The Inefficiency of the Investment Model in China

After two thousand eight china continued a pushing on the gas pedal of its economic model, which is based around investment. For every dollar of debt you're putting into the economy, you're not generating the g t p to to pay it off. So this is not new. The chinese have understood this for a very long time, going back to like two thousand seven, two thousand eight. And at that time, they were saying, hey, we got to change the system. We have to transition our model to something different. That's extremely hard to do without incurring big time pain in the short term.