Release a new virus to cover their losses?
Those High-rise apartments with nothing on the inside are collapsing and bringing everything else down with them
At this rate Taiwan will just buy China in an estate sale.
From the Horse’s Mouth:
Developers in Tears! The Reason for China’s Worst Unfinished Buildings: CCP Extorts $100 Million
https://www.youtube.com/watch?v=xDVT60DrIbE
I wonder how much China pays our news organizations to keep this off TV, Internet and Print?
Our real estate situation in the US is certainly different. But we will also face a massive collapse. Dominoes are going to fall, and none of this is going to be pretty.
Japan in the 1980s: when Tokyo’s Imperial Palace was worth more than California and golf club membership could cost US$3 million – 5 crazy facts about the bubble economy.
You too can own ten floors of your very own ghost city high rise.
Sounds like China could use a few million migrants. I know where they can get 20 million or so. We can ship them to China in the empty cargo ships returning to China after dumping cheap products in the U.S.
“Do you think China will be able to reverse these trends?“
China’s birthrate has collapsed. While they repealed the one-baby law, the impact of it was severe. Millions of Chinese men will never have a girlfriend—let alone a wife. Hence there are no babies being born.
China is literally knocking down apartment buildings in cities that significantly overbuilt—and that are practically empty.
In 20 years, China will be a shell of the country it was five years ago.
Bkmk
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Do you think China will be able to reverse these trends?
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The list of threats and hostile actions against the US and others, and non stop lying, and major military build up by China is long. Based on that, I hope they don’t.
I wonder what US public pension plan exposure is...
RE: Do you think China will be able to reverse these trends?
Roll out the US version of TARP when the mortgage crisis happened here 2008-2009. Let’s see what happens.
Russia is currently on a tear of building new residential dwellings, following some of the Chinese model.
New houses (with Government subsidized loans) are priced higher than used, so much that the market price can drop in half, the moment the first occupant moves in. The owner is typically then immediately under water, owing much more than the property is worth. A high percentage of these new mortgages require a very high percentage of the owners income just to make the payment, increasing the risks of default during any economic downturn.
Overleveraged, on overvalued properties. In increasing numbers.
It is pumping up their GDP numbers in the short term though.