In the span of about 12 years, China became the world's most indebted nation. They have to accumulate about $4 trillion in debt annually to add $600 to $700 billion in GDP expansion, of which 1/3 to 2/5 goes just to paying for new debt interest costs. That debt scenario keeps getting worse each year. Local government defaults are a common discussion now, it's assumed they're going to suffer vast bankruptcies all over the nation. In just the next five years, they'll increase their already shocking pile of debt by another ~75% or so, adding between $20 and $30 trillion in new debt.
> the whole world is recognizing how centralism seems stronger than western federalism
That's incorrect. The whole world, including China, has attempted to partially emulate the developed nations of the West. China has gradually abandoned Communism and shifted to a market based economy, as one example. Their former system failed entirely, their shift to market based systems is an obvious admission of that. That process continues. All the developed Western nations have far superior standards of living at the median than China. The top Western examples are four to five times higher than China, and that's before accounting for the near total dearth of human rights in China. That gap is even greater when it comes to the poor. In China ~250 million people are still living on $3 per day or less.
In the span of about 12 years, China became the world's most indebted nation. They have to accumulate about $4 trillion in debt annually to add $600 to $700 billion in GDP expansion, of which 1/3 to 2/5 goes just to paying for new debt interest costs. That debt scenario keeps getting worse each year. Local government defaults are a common discussion now, it's assumed they're going to suffer vast bankruptcies all over the nation. In just the next five years, they'll increase their already shocking pile of debt by another ~75% or so, adding between $20 and $30 trillion in new debt.
> the whole world is recognizing how centralism seems stronger than western federalism
That's incorrect. The whole world, including China, has attempted to partially emulate the developed nations of the West. China has gradually abandoned Communism and shifted to a market based economy, as one example. Their former system failed entirely, their shift to market based systems is an obvious admission of that. That process continues. All the developed Western nations have far superior standards of living at the median than China. The top Western examples are four to five times higher than China, and that's before accounting for the near total dearth of human rights in China. That gap is even greater when it comes to the poor. In China ~250 million people are still living on $3 per day or less.