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Originally Posted by someone123
Completely different topic but I wonder if the struggling Chinese economy, particularly the residential real estate sector, will create opportunities for Canada to more cheaply build infrastructure that requires inputs globally-traded commodity inputs like steel and concrete. There could also in theory be some underemployed Chinese construction workers, but importing workers is more complicated.
We had an epic global misallocation of infrastructure development with Chinese government policies encouraging construction of tons of low value to useless stuff there while their population began shrinking. Meanwhile a city like Toronto needs 50%+ more transportation infrastructure.
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I've often wondered about this. We could probably build affordable housing at the volumes we need and affordable subways and high speed rail if we just let the Chinese manage the project from end-to-end and bring in their workers.
Of course, Canadian labour unions, project managers and construction companies would have a field day and would stand in the way, but the stakeholder that really deserves the blame for this is the Chinese Communist Party. They could actually have a trillion dollar export industry and employ tens of millions of their disgruntled young men, but their "proof of concepts" to the 50% of the world economy that lives in democratic Western countries is absolute shit.
Whenever they build infrastructure in a developing country, they do so with predatory loans or mafioso-like contractual obligations. I live near an infamous rapid transit project that hasn't opened 13 years after it broke ground and whose cost has ballooned, but I'd rather deal with this than have to go through
what the Kenyans are saddled with after working with China. They can't help but load their telecom equipment for export with spying devices. Nobody wants to take part in their parallel big tech universe - the only ones that can challenge the American Silicon Valley hegemons - for similar reasons. China has serious trust issues and has almost no soft power in the world today.