At that point, China will have to choose between A) expensive upkeep and redevelopment to keep cities looking new, or B) patching up and painting over old buildings to save money. Japan actually chooses the former, which is why it still looks nice — but this eternal construction and beautification costs a lot of society’s resources. Hong Kong and... See more

A willingness to assess foreign imports as well as a commitment to the physical world combine to make me suspect that Beijing will not be friendly towards the Metaverse. Already state media has expressed suspicion of the concept. If the Metaverse will exist in China, I expect it will be an extremely lame creation heavily policed by the Propaganda... See more