43
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 07 Jun 2024
43 points (93.9% liked)
World News
32328 readers
461 users here now
News from around the world!
Rules:
-
Please only post links to actual news sources, no tabloid sites, etc
-
No NSFW content
-
No hate speech, bigotry, propaganda, etc
founded 5 years ago
MODERATORS
the Chinese economy is as fake as any economy can get and non of there numbers are actually public like you would have in a democracy there a dictatorship that can make up any numbers they want.
Cope lpl
hey now its almost like dictatorships can manipulate there economy's in ways democracy's cant. like jacking up your GDP numbers by building a whole lot of unnecessary shit and then crashing your property market because that's obviously unsustainable . like temperately making your war economy look good by building a lot of shit that blows up. and this is only temperately because its shit that blows up.
hey it's almost like you think that you're smarter than economists sitting in WTO, etc.
US https://www.statista.com/statistics/248004/percentage-added-to-the-us-gdp-by-industry/ China https://www.statista.com/statistics/1124008/china-composition-of-gdp-by-industry/
It's easier to jack GDP with finance than industry..
Infrastructure isn't "unnecessary shit". e.g. ghost cities filled up The chinese property market was experiencing a bubble due to overspeculation and mismanagement by firms like evergrande. As a result rents and property prices started to skyrocket. You're probably shocked to learn that communists don't like high rents and let the bubble crash and (unlike in the US handled their housing bubbles) left investors holding the bag. Because libs like you confuse the stockmarket with economy, you obv think it's crashing..
wat?
where do you think these economists get there numbers?. its almost like they get them from the Chinese government. its like giving yourself good grades. that's why there are these round about ways to try and find out what the real numbers are because you know dictatorships are not that transparent about how they get there numbers. they overbuild all infrastructure not just property that's just one big example these firms could only do this because the Chinese government incentivized it with cheap loans that's why these firms could even get these big debs in the first place. the bubble only burst once they put in rules to stop them from creating so much debt. the property marked became the stock market because the Chinese stock marked was so volatile that was the incentive to speculate for normal people.
Russia.
Exactly, and you believe that when you read western economists citing numbers they uncritically took them from the Chinese and didn't do the same calculations as you did, right? Lol
You're so close to getting it. Communists indeed like to provide housing to people, so yes they made it attractive to build infrastructure by incentivizing their markets to do so. Since they do have their capitalists that also got greedy, they indeed intervened to make that bubble burst to make rent and property cheap for everyday people.
This is a China thread?
they use the Chinese numbers in official declarations because you know its official.
they made it attractive because they needed something too keep saying that the economy was following the Chinese communist party GDP growth goals you seem to forget that everyday people used property as investment and now there investment is worthless. but hey maybe you just want to wave this away under its just there greedy capitalists.
its a dictatorship thing. making your economy look better then what it actually is.
that cognitive dissonance lol
don't buy property as investment? The sinking of prices is an intended effect. Also the gvmnt forces evergrande to finish building homes tho..
I agree that the US is trying to make the economy look better than it actually is
and you where saying i was coping.
property became a replacement for the stock-marked because the Chinese stock market is very volatile and the property market was only going up that's why some people had like 3 apartments because they could sell it again at a better price. property became a short term investment and was used like stocks that could never go down.
okay dude if you think dictatorships are better at transparency that's not my problem.
Yes your cope is just so good. Here you have a good Bloomberg article on the validity of numbers: https://archive.md/lxpMa you might learn a thing of two.
Yes? I'm not saying this did not happen? I'm saying that because the property market bubbled and the CPC didn't want it to get too bad they let it burst early and introduced the "three red lines". Now property prices are affordable again..
Implying that we have the same understanding of "dictatorships"
they first incentivized the bubble with cheap Loans so that they could jack up there GDP numbers. then when people started too use property as a investment tool like stocks because now you could not loose but was creating a lot of debt. so much that even the ccp could not let the debt grow because remember this was still helping there GDP numbers. then they introduced the "three red lines" because even for them it was creating too much debt. but of course only after a whole lot of people invested and counted on it never going down and over payed on these shitty apartments that where now a stand in for stocks. its not about property prices being affordable its about that people used property as investment and put a lot of there savings in overpriced apartments that are now worthless. and as a side effect nobody trusts the property marked anymore just like how they don't trust the stock marked anymore.
no implying that we have different understandings about how important transparency is. there is non in dictatorships. but hey if that's your thing that's your thing but if that shit blows up in your face you have only yourself too blame.