Posted on 07/14/2022 1:26:49 PM PDT by Truthsearcher
China’s property crisis is leaping out of the frying pan and into the fire. Homebuyers in 22 cities are refusing to make mortgage payments on unfinished homes, Citigroup reports. The rare protest extends the risk of defaults from offshore developer bonds read more to banks with $6 trillion of mortgages. The fat tail risk of President Xi Jinping’s efforts to deleverage the sector is emerging, and it puts Beijing in a tight spot....
(Excerpt) Read more at reuters.com ...
I watch these guys’ videos. They were living in China but have, apparently, been kicked out. (Both are Anglos, and one or both are married to Chinese women.) They video and openly discuss negative things about China.
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ADV China is great YouTube channel. They give you a good sense of life out in the rural sections of China.
China is really run more like a slave state.
The “citizens” are really more like slaves, they have no rights, their reproduction is controlled by the owners, and they are allowed to keep property and think it of as their property, but the slave owners can come by and strip them of everything anytime they want.
It will. China is way more in debt than we are. The real question is will they have to war internally or externally to solve this issue. Average China citizens doesn’t invest in companies they invest in real estate. It has failed. It’s their Great Depression (IMHO) but is still evolving.
I may be completely wrong. I don’t think I am but could be.
Yep. They have great videos. China is a land of shoddy workmanship. Not that every individual is incompetent. But they have poor standard. But really why work hard and build something that ultimately the Party owns and not you?
I simply don’t believe that a society that has such shoddy construction standards is going ti field first class military hardware. Sure they have some decent stuff for the foreign cameras. But it’s impossible to ignore that China has to send tugboats with its warships.
I think they're very close. I think you're right.
“So basically in China most people buy apartments in large condominium towers.”
The “buyers” own nothing.
They sign a 99 year lease for the apartment.
When they die, the apartment becomes the property of the CCP, the Party then leases the property to someone else. You can not give your apartment to your heirs because You Don’t Own It.
But not to worry. Due to the fantastic, old world craftsmanship of the Chinese workers the place will fall in around your ears before you hit 60.
See my tagline.
“The Chinese are revolting?
I thought they were just rude.”
And they smell too.
Yeah. They sink on ice.
They’re both married to Chinese women and are now based in the US, San Diego in fact.
Winston, the South African, had to sneak in to Hong Kong to get out of China.
I haven’t checked out their videos in a while, but I need to dive back in.
Sooner or later the real estate bubble is going to burst. You can only hide that many bad debts for so long. To be honest, I’m surprised they’ve managed to keep it contained for this long.
Oh by the way, a lot of the GDP numbers you see reported for China are crap. Real estate development is a significant part of their economy. A lot of this real estate reported at book value is not worth anything remotely like that....half finished, shoddy construction, entire ghost cities, etc etc.
“I simply don’t believe that a society that has such shoddy construction standards is going ti field first class military hardware.”
The Chinese are capable of great standards but so many of them believes that whatever junk they produce is great, so why bother.
There’s also the profits of the big companies. Chinese companies will short quality materials for second rate or third rate with no qualms.
There are many palms to be greased you know.
Weren’t they investments meant to be resold in the future for “profit”?
That’s my understanding.
China is technically a fascist nation. Allowing private enterprise to generate wealth that is then taken by the government to redistribute.
They have a number of channels, all good. Serpentza, Laowhy86, and more.
China runs under the assumption that whatever it does, no matter how henious, the world will forget.
The leak of over 1 billion people's data from the Shanghai police database has shocked the global cyber security community.
Executives from Alibaba Group Holding Ltd. cloud division have been called in for talks by Shanghai authorities in connection with the theft of a vast police database, according to people familiar with the matter, adding urgency to an internal investigation by the Chinese tech giant into how one of history's largest data heists was allowed to happen.
The investigation revolves around a cache of sensitive Shanghai police data on an estimated nearly one billion Chinese citizens, which was offered for sale online for the equivalent of roughly $200,000 in late June. Cybersecurity researchers said a dashboard for managing the database had been left open on the public internet without a password for more than a year, making it easy to pilfer and erase its contents.
The breach has highlighted the volumes of data Chinese authorities are collecting through the country’s nationwide digital surveillance system, as well as the difficulty the government faces in keeping that data secure.
https://www.wsj.com/articles/alibaba-executives-called-in-by-china-authorities-as-it-investigates-historic-data-heist-11657812800
Police data on 1 billion Chinese will expose China's reality and deep secrets; so, who did it?
https://www.youtube.com/watch?v=qZo_QnltvDg
The US is sending tons of money to China right now. Who do you think financed the Wuhan virus?
Who thought that China (or CIA or FBI or MI5 etc) werent doing this?
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