The Chinese call it a “Tofu-dreg project” or buildings made from Tofu.
It means a badly constructed building or shoddy workmanship, and there are examples all over social media of crumbling concrete or cracks running through apartment buildings.
Tofu-dreg projects could also be a symbol of China today. It might look impressive on the outside, but underneath, it’s falling apart.
Experts told us that this would be “The Chinese Century,” however Xi Jinping’s “China dream” is dying, because of several factors.
2023 was a bad year for the Chinese government in just about every way, and 2024 does not promise to be much better.
Last year was China’s worst economically since 1976. A study that the government tried to suppress found that as many as one billion Chinese may be living in poverty.
“There are a lot of things that are going wrong that are fixable, but fundamentally, there are more things going wrong that aren’t fixable,” according to Josh Birenbaum at the Foundation for Defense of Democracies, who says international businesses and capital are continuing to flee China because staying has become too risky.
“Companies are increasingly seeing the writing on the wall in China. The environment is no longer conducive
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