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Michael Pettis
michaelpettis.bsky.social
did:plc:aday7msfnpqba7psqpjq3pij
11/15
Another possibility (on which they already seem to have started), is to increase spending on infrastructure. The problem is that China already has "excess capacity" in infrastructure, after the huge amounts that poured into infrastructure investment between 2010 and 2017.
2025-08-23T06:28:30.823Z