All Threads by Date

China is breaking!

Anyone who thinks that China- the centrally planned, government directed, deficit financed, crony capitalist "economic miracle"- is going to survive any serious downturn in the US and/or EU (or vice versa) is fooling themselves. Building shitty bridges to $100B ghost towns is neither "productive" nor sustainable.  ----- One of the longest bridges in northern China collapsed on Friday, just nine months after it opened. NYT has the details: One of the longest bridges in northern China collapsed on Friday, just nine months after it opened, triggering a storm of criticism from Chinese Internet users and underscoring questions about the quality of construction in China’s rapid expansion of its infrastructure. A nearly 330-foot-long section of a ramp of the eight-lane Yangmingtan Bridge in the city of Harbin dropped 100 feet to the ground. Four trucks plummeted with it, resulting in three deaths and five injuries. The 9.6-mile bridge is one of three built over the Songhua River in that area in the past four years, ----- Note that NYT ties the collapse in with economic growth in China. Growth has nothing to do with it. The private sector doesn't build shoddy products that will result in collapse and losses. China's infrastructure is entirely the result of central planning, and local political cronies are rewarded for completion of projects and little else. Thus, resulting in poor quality product that is constructed quickly and cheaply.

http%3A//www.nytimes.com/2012/08/25/world/asia/collapse-of-new-bridge-underscores-chinas-infrastructure-concerns.html%3F_r%3D1%26smid%3Dtw-share


Thread Watcher
[Help]
log
Click here if you are using an iPhone or iPad

DataLounge get your fix of gay gossip, news and pointless bitchery.

Settings

Talking to DataLounge servers.
Please wait a moment...