• MrMakabar
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    3 months ago

    When you do pure central planning it really has seen underproduction historically. However China has a mix between central planning and a capitalist system, which is more like the Western economies during WW2, then the Soviet Union. Those have generally seen some massive production increases.

    Also Evergrande is a sympton and not the problem itself. The issue is that China has built significantly more housing then it really needs. That uses a lot of steel and to produce steel you use coal(there is also a process using hydrogen, ususally made from fossil gas).

    As for Russia, China lacks the pipelines to buy Russian gas. Currently they only get it from the gas fields in Russias far east. However Europe was supplied from gas fields further west. There are no pipelines between those systems and Russia has been exporting at nearly capacity for some time.