this post was submitted on 26 Dec 2024
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Simply flipping through a stack of newspapers and searching for meaning, without consulting the raw metrics of the countries you are analyzing, is worth about as much as reading the tea leaves at the bottom of your cup. To wit:
Neoliberal publication of record predicts bad things will come from state actors stimulating/regulating their economy is a record I've been hearing played since the 1960s. If you took these predictions at face value, the Chinese economy shouldn't have running water much less cutting edge chip fabrication and a nascent airline industry.
At some point, you're forced to question the ideology behind the publishers, rather than just nodding along at the Business Oracles while they read from a pile of chicken entrails.
Western economists are historically bad at predicting Asian markets.
The media reporting on China mirrors the same bad predictions as when Japan was emerging as the number two economy during their own economic miracle.