In contrast, China is embarking on a massive centrally planned compute buildout, taking advantage of cheap energy in its depopulated west.
However, without market price signals to guide investment, China suffers from significant underutilization and overinvestment.
.@parkeralewis contrasts Saylor hyping Strike preferreds as "the most interesting thing in Bitcoin" while Square was rolling out payments to 4 million merchants.
"He's in there... where is that guy?"
"In contrast, the results are consistent with the political view of government ownership of firms, including banks, according to which such ownership politicizes the resource allocation process and reduces efficiency.
Ultimately, and in line with the latter theories, government ownership of banks is associated with slower financial and economic development, including in poor countries."
The contrast between China's weak steel production but robust iron ore imports is continuing and is starting to look like a structural shift rather than a temporary dislocation, writes ROI's Clyde Russell
WATCH: President Trump contrasts his new Trump Accounts with what he called the rise of socialism and communism.
"They're not socialists. They're communists," Trump said, arguing the investment accounts will encourage children to become entrepreneurs by giving them a stake in the stock market from an early age.
He says the goal is to bring more Americans into the economic mainstream.