Re:Why is China smashing its tech industry?
by cryptica on Monday August 02, 2021 @12:40PM
(#28039016)
I was thinking along the same lines so it's interesting to see that others have come to the same conclusion.
IMO, large parts of the tech industry are artificial and fueled entirely by monetary policy.
If reserve banks in the west stopped expanding the money supply, large parts of the tech industry would be wiped out; they would quickly be revealed as negative-value industries.
With limited autonomy over their own global monetary policies, this was the only way China could fix this problem.
IMO, large parts of the tech industry are artificial and fueled entirely by monetary policy.
If reserve banks in the west stopped expanding the money supply, large parts of the tech industry would be wiped out; they would quickly be revealed as negative-value industries.
With limited autonomy over their own global monetary policies, this was the only way China could fix this problem.