Let’s not forget that despite their massive growth, much of their population is still desperately poor and without decent infrastructure. How much can they afford to piss away their imperial fantasies?
As they do this, the advances in robotics and Machine Learning will continue to undermine their model.
British Labour once felt if they bought much UK industry, they could fund all sorts of programs with it and keep everyone in that industry employed for life, then they were stuck with it, as it went down the drain. Canada experienced something similar.
How about we just let China drink deep from the poisoned chalice?
In general, I think the world’s democracies have gone way too far in trading wth crooked dictatorships. I think in an ideal world we should pay a bit more and keep the trade within the democracies, not just countries that have elections, but democracies. Of course, industry wants the quick fix and fast buck and relies on their lobbyists to beg them out of trouble when it inevitably goes wrong. It takes strong leadership to resists that. My own government for one is shamefully supine in the face of Chinese influence.
We always have too little faith in human capital and too much in inanimate capital. China has hordes of human drones but that won’t be of much value as robots steal all those jobs.
https://www.forbes.com/sites/amyfeldman ... 70d16b53a6Rapid’s orange robots look as basic as can be, but their differentiation is inside with AI-driven software and vision systems. In a video that Kretchmer shows over Zoom, for example, a robot hot stamps a logo onto a coffee maker. Other robots can operate pad printers that are used to create tagless labels on apparel or print onto plastic and other materials. “We were going to name it the Boring Robotics Company, and then Elon came around and stole it from us,” Kretchmer says. “We don’t have a robot that shows off all its fancy footwork. We have a robot that can be programmed using AI to do very specific tasks that are ubiquitous across manufacturing facilities, especially contract manufacturers.”
Sure, China will automate too but their system is far too rigid to adapt without changes that threaten the CCP. The impoverished Chinese will know that they never saw this prosperity before it was gone. One the one hand they may overthrow or notably reform the CCP, on the other, they will stagnate economically and get dragged down by their ownership of all the broke assets that they own.