>Construction projects in China cut every corner possible.
Construction quality satisfies fast, cheap, good like everywhere else. As someone who worked adjacent to construction industry in both China and North America, the difference is China has the "fast" option available, whereas NA is mostly cheap + good, and frequently just cheap. It's less about being well managed, but having all the options and managing appropriately. Tons of capital projects in China and related prestige developments aging well. The latter surprisingly so considering how many retardley ambitious (almost unworkable) starchitect designs were built. Sure, lot's of uninhabited commodity projects falling into disrepair but abandoned bubble subdivisions don't fair much better. Difference is China builds more, so more catastrophic failures. Question is, it worth the cost? Deng wanted poor China to develop fast. So China ChaBuDuo's as deliberate development strategy and manages accordingly.
>When something fails catastrophically, they'll throw a low-level official under the bus. At every level, there is total abdication of responsibility. The whole system incentivizes this.
Chinese Aviation and HSR safety? Public accident -> regulate + execute those responsible = about safest aviation and HSR in the world. Surmise the same with food and vaccination safety, but effects of those scandal stake longer to determine. Regardless, incentives seem to align with state interests to me. On building stock specifically, there's no interest high quality commodity construction. Why would there be? Current 60% urbanization rate, goal 70%, realistically 80-90%. That's 140-420M people who needs apartments. Queue current 65M empty condos and ghost city memes.
Obviously it's not perfect, but it has more tools to address some serious problems that's stumping the west, especially beyond political cycle timescales. Curious if west would try deleveraging or could successfully regulate FAANG. Too many things west can't do, but should. Also too many things CCP can do and shouldn't.