Western media outlets have absurdly claimed China's economy is collapsing, due to a crisis in the real estate sector. But in reality, this is part of an inte...
  • Infamousblt [any]@hexbear.netEnglish
    591·
    10 months ago

    Western media can’t understand a real estate sector that focuses on housing people rather than creating investment income, so it can’t properly report on China’s real estate sector

    • czech@low.faux.moeEnglish
      327·
      10 months ago

      Yes, when Evergrande fail to pay their bondholders due to insolvency it’s actually a 4d chess move to house the people.

      • ghost_of_faso2@lemmygrad.ml
        321·
        10 months ago

        Evergrande fail to pay their bondholders due to insolvency

        The people are already housed, China has 90% outright house ownership (UK has about 30-40% btw) whats happening here is that its peoples second/third homes that they planned on handing off to either family or built for projected population growth that turns out has slown down a little.

        They literally have too many houses. I know what issue id rather be having.

      • LVL@lemmygrad.ml
        28·
        10 months ago

        The topic is literally covered and explained like 3-4 minutes into the linked video.

      • cfgaussian@lemmygrad.ml
        11·
        10 months ago

        They gambled and they lost. Should the state bail them out for making bad investments? What are you, some kind of communist?

  • DamarcusArt@lemmygrad.ml
    191·
    10 months ago

    I wonder how much these people believe this stuff and how much they are just trying to soothe the public and vilify China at the same time?

    On the one hand, they “predict” this so often that it seems obvious they don’t honestly believe it themselves and are just lying to people, on the other hand, western economics rejects any socialist understand of the economy, including the labour theory of value, so they may just honestly not have any idea what a “collapse” looks like or why they happen.

    • ☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOP
      201·
      10 months ago

      I really think that western leadership gobbles up its own propaganda at this point. We already saw this with the proxy war against Russia where they genuinely expected Russia to collapse both militarily and economically because they convinced themselves that it’s just a gas station with nukes. We can see the same kind of mindset exists regarding China where they thought they could cut China off from chips and China just wouldn’t be able to figure this stuff out. Neocons are just an echo chamber of clowns telling each other what they want to hear.

      • DamarcusArt@lemmygrad.ml
        131·
        10 months ago

        Yeah, the more I see of it, the more it seems that they think that way. They aren’t starting a war with China because they realise they can’t win, they’re not starting it because they can’t decouple successfully and would lose profits. They honestly seem to believe their own hype on everything. At least that means that their fall is inevitable, I just hope they don’t end up taking the rest of the world with them.

      • Aquilae [he/him, they/them]@hexbear.net
        9·
        10 months ago

        Seems to have been true for Palestine as well. All those Mossads and Iron Walls and shit yet they were caught completely off-guard by a couple dudes with bulldozers and drones.

        • LarkinDePark@lemmygrad.ml
          5·
          10 months ago

          I think they knew very well that attack was coming but wanted to use it as an excuse for their genocide. They weren’t caught off guard. Agree in general that their capabilities are vastly overrated.