

I was indeed not talking about the history of quality of life of the people, but about the way hard politics are organised. As far as I can tell, this has become even more centralised under Xi. When it comes to freedom of thought and expression of the people, I see as much reason for pessimism about recent evolution in the West (especially in the Anglo-Saxon world), but I don’t see much reason for optimism when it comes to China. E.g. look how they are not even allowed to know their own history, or how independent thought in Hong Kong is being stuffed out. Lifting, what, 800 million people out of poverty is an impressive feat, and certainly holds a few lessons for laissez faire capitalists. Then again, large part of that poverty were self inflicted wounds. And that growth shouldn’t blind one for the immense cost at which it came, and the large challenges ahead to keep things afloat.
I think you’re being overly optimistic about the dying part. Folks here are not exactly a random sample - even if many people see the enshittification of Facebook or Reddit, they will feel unable to leave. Especially for social media there’s a huge network effect - the value of the product is in the fact that “everyone” is there. Or for Google products: there are just so many different problems for the user to solve (if there’s a current solution at all!) before being able to move. So yes, the focusing on quarterly profits extracts value at the cost of everyone else, but it might not be enough to kill the product. Or at least not for quite a long time. For me the root of the problem is that we gave up on countering monopolies. This has always been a grave enemy of “efficient” capitalism, but over the last few decades we kind of stopped efforts to prevent this. It automatically leads to worse service for any client, not just in the digital sector. Worse, it leass to concentration of power in such few hands that any political system shifts into an oligarchy.