Posted on 01/24/2022 9:36:10 PM PST by SeekAndFind
Edited on 01/25/2022 7:53:31 AM PST by Admin Moderator. [history]
As of 2016, China’s empty apartment units could house New York City 27 times over.
Skyline of Shenzhen in Guangdong Province, China, in this undated photo.
What does this mean to you? There are a lot of carry-on effects from wasting so many resources. As you delve into a thought exercise to get more acquainted with the ruinous consequences of credit bubbles, be grateful that you don’t really have to worry about malicious genies magically tagging you with mortgaged deeds.
(Excerpt) Read more at theepochtimes.com ...
Hmmm I wonder if the whole City of New York can move over their and take the mayor with them.. Then, all of New York problems will be solved here.
They move to those cities before, and during our lame, woke, faggoty attempt at retaliation after they successfully destroy our contiguous 48. That’s all.
Perhaps we could send them all our homeless fentynal addicts since the Chinese helped cause the problem.
This is where most of those illegal immigrants from Syria, Sudan and Turkey should be sent to.
The idea of that much fully constructed empty space is mind boggling.
Yep. Replacement cities.
If they’re like any of the other buildings that China has built, they’ll be
collapsing any day now
It’s a communist dictatorship. The PRC isn’t bound by such capitalist ideas as solvency or even private property. If push comes to shove, they will just nationalize these properties, deny the debts and forcibly relocate people there. They don’t care about investors or private savings, and if people complain or make trouble, they’ll find themselves picking cotton next to the Uighurs. After all, everything belongs to the state.
I sure would not want to live in one for that reason alone.
Now u know why they want to take over Taiwan, just swipe another successful country to solve your debt problems. Commies do this all the time like Democrats, don’t build wealth, swip it to make your logic look good!
I wonder how many of them lock from the OUTSIDE.
Nice death traps for when the government decides you are expendable.
I finally unloaded my China Olympic tickets. I only had to pay the guy $750.00 to take them.
Funny
Occupy Wall street, BLM, Antifa, Rent is too damn high, slackers, have not occupied the empty buildings...
The first thing to understand is that all land in China is owned by the CCP, which leases the property to developers for 70 years - at which time it reverts to CCP ownership.
Second, if a young man wishes to get married, he must first own a home or apartment or even an apartment building. To buy a basic apartment, he and his family, plus various loan sharks have to come up with US$1.5 million. Without property, the prospective bride's family will disapprove of the marriage, and it will not happen.
Third, property is constantly changing hands: a developer gets a lease from the CCP and immediately puts it up for sale - this may happen a number of times before any construction begins.
The developer builds the building to look nice from a distance, but use the cheapest possible materials - like low quality concrete stuffed with cardboard. Initially there may be amenities like shops, restaurants and such.
But after the developer sells the property to someone else, those amenities like building maintenance go away to maximize profits for the new owner ; a procedure that can happen multiple times.
Owners of the apartments are faced with a daily barrage of buyers knocking on their doors and wanting to buy on the spot - condition unimportant.
Many buildings are never finished and have no stairs at all ; they are just shells and revert to CCP ownership when the developer runs out of investors or goes out of business by taking another name and moving on to repeat the process.
Eventually, the buildings deteriorate and must be taken down to make room for the next development of the same property - often by the same developer using a different name.
In order to meet China's cultural and investment demands, there must be a constant supply of homes, apartments and so on - quality is not a factor, but quantity is.
Here's a video that describes the process in detail for those wanting to have a first hand look and acquire knowledge of how China works:
Why Evergrande Collapsed - Our Chinese Houses Crumbled (2021) (youtube 29 minutes)
The PRC isn’t bound by such capitalist ideas as solvency or even private property. If push comes to shove, they will just nationalize these properties, deny the debts and forcibly relocate people there. They don’t care about investors or private savings, and if people complain or make trouble, they’ll find themselves picking cotton next to the Uighurs
—
The PRC is the formal abbreviation for mainland China and is usually used by people boosting CCP rule, as is naming the CCP: the CPC. Xi approves of using the PRC, but hates anyone using CCP or PRC for mainland China.
The CCP already owns all land in China so there is no need to “nationalize” anything. Everything not only belongs to the state, but all businesses, under Xi, are now managed by the CCP. There is no such thing in China as “private property”.
Important people who make trouble face losing everything, prison, live organ harvest. Ordinary people who make waves face the same things and are beaten in public - sometimes to death by the Peoples Armed Police, a division of the Ministry of State Security, a division of the PLA.
The CCP DOES care about investor’s money - as long as the investor does not show it off or make any statements about his wealth, or tries to portray himself as somehow superior in any way shape, influence, or fashion to the CCP (definitions subject to change at a moment’s notice), else the CCP takes the perp away and the money goes to members of the Central Committee.
The writer put this in: You would have to do some fast talking with the Chinese banks of the sort Trump managed with New York banks decades ago during the S&L crisis.
I figure the article was written to paint Donald Trump as a criminal.
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