Posted on 02/05/2024 3:02:27 PM PST by davikkm
China's economic challenges are taking a toll as the fallout from the Evergrande crisis continues to reverberate. In Shijiazhuang, Hebei, the unfinished Central Plaza project stands as a stark reminder of Evergrande's default, leaving buyers stranded and uncertain about the fate of their investments.
The once-largest Chinese developer's troubles extend beyond individual projects, with a Hong Kong court recently ordering Evergrande's liquidation, a process anticipated to span years and involve restructuring over $300 billion in liabilities. The impact of Evergrande's collapse is rippling through the real estate sector, adding strain to an already precarious economic situation.
(Excerpt) Read more at citizenwatchreport.com ...
I’ve been hearing that for 30 years. I’ll believe it when I see it, and when it results in a collapse of Communism. They were able to have Communism as a poor country, and no matter what happens they’ll be richer than some of their neighbors and certainly more powerful.
Until the US cuts or stops commerce with China, they will do just fine. We are funding their survival, cut that and they fail quickly.
The key to China’s survival is how little they need to care about the poor until the bad money has worked itself through the system.
Somehow, I do not think that China has a problem not caring about their poor until the bad money has worked itself through.
Which is why any and all avenues, much like in 2020, will be pursued in order to keep Trump out of the White House in 2025.
China CSI 1000 small cap index is down 6% today, 34% over the last 6 months. That’s a significant drop, I would think.
CSI 1000 INDEX https://g.co/kgs/CQ4sCaf
The CSI 100 large cap index is down 20% in the last 6 months.
“I’ve been hearing that for 30 years. I’ll believe it when I see it”
Same here. The finances of the US are FAR WORSE than China. We’ve blown nearly as much on ‘Green Energy’ kickbacks to friends of the Democrats
Their post-Deng power struggle has started with Xi taking the third term.
Trump had China on the ropes and Xi was in deep doo-doo with the CCP military bosses - I’ve always suspected this is why the Covid attack was released and that via Hunters deals, Biden was a bought and paid-for asset of the CCP who was installed to stop Trump from taking China completely down.
Yes, and they are still around.
The CIA is projecting here I guess.
In China, the Chinese bought residential properties that never got constructed. I also suspect that major US investment firms have invested in "ghost cities" that are probably already starting to crumble due to corrupt building practices.
In fact, even the Three Gorges Dam is having major issues.
I think a LOT of people everywhere about going to be left holding the bag.
I saw a documentary the other day about China’s new empty cities. It appears the Chinese are big into investing in real estate, but the problem is that it is hard to sell apartments that someone has ever lived in it. It is bad luck to live in an apartment that has been occupied in the past.
The Chinese got around the problem by building giant ghost cities that no one lives in it. It is full of apartments that have been bought by the public as an investment, not meant to be lived in. So, these apartments do not need electricity, water, or even glass in the windows.
Strangely as it sounds, the investors can easily sell these units with a huge profit to other people a few years down the road.
It appears that one of these units is a must have for a single man looking to boost his resume so that he can get married.
It looks to me like a Ponzi scam that will have to fall apart in the future. Very strange.
It’s already falling apart. Look up Evergrande.
When Xi adopted Fascism(as opposed to traditional Communism) China got rich…but it is not sustainable.
He’s since decided to move back to more traditional Communism.
A collapse WILL come, but will they invade Taiwan in an effort to keep the ball rolling?
Likely.
Sounds like a Gordon Chang article.
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