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Forum » ITT: Capitalism In China Is Cracking Up
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Thread: ITT: Capitalism In China Is Cracking Up

post 1645476593 08-22-2021, 10:02 AM
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ITT: Capitalism In China Is Cracking Up

Srs. I honestly wasn't aware that China has their own debt problem. I had read that a large number of wealthy Chinese move their money and their family out of China.

Why You Should Be Worried About The Chinese Debt Crisis

Cliffs:

- investment in the stock of Chinese companies hasn't been a realistic option for many Chinese, nor has it been very profitable



- housing in some Chinese cities is priced at about46Xthe average annual wage [aka: massive bubble]





- there is also massive social pressure to own a home, especially for a single man trying to compete for the smaller number of potential wives



- China has been trying to stem the inflation in housing, but unsuccessfully so far and now it may be even more difficult to attempt due to economic damages from the pandemic.



^^^
This apparent "bounce back" is attributed to increased commodity prices, not actual recovery of production.

China has a high unemployment rate:




Bonus:
- the youngest generation of Chinese have decided the juice isn't worth the squeeze as too much of their productivity is siphoned away to support debt and maintenance for the elderly so they are"lying flat"[aka: ldar].


A decrease in population [the Big Shrink] is going to be a rough ride and so far there doesn't appear to be good alternative economic system on offer that will operate in a steady state.
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post 1645476863 08-22-2021, 10:07 AM
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China will not go unscathed during the great reset
post 1645476903 08-22-2021, 10:08 AM
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They also don’t actually have a currency. The RMB is artificially pegged to the US dollar, and has been since Mao died and the country started to open gradually.
post 1645477103 08-22-2021, 10:12 AM
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why do i feel like the entire world is crumbling before our very eyes
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post 1645477183 08-22-2021, 10:13 AM
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Holy chit at 46x home price to income ratio. Lmaooo
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post 1645477203 08-22-2021, 10:14 AM
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post 1645477283 08-22-2021, 10:14 AM
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My rental property manager is from China

He has a ton of rich Chinese buying houses here
The reason is, when you die in China, the government takes all your assets , can’t leave anything to your kids

The Chinese government can’t take houses in the USA upon death
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post 1645477303 08-22-2021, 10:15 AM
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All those problems pretty much exist in the rest of the developed world too.
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post 1645477493 08-22-2021, 10:19 AM
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This is what we know, the CCP built a magnificent house of cards.
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post 1645478283 08-22-2021, 10:32 AM
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lol at CCP going lying flat

basically the chinese version of LDAR
post 1645478493 08-22-2021, 10:35 AM
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I wonder which economy implodes first, ours or theirs? I’m under the assumption that the current leaders will continue pushing the fan down the road until they’re no longer able to and at that point if you haven’t already made it, it’s basically over you.

I know a lot of folks on here aren’t on board with UBI but I don’t see another way to support entire economies with citizens who can’t afford anything to continue being productive citizens.
post 1645478823 08-22-2021, 10:41 AM
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Look up cage homes in Hong Kong. This is where the U.S and Canada are headed.

Get back in your pod and put your mask on bigot.
post 1645479703 08-22-2021, 10:58 AM
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Does op realize this applies to most economies right now??? Do you see the trillions of dollars being printed, inflation on the rise, the us gov might not be the reserve currency anymore?
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post 1645479963 08-22-2021, 11:06 AM
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Originally Posted By ontclone⏩
Does op realize this applies to most economies right now??? Do you see the trillions of dollars being printed, inflation on the rise, the us gov might not be the reserve currency anymore?
Which currency would replace it?
post 1645480293 08-22-2021, 11:12 AM
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Originally Posted By Anachron⏩
AFAIK, this is not true at all?

Now, theoretically you can't buy property in China at all - you can only lease it for 70 years. But inheritance of estates does exist...
i didn’t fact check him, only relayed what he told me
I do know he was selling to rich Chinese cause they were buying up properties with cash, full price , super quick , leaving me without a chance
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post 1645480863 08-22-2021, 11:22 AM
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Going to start seeing debt forgiveness in our lifetimes at some point srs
I probably banged your mom.

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post 1645483813 08-22-2021, 12:25 PM
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Originally Posted By IH8RICE⏩
Which currency would replace it?
crypto - if the majority of the world settled on one, the price would stabilize after a turbulent start
A million miles away - I don't.. feel.... anything.
http://www.youtube.com/watch?v=PXGZu4yxjW0
post 1645483973 08-22-2021, 12:29 PM
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mirin property prices while building ghost towns
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post 1645484043 08-22-2021, 12:30 PM
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Originally Posted By 5x10⏩
My rental property manager is from China

He has a ton of rich Chinese buying houses here
The reason is, when you die in China, the government takes all your assets , can’t leave anything to your kids

The Chinese government can’t take houses in the USA upon death
He’s lying to you. Odd, but that’s just not true at all.

https://www.hg.org/legal-articles/ch...ccessors-36773
post 1645484203 08-22-2021, 12:34 PM
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Trump would have wrecked them with another four years of trade wars.
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post 1645484373 08-22-2021, 12:36 PM
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Originally Posted By keyboardworkout⏩
Trump would have wrecked them with another four years of trade wars.
Lmao exports from China went UP
post 1645485243 08-22-2021, 12:52 PM
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Originally Posted By mcdojo⏩
Lmao exports from China went UP


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post 1645485313 08-22-2021, 12:54 PM
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I remember reading and watching vids about how in China they have build whole cities with nobody in them just to sell to investors. Justificantion is that as more people move to cities they will be needed. The only thing is these buildings are built with absolute chit chinese construction and aren't being maintained properly and will crumble to ruins before that will happen.

All in all, what is the long term prospects of an economy built on values based on speculation and the money has only speculated value?
post 1645485793 08-22-2021, 01:04 PM
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Third world countries; “buy what you want, beg for what you need”. Thomas Sowell

Communist governments become so obsessed with their pet projects (including the dictator’s personal spending habits) that they end up having no money left for essential living needs.

Is it any wonder that so many Chinese invest in the American market?
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post 1645491673 08-22-2021, 02:45 PM
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Originally Posted By SaviorSelfJT⏩
Holy chit at 46x home price to income ratio. Lmaooo
Yes, that one was a stand out.

Originally Posted By Microshaft⏩
All those problems pretty much exist in the rest of the developed world too.
Originally Posted By ontclone⏩
Does op realize this applies to most economies right now??? Do you see the trillions of dollars being printed, inflation on the rise, the us gov might not be the reserve currency anymore?
Yes, I was aware that this kind of thing was happening in non-communist countries, but wasn't aware it was an issue for controlled economies.
Originally Posted By forthenoodz⏩
lol at CCP going lying flat

basically the chinese version of LDAR
Mmm hmm. I had read about it being an issue in Japan and to some degree the US; young people just living with their parents and failing to launch their own lives.

Originally Posted By IH8RICE⏩
I wonder which economy implodes first, ours or theirs? I’m under the assumption that the current leaders will continue pushing the fan down the road until they’re no longer able to and at that point if you haven’t already made it, it’s basically over you.

I know a lot of folks on here aren’t on board with UBI but I don’t see another way to support entire economies with citizens who can’t afford anything to continue being productive citizens.
I have some of the same questions. Srs started wondering about this in my 20s, as in "If companies barely pay their workers any money then who is going to be able to keep buying products?"

It does feel that way to me too; that if you don't "make it" now then you never will. As in you should have assets of value that will not become completely worthless no matter what games are played with currencies and inflation/hyperinflation/deflation.
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post 1645491913 08-22-2021, 02:48 PM
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Originally Posted By katya422⏩
Yes, I was aware that this kind of thing was happening in non-communist countries, but wasn't aware it was an issue for controlled economies.
Printing money is a method of controlling the economy
post 1645492113 08-22-2021, 02:52 PM
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Originally Posted By XterraRob⏩
I don't think people really understand the debt situation with China.

They don't owe their debt to anyone like America does, they literally write blank checks to themselves. If they need more money, they'll lend themselves more money. As a central planning entity, they won't call in their own debt and bankrupt themselves, they'll just find a way to "fix it" so their machine keeps running. And the West keeps allowing them to do it.
In what way is it materially different than the US system of creating dollars via debt issuance? The majority of US government debt is owned by/owed to Americans.
Originally Posted By seanb1979⏩
crypto - if the majority of the world settled on one, the price would stabilize after a turbulent start
It seems like things are moving toward an electronic currency as much as I hate the idea of a government controlled wholly electronic vehicle for savings and transactions. I know that most of our money is already just 1s and 0s, not printed and that the US government is more controlling about citizens financial activities than any other country with the possible exception of Communist countries.

I swear I had heard that China already has an active blockchain based currency w/smart contracts...or something like that.
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post 1645492133 08-22-2021, 02:52 PM
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Originally Posted By miscinbro⏩
He’s lying to you. Odd, but that’s just not true at all.

https://www.hg.org/legal-articles/ch...ccessors-36773
That isn't really true.

CCP owns all things in China.
post 1645493283 08-22-2021, 03:10 PM
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Originally Posted By keyboardworkout⏩


That probably had a lot to do with COVID and the lock down. Ships were just waiting in the harbor for over 3 months to be unloaded.
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post 1645493393 08-22-2021, 03:11 PM
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Originally Posted By Jasonw1178⏩
I remember reading and watching vids about how in China they have build whole cities with nobody in them just to sell to investors. Justificantion is that as more people move to cities they will be needed. The only thing is these buildings are built with absolute chit chinese construction and aren't being maintained properly and will crumble to ruins before that will happen.

All in all, what is the long term prospects of an economy built on values based on speculation and the money has only speculated value?
It's almost impossible for a concrete or steel structure to be built so craply thar it wilm crumble (unless it's in q very high risk area prone to earthquakes and the like) yes a poorly built building will have lots of annoying and expensive problems, mostly leaks and electrical issues but they won't crumble for decades to come.

Just wanted to clarify that part, i do agree with the point you're trying to make tho.
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