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> but by 2009 China already had almost as much infrastructure as it could productively absorb ahaha. by 2025, China still had places near the capital …
> but by 2009 China already had almost as much infrastructure as it could productively absorbahaha. by 2025, China still had places near the capital that look like the shoddier parts of Buenos Aires or Moscow Oblast (not Moscow). At worst they need *smarter* infra investment.Michael Pettis: Noah Smith gets much right i