Unless it's communist and then everyone one does

As if monarchial rule never changes. 😢

well said

Don't worry, they can mass invaded western countries, claiming to be Refugees, and woke left wing governments will let them in.

Because it's so easy to divide and control us

But people chase numbers in the West too, that's how the 2008 financial downturn happened, that's why ponzi schemes exist in the West. And I would say what China is doing now is at least controlled demolition to try and fix it.

23 inch VEINY BLACK GIRTHY KOK!

@@michaeldoran4367 dont skip your meds

Really hope what is (or will be) happening in China will warn the Vietnamese government, especially when businesses are moving from China to Vietnam. But I doubt the Vietnamese government will learn.

There is also the issue that in some rural area, it is believed that there are population that do not figure on official records. So possibly they also overestimated the number of people that are not on official records. Also, I wonder if you can claim for subsidies based on the size of the population. If so, local authorities would have incentive to be generous in their reports instead of being more conservative.

Reminds me of the 2008 crisis, somewhat.

I went to China in 2017. I saw lots of empty buildings and saw 2 huge neighborhoods that were ghost towns on the otter edge of a city. One of them at night had only 10% of the lights on...and it was 30 buildings that were about 25-30 floors each!

@@Homer-OJ-SimpsonChinese government will install lights and turn them on at night so that people will think these ghost towns are occupied.

Have to say that the current crisis is much different from that in 2008. There’s not so much subprime mortgage in China, most people that get a mortgage actually make enough money to pay it back, thus the risk is much lower. Although at a cost of economic growth, the Chinese government has a strong grip on the financial system, so the biggest banks should not collapse as they did in 2008. The fact that plenty of ghost cities exist in China perhaps proves that they were mostly purchased by people who buy them for investment instead of living, as no one in their right mind would want to live there. So if the prices of those properties were to collapse, it would not be the average citizens that would take the most damage. That being said, the real concern is that the local governments in China relied on selling land (which was owned by the government) to fund their operations, and they are currently in risk of bankruptcy, which, given that most infrastructure and public services were owned by them, that will certainly become a new type of crisis. Overall, it’s not a situation that one should be happy about, but housing market alone would not destroy China.

@@std-ci4ws " So if the prices of those properties were to collapse, it would not be the average citizens that would take the most damage." But the average citizen does have one home and they would be seriously effected by a price collapse. Those with 2+ homes would also be spending a lot less giving their net worth dropped which means a worse economy which means everyone will be hit. > the real concern is that the local governments in China relied on selling land That is indeed a major concern. The savings that many have in housing which would lead to reduced spending which will hurt the economy is a major concern but the local govt no longer being able to raise revenue from that might be a bigger concern. It will lead to higher taxes on goods/services that previously had low or no taxes and will lead to cut back on spending which will lead to lower economic output.

that is not how it is supposed to work, and very unfortunate for any investor

chinese buyers should learn from video game developers and how they raise money through pre-orders and bundles but never actually deliver on a game they promised

​@@ericfloyd9533Unfortunately, the Chinese don't have the same economic and legal protections and practices. You have to remember that to become influential and wealthy in mainland China, you have to have some kind of ties to the CCP. So white collar crime is committed by the government itself or government affiliated businessmen, and the CCP has a record of protecting their own and their image. It was basically unthinkable that these Chinese corporations would screw over the average citizen, although that's not to say the entire population didn't see the writing on the wall.

I’m surprised he keeps talking about property ownership but doesn’t address that you legally can’t own land in china

As I said. Government is always the root cause of the problem.

Wow

​@humvee2800 no one in china pays property tax. Property title range from 20 to 70 years. just simply pay a fee to renew it. No property tax during the 20 to 70 years . China owns the land , owner owns the unit. No property tax. In US, owner owns the unit and land, but need to pay property tax every year. Not paying property tax will evetually lose the house. There are pros and cons for both system. China style can develop and acquire land faster ( that's why china can build Bullet train faster than all countries combine). US style more freedom and liberal for the people .

"poprawność polityczna" ;-)

Never Invest in the USA stocks

​@@zakjuly6721Lol you can't afford USA stocks

Marcia Ann Bice is just a pretend know it all. Just like evergrande your investment will go bust.

Can't pronounce the famous city of Guangzhou? (While hilariously showing Hong Kong.) Can't pronounce famous leaders' names? Totally butchers Evergrande's founder's name? Dude multiple times pronounces the word "women"?! Quite the professional communicator. (Even here in Arkansas, these things aren't difficult.)

Oh yeah China about to collapse (for 25 years now)

Lmao also this guy doesn’t know the one child policy is a holdover literally from the Qing Dynasty and had nothing to do with Deng.

​@@ChristoffelTensorsYou don't have to go very far back for evidence of Chinese having large families pre-revolution. There's a difference between a cultural norm and a law mandate. Why was the Qing "policy" so ineffective to the point that Deng didn't know to avoid "reimplementing" the policy? Congratulations, your point is pointless. Have to remember, the policy was well intended to curb overpopulation disaster. It's not like policies are set out for negative effects on purpose. It's okay, they're allowed to f*ck up. You don't have to white knight for China, ffs.

@@ChristoffelTensors Thats not what he said all midwit, we understand u knew that factoid. The entire world had no clue about the one child policy, until David Attenborough asked Deng. China's One Child Policy was a secret from the West, this is very well recorded

⁠@@ChristoffelTensorswhat are you talking about? The modern policy was started in the 1970s and has nothing to do with the Qing dynasty!

You clearly don’t know how the Chinese government works if you think one person controls it lmao

It's actually a much deeper issue that wasn't touched in this vid, apart from the housing market in China indeed being a massive bubble. For quite a while, especially in the rural parts of China, people would have multiple kids but simply not register them with the authorities. You'd have 4 kids, but on paper there would be just one child and that one would actually exist in official registers. This continued for a while, and at some point local authorities made estimates about the number of "unrecorded" people, as the state knew rural populations with less control over them were still breeding rather fast. Well, those estimates would be severely overblown in the last 2 decades, simply because loads of people moved to cities and/or got education and decided to gain some capital before having children. That's what many analysis seem to miss, and just stop at reporting "+100 milion people over estimated", without really explaining how the hell can a country with such strict monitoring systems in place not realize it's got 9% less people in its borders than officially stated. Well, chances are they did know it but simply decided to go along with the lie, as it was beneficial for gaining capital from outside as well as making sure the motor of the economy was running. And the housing bubble just grew and grew. So... birth rates were going down, male-female ratio gape got wider, and provincial governments were inflating their estimates of births which were then used for any and all reporting. The outbreak of the epidemic of the virus of unknown origin only made the house of cards topple a bit faster than it would.

@@coybackus7665they had to have known because a lot of the apartments weren’t finished. The ghost cities were being built for the last ten or so years and they were being sold to city dwellers as second or third apartments because they didn’t trust banks. The reason they didn’t trust banks is because, until very recently, banks in China were known to be Ponzi schemes (and this was legal) floated by the central bank (until they weren’t). Shadow banks are still often Ponzi schemes and they are, directly or indirectly, also connected to local and central banks. Now they have been swindled by Ponzi schemes once again in the real estate market. It’s really messed up.

​@@MrQwertyman111bbbbb to n na m. Mm link

Not to mention generally everything coming from China is a lie, and if you go outside the cities it quickly becomes a third world country. There isn't just the housing issue, granted it's the worst. There are fields of ride-sharing EVs, electric scooters, etc - just a whole bunch of abandoned projects and a horribly wasteful, dirty, and broken economy.

@@MrQwertyman111 "it was beneficial for gaining capital from outside" - investment into China had nothing to do with it having more people. Its population growth has been low for a long while even as per official data, which isn't surprising as they literally had an official policy to achieve just that. Investors knew that, and still invested. Cos this isn't a farming economy.

To be fair though, the Chinese government is _extremely_ corrupt to the point these companies _have_ to lie and hide things in order to not be punished and imprisoned for angering the CCP. Doing _any_ kind of business in a Communist country is destined for failure (unless you're Tencent.)

So a communist country reliant on the dedicated work force of their citizens didn't try to protect the assets of the middle and lower classes? SURPRISING! /s

I agree but most people sweep it under the rug. Example China high speed rail which is over $1T in debt but is praised.

@@ry4nwo0t "Sweep it under the rug" = nationalized. Yes. That's what a communist country can do to "extend and pretend."

I think that way of thinking fails in today's developed nations. A city holds about 1 week of food until it runs out, so those in power just need too stop sending people the food… the 'revolution' won't last long. People from developed places aren't equipped to survive without stuff like electricity and food logistics.

Yup, I think the top of evergrande just do whatever tf to keep the money rolling and stashing most of those money outside China. They don't care.

I think it was a plow by the US to collapse China in the future. US invested in Chinese companies, so when they collapsed, they were hoping the Chinese government was stupid to bail them out. That's why Gina was in China last month, begging China to bail out the real estate investors, but China didn't fall for it. US was trying to trap China. If China bailed out the real estate investors, they would be in much deeper trouble later on. Allowing them to collapse would be the better choice for China in the long run. Now, China is heavily investing in the tech sector, that's where their a big portion of their economy is going to come from. Within 10 years from now, China will be a technological power house. You can see this with Huawei. China has the money, and the expertise to do it.

There isn't any evidence of that. China still has loads of people who could buy those homes IF population is all you care about - they're just rural people who can't actually buy it cos it's unaffordable. Evergrande's strategy had nothing to do with population, it was just a classic ponzi scheme. They kept going hard at it cos they kept getting orders from aspirational Chinese middle classes.

you don't just go half assed into giant projects like this. there variables some concrete some estimated after which it is decided whether to go forward with the project or not. it was most definitely based on estimations of population growth

@@saketchaturvedi1073are you too young to remember 2008…? I recommend The Big Short and any documentary on Madoff, then familiarize yourself with tofu dreg projects and China’s banking system (which was until recently overtly run by Ponzi schemes, still is in P2P lending and many shadow banks), and really anything regarding economics and fraud… they didn’t do it on population estimates, they did it based on greed and an assumption of exponential growth forever

Agreed 👏👍👍👍

True, i personally dont like the amount of reeverb on the sound. Everything else is topnotch thoough.

Can't pronounce the famous city of Guangzhou? (While hilariously showing Hong Kong.) Can't pronounce famous leaders' names? Totally butchers Evergrande's founder's name? Dude multiple times pronounces the word "women"?! Quite the professional communicator. (Even here in Arkansas, these things aren't difficult.)

@@anypercentdeathless❄️

I would add Perun to the list

Like the trillions of dollars that goes missing from the pentagon? How about the Panama papers? Okay bro. You need a mirror.

@@shinbi6009 You will find 50 cents in your account shortly.

​@@shinbi6009ohhhh noool, we never knew ever that every country has plenty of scammers, you're a genius pointing it out, thank you

@@shinbi6009 chinese bot

​@@shinbi6009nobody is talking about the US here.

*David Attenborough:* Imma ask you a simple question, just a harmless question, nothing will go wrong. *China 2023 Timeline:*

@@jensenraylight8011 There was alot of paranoia back than about world over population (there was even movies - "Soylent Green"), but for a leader to make an off the cuff remark like that ,and force it to be policy, was insane. "1 child" was obviously wrong, you need at least 2 children - boy & girl, to replace the parents alone.

They had something in the works already before it started, there were policies to limit the birth rate before the one child policy, including forced sterilization.

I don't think you understand: there is a Death Cult. It requires mass killings as sacrifice. Especially of children, but any and all life will do. @@RemusKingOfRome

​@@RemusKingOfRomebut, in reality 2.1 kids are ideal since you do want the economy to grow

"Oops! Our bad!" -the CCP (like over and over again)

@@tylerharry6319 they are quite good a doing things they regret later... something something admitting mistakes and learning from them 🙃

what government doesn't ?@@Reinturtle

Mao's Great Leap Forward was also a pretty big mistake

India and japan literally had the same demographic issues 😂😂 nothing to do with the one child policy

Unwanted things that is.

Yep.

And those things never change

Same shit different decade. U think "communism" would stamp out greed but nope!

They only reveal what we already know, that taxation is theft.

Well it goes deeper than that . Dagogo conveniently explains the current population situation nicely but this is just another puzzle 🧩 to a larger friction that’s taking place and can’t be ignored despite it happening in front of our very eyes I wish Dagogo could talk more about that as it will shape or influence how people navigate the nuances of globalisation amidst a not so culturally exchanging world .

It probably should have been 3 because people will often not have kids or only want 1 or 2.

@@dougnapier6441 There should have been *no* imposed limit.

that was combined with the obviously doomed belief among investors that tens of millions of individuals could own multiple apartments, keep the extras empty, and just watch the values rise.

@@dougnapier6441

That kills the banks. The banks haven’t stopped loaning for new owners yet. It will be interesting to watch.

Same thing here in Malaysia. Chinese Malaysians are also having the business strategy of throw so much money to become so big and run on debt every year. For example, Grab. They have been running on losses for so long.

Bet you could topple the whole building just by punching the walls.

I completely forgot about the quality aspect! I recently saw a video of a floor collapsing in a building in China! Fast food hi rises!

Tofu dreg construction, Classic China.

​@@rmglover3191there are crappy buildings in China but the problem is way overstated - it's not the standard case

​@@fischXI recently got back from a trip to a few countries in Africa, all countries with a big Chinese presence and all the buildings I stayed in were Chinese constructed. Let me tell you, the build quality was poor to put it in the most charitable way. It's quite scary actually

​@@peterseth3296why only china?

@@peterseth3296 The external exposure, at least to the US, to Evergrande is minimal as well. Our banking types may be craven, but they are not stupid.

You do realise the government on purposely let evergrande fail right? They could bankroll and give it limitless money but chose not to and let it fail. It was calculated.

​@@phuturephunk The issue is, mate, that China today makes up at least a quarter of luxury consumer goods. China made up 33% of BMW's sales in 2022. BMW is now the most profitable car company in the world and the 30th most profitable company overall worldwide. If China really does collapse, then they could be stuffed, as well as all the other automakers. This would then lead to the collapse of many countries. It also doesn't help when these manufacturers are taking out big debts to ramp up EVs, and EV supply is already outstripping demand. For example, VW boasts on their website that they’re spending $52 billion by 2030 on EVs. The thing is that hopefully China's collapse very quickly leads to the rise of countries such as India, Indonesia, etc. Also being an Australian, we deeply rely on China for exports. If that stops, we could be f***ed. As I say, let’s hope that India and co can develop very quickly.

Evergrande isn't the problem. Just like real estate in 2008 wasn't the problem. The problem lies in China's banks, which are globally connected and will impact almost every other major economy in the world - especially the US considering how invested American financial entities have been in China over the past decade.

see you keep your economy stable by having more facets focusing everything on construction yeah you'll drive it up artificially

government is the number one factor is these failures. government intervention invariably leads to corrupt incentives and counter productive policies, and when their policies fail they will argue that the problem is not that there was too much government but that there was too little.

You can only stack s*** that high... Eventually it'll collapse.

I remember seeing a video on china (maybe bias). but it says that china are 60% as big/powerful they claim to be.

@@rayhanakram9912the government is really the boggyman innit? We love major generalizations of world politics

Good insight 👌

It almost seems like cheating will end badly. This all will depend on Chinese ability to absorb the losses and stimulate the market like US govt did in 2008.

​@@TonymanCS The chances are that stimulus won't work. Increasing consumption requires faith in logical and predictable government, something that the CCP's handling of covid has thoroughly destroyed. Moreover, even if it did work, it probably wouldn't be enough to stimulate the whole economy, since China's household consumption share of GDP is very low, still under 40%, with the rest being companies, most of them state-owned in part or in whole. In order to stimulate the economy based on consumption China would have to drastically increase that share, something which would involve firstly diluting the CCP's own economic control, while at the same time greatly increasing wages, which would undercut its manufacturing sector. Japan and Korea have both struggled to increase their household consumption past this point, and they have the advantage of much more flexible economies and democratic political systems which can tolerate changes to the status quo.

You are correct - debacle is wide-spread, deep and irreversible.

@coldfusion there it is, subject to many more episodes

My man cant even spell the party right

Capitalism for the poor; socialism for the wealthy.

"Funny" how that explanation could describe either China or the US.

@@tessiepinkmanGlad you caught that!

Yeah. Ironic how Americans are all 'I hate Socialism'. The USA has the most Socialist laws regarding big business and banker bailouts that could exist. It's only poor people who can't have decent healthcare. You know those Wolf of Wall street characters will get a big fat check when their investment company loses a Billion Dollars on crazy gambles in Chinese real estate.

What's funny is that people still call china communist or socialist. And Russia for that matter. they never were, it was just a front for authoritarian dictatorship

Nothing funny about everyday people being financially ruined.

Surveillance makes their country one of the safest

Not nearly as much surveillance as in the US

3 million

No kidding. Watching that episode felt like a fast paced thriller movie

I agree. How many people would exist to buy them is irrelevant. It is just the way they ran their business. I believe the phrase used was "pyramid scheme." Companies like this don't have their own capital from other solid sources, they sell the idea and spend all the money from investors. Since selling is their only source of capital, they just keep doing it over and over until there is no more money coming in, all projects cease, and all the money is gone.

I would assume that demographic numbers do factor in, though not as the absolute basis, and more as part of the market research. Stuff like 'we could build a new development targeted at early 30s buyers on the east side of city x, as demographic data says there is a lot of people in their early 30s there'. Which is just one factor of many

Absolutely. I was shocked when I read first time about real estate prices in Chinese provinces that were higher than in European and American cities where average incomes are 10 or more times higher. With even worse buyers using bank credits for purchasing not yet built apartments (not mortgages on build housing) in a corrupt post-communist society. The influence of the 1-child rules on that investment fraud (kind of Ponzi scheme) is probably very limited. China will have to face other consequences of that population decline - most probably less problems than if China would not have adopted the 1-child rules.

That's actually a good thing, then. If China has more lower income people in rural areas, they can become workers. China will train them and distribute them where they are needed.

given their birth limit policies I doubt it

@@jukio02 What is actually happening is the people out of jobs in the cities are being forced to move to the country or go outside the country to get a job to survive.

@@tedmoss I don't think it is as bad as western media is claiming it to be. I think the media is very biased against China.

​@@tedmossthe great leap backwards?

What country are you in?

What?

.

Wow. Canada!?

Smells like Canada for sure.

Hgsay

Agreed. It’s so hard for journalists these days to tell the truth. And with the barrage of bombardment from little pink armies, it’s really hard for journalists to stay square these days

You will learn shit from this guy. Read more form others.

Dude puts out better Documentary/Video Essays than Professionals

You could check out serpentza or laowhy86 if you want to learn about China.

Same here. Thing is, you don't get this level of reporting from mainstream news these days - they're more interested in either pushing their own political views or filling space with "news" about celebrities.

Businesses from China hold huge amounts of wide range of assets accumlated in the last 2 decades. Should it become really bad in China, the state and by proxy major companies will try to liquidate said assets, and the scale would shake the markets enough to cause a general panic. Besides that, many businesses from the west (including the financial sector) are pretty much stuck with assets in China and need to play with whatever cards will be dealt in the coming months. Should both things happen at the same time (loss of value for China assets, major sale of assets owned by China in the west), a nice global crash will happen. Probably few people know the real scale of things, but if you look at the portfolios of major investment firms from the US and check which and how many business in the US are co-owned by China based companies (so in essence the state)? Not a pretty picture for sure.

You are forgetting about the amount of manufacturing that China does and you need to factor that in. Also, the other person is correct in that a lot of people are investing in China on the down low. Not only that, but China launders money abroad (as did Russia). If China has another Great Recession or Depression, Canada’s economy will immediately collapse. That’s the one domino I am immediately sure of, and it would be enough. I’m sure, as the other person said, there are more. Side note: the reason China’s economy doesn’t seem to be significantly impacted is the government is currently keeping everything together with duct tape. That’s not a permanent solution, but it’s possible they’ll find a long-term one before the worst comes.

I am sure that USA long term plan is to withdraw all their business from China, and even draw other non US companies to manufacture in USA, and that is why America is letting in all those illegal immigrants to basically create cheap labor of illegal immigrants. A form of modern slave. Chinese slaves isn’t working any more and there is no future in that.

He is exaggerating, chinas real estate crash is a good thing because they wont end up like japan, they poped their bubble early

Gentlemen, we cannot allow the Big Red Financial Juggernaut to come rolling across the Earth. We, in the West, were ever so keen to participate in the burgeoning Chinese economy. It went on for decades; the payoff was good, but nobody stopped to look at or admit to the excesses. It seems, once again, pride and arrogance could, very well, be our undoing. We will have to set aside our political issues, territorial issues, military issues, etc., for the moment, AND MAKE SURE that the Chinese economy can be vibrant, so that global catastrophe does not happen. We're in this together. We cannot standby and ignore the problem.

That's not what happened to Easter Island. The Moai were made without cutting down trees, and were moved into place with rope by literally walking them, tilting them from side to side, something easily manageable by a small team of workers. The trees were cut down for canoes, and their nuts eaten by rats, leading to eventual deforestation and the extinction of the Easter Island Palm. And even then, centuries afterwards at the time of first contact, the Rapa Nui had a thriving society that had adapted agricultural techniques to prevent erosion and soil loss such as rock gardening. What did them in, and what ultimately led to the island's final ecological ruin, was smallpox, and later Peruvian slave-raiding.

No they didn't. You got both Easter Island wrong, as explained above, and China wrong. Those empty monoliths are in urban areas, not farming areas. There is a problem in that they were built more in tier 2 and 3 cities rather than tier 1, but those are still cities.

Instead of quoting tired old debunked myths, why don't you try coming up with something new?

I agree

You can’t trust any numbers produced by CCP. Need buckets load of salt

that is a stupid remark

Could trigger really bad results in many international pension/savings funds, if they have had investments in the chinese property/construction market over the years.

You would think that a decline in Chinese construction would mean cheaper construction costs in Canada but alas, we're still being told that material costs are going up.

IT MEANS YOUR SCREWED LONG LIVE THE 🇺🇸

Canada is facing the same problem as Australia. High interest rates are killing off developers who would normally be building apartments and houses and in the midst of this crisis both governments are trying to hide the lack of real economic growth through massive immigration. It's a total disaster waiting to happen. Young people will not be able to afford their own homes and rent will be so high that vulnerable people will be left homeless.

@@ElijsDima It won't. Almost all of China's debt, much like Japans' debt, is internal. Unlike the American crisis, which was exported to the rest of the world owing to a lot foreign (especially European) buying of American debt. China's reserves are also the highest in the world and their central bank has a lot of leeway to use monetary policy as, unlike the west, they're not having an inflation problem (quite the opposite in fact, they're dealing with deflation). The main concern outside of China is a slowdown in Chinese production, leading to a supply squeeze and less demand for raw materials from Australia and Canada

you didnt watch the video then. 🫵🏾🤥

@@hydrohasspoken6227 they wrongly predicted their economic growth, leading to a belief that the demand for housing would have been greater than it actually was, and they used high leverage to fund ventures that obviously became worthless. It seems like the behaviour of a country that thinks they’re gonna be on top of the world forever.

Yup, you can't climb the mountain forever. Even if it's the tallest mountain eventually there's the peak. Perpetual growth is like perpetual energy. Not logical or realistic.

It's not impossible that they would continue to grow tremendously forever. They just failed to do so, and their investors refused to see it.

@@renato360a that growth was possible because of great planning and great use of resources at a stage where China was basically a green land of opportunities. With time growth diminishes as with every economic phenomenon, it was only a matter of time. It’s easy to build a whole nation with debt that you think you’ll be able to repay as growth allows it, but when growth stops that’s when the issues come to light.

Should of bet on American 🇺🇸 not Chinese 😂

@@johnmartin3735 Always bet on America.

​@@johnmartin3735 Bet on what? A crumbling infrastructure that nobody has attempted to fix in the past 30 years. Sky high national debt in danger of defaulting. Printing money to try and ease that debt but is just delaying the inevitable. Political parties that are so polarised each side is more interested in being right than serving it's voters. Don't get me wrong, America is a much better country than China in every way possible. But honestly America should have bet on America and not relied on cheap labour from China to enrich the few while leaving everyone else to struggle.

Having an economy tied to one country is not the best of strategies. Australia should consider that and start setting up contingencies for a more uncertain world order.

​@@zootsoot2006 even the Chinese are doing it!

Any ideas about the alternative?

@@julius43461Go with the flow. That’s all you can do. Can’t fight nature.

Like give up safety net that due population aging is going be unsustainable?

@@fidelio9301 I often hear complaints about our infinite growth economy, but I am yet to hear about a viable alternative.

@@julius43461 You just accept things go up and down and adapt to that, it's really not hard to figure out.

Lol all governments do this

If Beijing plays the “taiwan card” to distract the chinese population from destroying the ccp, it will have an even bigger mess on its hands.

Of all big nations, China is the least likely to do this. Chinese culture is more concerned with prosperity than war, and war is bad for business.

sounds horible compared to older vids

yeah i scrolled through comments for this... mic is off, also sounds like he is in a hall.

@bhco He might of recorded it somewhere on the go. He has awesome music and he is pretty damn intelligent. I am sure it's a one-off because he understands the need for quality ☯️

Really?.... No wonder things were cheap this summer.

Its called city planning? Lmao it's just like how journalist report on China's ghost cities and "new abandoned subway station", years later and its flourishing and in use... Because you know... City planning?

With all respect but “Birds’ Net” (I.e National Stadium) is in Beijing

@@qianboyin1872 That's how you know he's a liar 😂😂😂

@qianboyin1872 I may be wrong with the building's name (hence the quotes) but if you live in Shanghai then you know which complex I am talking about. It looks like a facsimile of birds nest, it's lit with neon blue at night and probably 10 kms out of central on the way to Industrial areas in the south. As I said, it's been a while since I went there and the moot point of my comment remains the same.

@@prashkd7684yeah, yeah, dig yourself deeper, Skippy

Source ? Proof. ???

Nope. Once the company runs out of money, nobody gets paid. Like this video says, essentially a waste.

That will depend on the contracts they signed, of course. But it is a moot point when the party that is supposed to pay you back stops existing.

But how can surveilance state get their population nubers wrong ? They have censuses ? Babies have birth certificates/social security number/passports ?

⁠@@Espen.Johannesen If you aren’t being sarcastic, the answer lies within “surveillance state.” When you control everything from within, you’re granted the ability to control (most) everything going out. It’s easy to add or lose a zero here & there when the only checks & balances in place is yourself.

Source ? Proof ? China is not capitalist . Of a company goes bankrupt in s china . Govt takes over . So no loss to china This is what happens when u get economy education from wish .

Listen to what the Chinese young man interviewed by the Chinese-speaking older white man at the beginning of the video had to say, and it will add up better.

They can't collect the money that is owed them either.

Belt and road has completely sabotaged poorer countries along the way. They Loan money to the country, send in Chinese construction workers, and there's cases of environmental sabotage. They completely blocked a river when building bridges and it would take billions to fix the mistakes.

They can fix the property issue. They just choose to do it in a way that is less expesnive for the government. Hence why they started the various policies to somewhat deflate the bubble before it fully burst. For comparison, look at how fast the 2008 bubble collapsed, and then consider that the evergrand/real estate collapse in china has been ongoing for more than a year already, and still doesn't seem to be at the peak. Gives people and the economy more time to adjust, which buffers the overall effects of the collapse, and allows adjustion. Still really bad for affected individuals, but less catastrophic knock on effects.

​@@tedmossthey are not interested in the money. They want the minerals.

Because this chinese real state problem is a western construct. The west keeps on harping and repeating this more out of wishful thinking that it will happen. The truth is the chinese government started the downfall of Evergrande, they didn't like the fact that Evergrande just keeps on borrowing i they institute a policy to limit corporations in their borrowing. Evergrande couldn't keep on borrowing so it collapsed. You confine yourself to western MSM too much, that is why you are so misinformed and disinformed. Try other media such as alternative or independent media for you to get a balanced view of anything China. You do know that you won't ever, ever see anything favorable from the western media, don't you? All you get is skewed or twisted interpretations of what is, or outright lies.

Well Japan got intentionally fucked over by the US in the late 80s (as is typical). A similar story is playing out here as the world’s hegemonic ruler continues to bully

Sounds about right. It's similar to the US right now, but 10x worse. The best that the young generation can hope for is for the baby boomers to pass away, or to move to a less desirable part of the country to be able to afford a home.

​@@CJ-re7bx Only a minor issue with the second part is the jobs. Remote work is even less of a thing in China than in the US, even though the wage cut wouldn't matter when you live in a "ghost" city

@@Demopans5990 yeah, I also understand that it is quite a bit more difficult to just pick up and move in China. The hukou system that they currently use makes it more difficult to put down roots in a new area.