China’s tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country’s cozying up to its tech firms again.::Local governments in China are wooing deals with tech giants to build on the so-called “platform economy,” per the SCMP.
People have been saying the Chinese economy is a year or two away from complete collapse for the past few decades, each time for a different reason. I’ll believe it when it actually happens.