It's not necessarily a "waste of money," but it's certainly highly deceptive. For example, China has built a large number of unprofitable infrastructure projects and abandoned projects over the past two decades. Even though they lost money, the waste during construction still made China the world's second-largest economy and aroused envy among some ignorant right-wingers. However, this cost has overdrawn the resources for the next few decades. It has caused China's fertility rate to fall below 1, meaning there won't be enough population to repay this debt in the future, let alone enough money for maintenance (even though many of these facilities were never economically viable to begin with). China's bankruptcy is only a matter of time. Moreover, China owes not only economic debt, but also significant "cultural debt" and "civilizational debt." The Chinese government and society's attempt to raise money through illegal means and extortion by issuing "cultural debt" and "civilizational debt" will undoubtedly result in another collapse.
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