My model for this is that China is achieving success largely by ignoring externalities. Environmental pollution is a prime example, like in the case of their previous recycling policy and mining of rare earth minerals. It is actually against the law for the US to build as quickly or as cheaply as China, but this is reasonably motivated by trying to account for things like pollution and safety, and avoiding things like resettling entire towns.
Chinese success looks a lot like the WWII and postwar years in the US, and for much the same reasons.
My model for this is that China is achieving success largely by ignoring externalities. Environmental pollution is a prime example, like in the case of their previous recycling policy and mining of rare earth minerals. It is actually against the law for the US to build as quickly or as cheaply as China, but this is reasonably motivated by trying to account for things like pollution and safety, and avoiding things like resettling entire towns.
Chinese success looks a lot like the WWII and postwar years in the US, and for much the same reasons.