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this post was submitted on 07 Jun 2024
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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.