The Chinese Great Depression: Factories Full, Wallets Empty – History Repeats | Digging into China

China's deflation echoes the US Great Depression more than Japan's Lost 30 Years. Like 1920s America, China's roaring industrial boom—fueled by overinvestment in EVs and solar—clashes with stagnant wages, brutal work hours (think 996), and yawning wealth gaps, crippling consumption. Factories overflow while wallets stay empty.

Roosevelt's New Deal saved America by empowering workers—cutting hours to 40, hiking minimum wages, taxing the rich, and reining in banks—sparking demand. Hitler, conversely, crushed unions, extended shifts to 52 hours, and bet on arms, prolonging deflation until war.

Xi's path? Squeezing labor for "competitiveness," subsidizing tech overhauls sans reform—Hitler-lite, minus guns. Without democracy's quick pivots, China's trapped in autocratic error, courting endless stagnation. Time for a Roosevelt reboot?

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