- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
Investor confidence in China’s troubled property sector has been rocked again this week by reports that one of the country’s largest private building conglomerates missed interest payments on two bonds.
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Damn so many tankies on this thread
I have to say that of all things in China for Marxist-Lenninists to be defending, the Chinese urban real estate sector of 2023 seems like a pretty odd choice.
That’s pretty rude. I’m all for critism where it is due but seems like in any article about China rather than discussing the article we use the article to prove our preconceived notion is truth.
Same as I don’t automatically believe any article I read about UK/US/Europe.
“Oh no, it’s the consequences of my misgovernment.”
They are right on the cusp of the 2nd step of fucking around …
They have a tightly controlled economy. The government will do whatever it takes to keep a default from spinning out of control.
yeah there are certain things they can’t do, like magically create population they don’t have. even the BEST predictions, based on China’s own reporting (which is suspected to be very inflated) say they are in for a very harsh reality demographically speaking.
https://www.huffpost.com/entry/china-population-drop_n_63c69f7be4b0cbfd55f616e2
So yes they might be able to handle this current situation, maybe, but they are in for a very rough time of it and they have very few options.
Shrinking population +people buying as many apartments as they could as it was viewed as the only “good” investment (their stock market is a complete joke, filled with scam companies with fake numbers run like ponzi scheme). The real estate market there is due for a wild correction. The housing market in America has been manipulated by greed but at least there arent as many empty apartment buildings. Here people are least rent out their real estate and become slumlords…
