Excellent essay on the critical importance of cheap electricity in the digital world and China’s lead in this area. As a country with little domestic fossil fuels, they have no legacy industry to support and with massive investments in renewables, EV’s etc have created the first “electro state”. Decades of these investments have now paid off, allowing them to leapfrog the rest of the industrialized world. This is very clear in cities like Shenzhen.
“As we accelerate into an all-electric, all-digital age, this fundamental link is re-emerging, but with a new unit of account. The 21st-century economy, defined by automated industry, robotic, electric transport, and now power-hungry artificial intelligence, runs on a single, non-negotiable input: electricity. In this new paradigm, the real base currency, the ultimate representation of productive capacity, is the kilowatt-hour (kWh)”
Source: Epicurus-fan