China unable to manage municipal finance, fiscal federalism & special interest group lobbying
Because it put off a tax? LOL At least it didn't have to send out so much stimulus that people quit working to keep its economy on a lifeline. Interest group lobbying in the West means companies can buy national policy. China handles them by cutting those companies and their greed down to size as we can see in the big tech actions going on now. In the US, companies control the government; in China, the government controls companies and makes sure they do right to the nation and the people.
Reducing factory output in China, foreign multinationals have been expanding outside China, targeting places such as Vietnam to avoid rising wages and environmental compliance costs
And yet Chinese industrial output is still rising (3.8% last month on top of heavy growth for the year)... So... is what you're saying untrue or are they just not that important to China?
And this is with COVID reductions and with China trying to move away from being a big factory and into big tech! Its factory activity just can't stop growing. I guess foreign companies need China just too much. Apple tried going to India and got 1 factory looted and vandalized and another one out with food poisoning... sigh. There's no substitute for China...
The Institute for Supply Management’s services index dropped to 62% last month from a record 69.1% in November. Readings above 50% signal expansion and numbers above 60% are considered exceptional.
“It’s still reflective of a very strong rate of growth,” said Anthony Nieves, chairman of the survey. “It’s a matter of leveling off” from very high levels in the past few months.
Good stuff! If it weren't for China, America might be considered the world's top performing major economy this year... but... you know. China.
