Central planning

Back in the 1980's economist were predicting that Japan would overtake the US as the world's biggest economy but it never happened. Today the same people are predicting that China will overtake the US. Others see things differently. China's population is on track to decline by 50% by 2024. As the drive for globalism lessens and nationalism gains strength China's favorable balance of trade is in jeopardy. While China has allowed free enterprise since 1985 the government still controls overall production and central control never works. There are whole cities in China designed for a million people that sit empty. The government kept building to provide jobs and now the people cannot afford to live in those cities. Currently there are over 100 government sponsored mega projects going on and most will not provide a return on the investment. They are building to provide jobs without concern for the end product. This is what happens to central planning.