Cannot agree more--in fact we may venture further to say that it is a Chinese culture thing that drives the insane level of willing to eat bitterness to advance their material gain that is unseen in any culture . There is a reason why economists always wrong about China as Chinese people's drive to increase their living standard through entrepreneurship make Chinese economic growth defies all prediction of recession year and year...it has been 30 years China has not experienced a real recession. It has nothing to do with # people in China...think India! think Singapore! Taiwan! Also even Chinese SOE's are super competitive (more competitive than any SOE in the world)...think China's construction companies behind BRI.