“China has no real property rights, which, combined with severe environmental degradation, means that land is badly misused and does not generate significant economic growth. Moreover, because of the one-child policy, China will soon face a labour shortage that will worsen over time. The CCP also confronts enormous social costs related to its ageing population and the need to provide a social safety net. Inefficient state-owned enterprise and politically motivated state banks dominate the economy. Thus, unsurprisingly, capital is badly misallocated.”
Long read, worth a look. I lean to collapse.
