s also have an indirect benefit to public health, reducing smog in the cities.