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Comment on Public transit in Chengdu, China versus Toronto, Canada

Overproduction of commodities is certainly a problem for capitalists. But the workers get to enjoy a lower cost of living. Like I would much prefer we built ghost cities (Chengdu was derided as a ghost city at one point) than have a decades long housing crisis with no signs of improving unless we deport millions of people.

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anachrohack@lemmy.world ⁨14⁩ ⁨hours⁩ ago
At some point, though, when the government keeps running up deficits to subsidize this, the bill comes due

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- squaresinger@lemmy.world ⁨7⁩ ⁨hours⁩ ago
  Yeah, sure. China has a debt to GDP of 88.6%. That’s not great. Luckily we don’t have that problem in western capitalist countries, right?
  
  USA: 121%
  
  Canada: 104.7%
  
  UK: 101.8%
  
  France: 111.6%
  
  Japan: 251.2%
  
  Italy: 136.9%
  
  Belgium: 105%
  
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  - anachrohack@lemmy.world ⁨2⁩ ⁨hours⁩ ago
    This isn’t about the US. My criticism of the US was pretty clear in the original post
    
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    squaresinger@lemmy.world ⁨2⁩ ⁨hours⁩ ago
    I also didn’t only post numbers for the US.
    
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- zbyte64@awful.systems ⁨14⁩ ⁨hours⁩ ago
  Did you know that most of China’s debt is held domestically?
  
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