Keep this in mind, back in 1927 China had under 500 million people, today they have 1.4 billion.
We have discussed the upcoming economic implosion in the real estate markets related to the Evergrande bankruptcy, tick tock.
Evergrande's debt is due now. https://asiatimes.com/2021/11/evergrandes-bankruptcy-still-just-a-matter-of-time/
3/23/2022 Evergrande Failure Imminent! https://thephaser.com/2022/03/alert-evergrande-failure-imminent-hold-tightly-to-silver-cryptos-for-after-the-crash/
The Chinese people do not trust the Chinese stock market. I read that 70% of the Chinese people invested in the booming real estate market over the years. It is about to go belly up. Real estate markets are going to get wrecked. House prices will fall and the life savings of the Chinese people will go up in smoke.
1927
https://en.wikipedia.org/wiki/Shanghai_massacre
The Chinese people will hang these pricks and they know it.
Call me naïve but I do not understand the desire these governments have to control their citizens and treat them poorly if they know it’s gonna piss them off. Why be jerks in the first place and risk a nasty revolt in the population that may lead to their (elites’) demise?
It’s neither irrational nor lunatic to them. It is a logical next step in their plan. If we don’t understand that, we waste a lot of energy feeling horrified instead of methodically investing it to defeat them.
You have heard the moto: United we stand, Divided we fall?
Is lock downs a form of dividing?
The desire for the CCP to lock down its people is self-preservation. The Chinese people were going to be pissed off either way, they all just had their life savings stolen. Free people can unite, protest and overthrow governments; a locked down society benefits the CCP because they only have to deal with small groups of resistance.
The Evergrande ponzi scheme created wealth and economic prosperity for many but all good things come to an end. When people started reporting on these ghost cities, investors got anxious and stopped investing. Evergrande needed that fresh income stream to keep things functioning. I think there were several cities built using foreign investments however these cities remained unoccupied. Evergrande became top heavy with too much infrastructure they could not sell.
Evergrande collapse will trickle down to all the large developers and the massive industry which makes up a large percentage of Chinese GDP, it is about to tank.
All these empty apartments will have to be sold dirt cheap to regain some of their capital to pay their debts. This will crush home prices. Now all the Chinese will be upside down mortgage agreements where they owe 3 times more than their home is worth.
I'm sure the CCP had their hand in the cookie jar when Evergrande was taking all these foreign investments which makes them partially responsible for this situation. Their duty should have been to shut that ponzi scheme down asap to prevent what has happened. Now they will pay the price for their greed.
I actually wish to purchase a bumper sticker with that very quote “United We Stand, Divided We Fall”. It’s very fitting with the current times thanks to politicians.
I’m not well versed in economics and haven’t been following much of the Chinese economy, but have heard about the impending Evergrande collapse; would this potentially signal the beginning of the USA’s own housing market crash? Or even our entire economy crumbling?