China's $1T Plan to Shake Up the Economic Order
I'm struck by China's ability to attempt large, ambitious projects like this, compared to America's inability to do, well, anything really.The largest infrastructure project I'm aware of in the USA is California's High Speed Rail (~$60B+), was approved a decade ago and is barely making any progress. The federal government is in complete gridlock. The most ambitious legislation passed in the last decade, the ACA, caused endless partisan warfare. Meanwhile, obvious policy wins like allowing more immigration [1] are not even discussed.I've been following US politics for the last 2-3 presidents (going back to George W Bush), and it makes me very pessimistic. I don't see how a country can expected to be exceptional, or even above average, with politics that are so dysfunctional.Perhaps, though, I'd have a different view if I could see things from inside, within China?[1] http://paulgraham.com/95.html