Yet no/minimal inflation in China (as you know); whenever someone says inflation = “too much money chasing too few goods” one could use this as an example to highlight the contrast between a whole people’s democracy and the liberal political theatre of electoralism, and how mainstream understanding of inflation is a load of nonsense.
I do find it amusing how pretty much all western analysis of China implicitly assumes that their system works fundamentally the same. They see prices for goods going down and go, oh well it would definitely be a problem here, so it must also be a problem there. The fact that things that keep happening here aren’t happening there doesn’t seem to give these people a pause.
Yet no/minimal inflation in China (as you know); whenever someone says inflation = “too much money chasing too few goods” one could use this as an example to highlight the contrast between a whole people’s democracy and the liberal political theatre of electoralism, and how mainstream understanding of inflation is a load of nonsense.
Deflation (obviously a negative potrayal by CNBC): https://www.cnbc.com/2025/10/15/china-cpi-ppi-deflation-september-trade-worries.html
I do find it amusing how pretty much all western analysis of China implicitly assumes that their system works fundamentally the same. They see prices for goods going down and go, oh well it would definitely be a problem here, so it must also be a problem there. The fact that things that keep happening here aren’t happening there doesn’t seem to give these people a pause.