Posted on 12/08/2023 4:05:29 PM PST by davikkm
China’s economy is teetering at a “critical stage,” expanding a modest 4.9% in Q3, below the five percent target. The aftermath of draconian Covid measures persists despite their removal in 2022.
Surprisingly, an economic model reliant on debt-fueled construction faces challenges. Ghost cities, idle airports, and vacant skyscrapers showcase the limitations of this approach. China’s Real Estate Market endured significant setbacks, with an 81% drawdown in 2021-2022 and an additional 64% in 2023.
(Excerpt) Read more at citizenwatchreport.com ...
Since so many Americans can’t afford to buy a home in the US, maybe China will let us move there?
I recall reading an article several years ago about “Ghost Cities” - the Chinese built entirely new cities with high rises, roads and infrastructure etc and virtually nobody lives in them. Not sure if it was true, or remains true.
“I recall reading an article several years ago about “Ghost Cities” - the Chinese built entirely new cities with high rises, roads and infrastructure etc and virtually nobody lives in them. “
That’s because most of them are literally falling apart.
Nobody lives in them, and nobody can live in them because the construction is so shoddy
https://m.youtube.com/watch?v=wJ8JBTIVUVw
Corruption.
Basically the construction companies and real estate companies used government and investment money to build cities that would never be inhabited. The buildings in question aren’t even suitable to live in. They are missing stairwells and water pipes and everything else. They are just shells of buildings.
There’s good GDP growth and there’s bad GDP growth. When the 2008 crisis hit, China started building “infrastructure.” Just taking one example, high speed trains. There are only a handful of routes where a high-speed train makes sense. There are perhaps three or four of these “makes sense” routes where the trains can operate profitably. But by building the trains and their infrastructure China gets GDP “growth.” Bad GDP Growth. China has more high-speed rail than the rest of the planet combined. Most of the trains run empty. That’s because even a subsidized ticket is too expensive, and people would rather take a bus that requires a five-hour ride over paying the fee for a one-hour ride. Since shortly after 2008, China had already built all the “good” GDP pumping projects. But they can’t stop because the moment they do then the unhappy, unemployed people start rioting. So, they keep creating money from nothing and spending it on “growth.” I’ve seen estimates that there are more housing units built and underway than twice the population of China. That’s “bad” GDP growth. China makes Enron look like a model of good corporate governance.
“China’s economy is teetering at a “critical stage,” expanding a modest 4.9% in Q3, below the five percent target.”
Still FAR BETTER than Russia’s 3.5% growth. Take that, Russia!!!
China’s shrinking, not expanding. The only truth out of China is that everything is 100% false.
Cutback includes with 6 you no longer get egg roll.
https://www.imdb.com/title/tt0063821/mediaviewer/rm1201420544/?ref_=tt_md_4
If they are saying their growth was that low, I imagine it was really negative.
And when China catches a cold….
“China’s shrinking, not expanding. The only truth out of China is that everything is 100% false.”
And Russia is a Third World country making mincemeat out of top-of-the-line NATO hardware.
We can keep THINKING that China is also a backwards, Third World, country, but try looking up some REAL statistics, like steel production or car production. It’s all there, no one is hiding it.
The ARROGANCE of the West will likely mean the end of the West...and as we’re destroyed people would be asking how we missed what was happening in the rest of the world?
Answer: We NEVER bothered to look. Pretty much the same thing that left Israel wide open to a massacre.
“Ghost cities, idle airports, and vacant skyscrapers”
Send the imigrants there to fill up the ghost cities.
Just shut up. I lived there for 20 years. Their economy has always been a lie. It was a good run, but now it’s all crashing down. I don’t give a shit about Russia’s economy. It’s the size of Nebraska’s.
Go find someone dumber than you to listen to your world knowledge. You’ve never left your own state.
At its height China’s GDP was about $9 trillion. Good enough to be 2nd in the world but nowhere close to the $15 trillion they were reporting.
“And Russia is a Third World country making mincemeat out of top-of-the-line NATO hardware.”
A recent Army mechanic AIT grad said just that. The newer vehicle replacing the Humvee is over-teched. There is no such thing as a simple battle field repair that can be done to limp it back to base. The word on this is for the simplest of problems, destroy the vehicle. Which is where our military/industrial corruption lies. Make it so complicated and expensive that they get to sell more replacements.
China might be imploding economy wise, and full of corruption, but I bet their military is not imploding and that their equipment follows the Russian standard of being dirt simple. While their economy is busy collapsing their military can be busy taking over Taiwan. The USSR did it for decades.
“Just shut up.”
No, tough Shiite. It’s not my fault that you’re CLUELESS about China and believe everything the Neocons feed you.
“I don’t give a shit about Russia’s economy. It’s the size of Nebraska’s.”
I know it - just a NEOCON MOUTHPIECE here! Wake me up when Nebraska sends people into space, builds fighter jets, and makes mincemeat out of front line Western military equipment.
Nothing a war can’t fix.
Ok moron. The neocons would have you believe the exact opposite of what I am saying. I haven’t said one word about Russia’s military.
You have me mistaken for a strawman you want to argue with.
China lies about their economy. That is a fact. I know. I lived there. I’ve done billion dollar deals with them. They lie. They exaggerate. Their ghost cities are crumbling. Their farmland is flooded. Their population is imploding and they have the largest elder population on earth.
You are the one being spoonfed neo-con lies. You and others like you pontificate about the arrogance of the west like you’re some mini Churchill sounding the alarm on Germany.
STFU. Nobody needs a history, military, or economic lesson from some dumb rube who sounds off about this shit like he just heard it on sports radio.
“The neocons would have you believe the exact opposite of what I am saying.”
Nice try, but the Neocons wouldn’t be GOADING CHINA unless they thought, as you claim, that China is a paper tiger. As to Russia, NICE TRY, but you sound EXACTLY like McCain in claiming that they’re also a paper tiger.
It’s the IDIOTS like you who THINK you know much more than obviously do know that has got us into this NIGHTMARE with Russia. You guys were CONVINCED that we could collapse Russia’s economy - and you guys were TOTALLY CLUELESS. No what? Now you guys are threatening to send US TROOPS to Ukraine...no thanks.
So stop listening to Joe Boggs and claiming that you’re some kind of high-roller type - all you do is look like a total idiot here.
“I don’t give a shit about Russia’s economy. It’s the size of Nebraska’s.”
Combine BoomerCon cringe with “’Merica, F#ck Yeah !” and this is what you get.
We now have direct battlefield evidence that USA equipment is not the wonder weapons claimed.
We have lack of munition capacity showing that the USA industrial base has imploded.
Russia has ~10 (some claim 12 ) artillery shell factories as large as the single factory the USA is building for 2026.
America has turned into a server farm with nukes. That doesn’t give the industry capacity to support a peer war.
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