They're living through the fallout of their own demographic nuke, and they've decided that the only solution is to flood the job market with cheap labourz just as the West has done.
How exactly would this help? I guess the scenario that comes to mind is that China's GDP and major corporations are propped up for a few more years. But China is an ethnocentric country. I am not sure there is any way that this helps the natives.
It will clearly reduce the bargaining power of native workers, as it has done in the US.
Thinking this through a little more, it will buy a little more time for China to figure out their problems before GDP takes a hit... but it would have to be an explicitly temporary solution.
China's entire economic model is "fake it til you make it." They have to pump up their artificial numbers in order to keep foreign investment coming in and keep their credit rating. It's been lipstick on a pig since the 80s, and this is just the latest shade.
To anyone outside who's paying attention, yes. But the CCP itself, or at least the leadership, genuinely seem to believe that they can bullshit their way into becoming an actual, self-sufficient superpower.
How exactly would this help? I guess the scenario that comes to mind is that China's GDP and major corporations are propped up for a few more years. But China is an ethnocentric country. I am not sure there is any way that this helps the natives.
It will clearly reduce the bargaining power of native workers, as it has done in the US.
Thinking this through a little more, it will buy a little more time for China to figure out their problems before GDP takes a hit... but it would have to be an explicitly temporary solution.
China's entire economic model is "fake it til you make it." They have to pump up their artificial numbers in order to keep foreign investment coming in and keep their credit rating. It's been lipstick on a pig since the 80s, and this is just the latest shade.
It's not "fake it 'til you make it," it's "fake everything all the time whenever you can get away with it. And if you can't, fake it anyway."
To anyone outside who's paying attention, yes. But the CCP itself, or at least the leadership, genuinely seem to believe that they can bullshit their way into becoming an actual, self-sufficient superpower.
I feel like any country with a stock market that allows companies to dilute shares is also 'fake it til you make it'
To some extent yes, but China outright manufactures their economic figures.