Genuine news and discussion about China
I'm generally not a fan of the Chinese government or how they run their country, but the response to the evergrande collapse was downright admirable. I dream of my government letting overleveraged parasites hold the bag when their market manipulation crashes part of the economy, rather than calling them too big to fail and bailing them out on my dime.
The profits of investors is a very low priority concern.
What matters is the material conditions of the people.
China let housing markets exist just to get the houses built. Now that they have way more houses than they need, investors are left out to dry like they should be.
There will always be schmucks trying to get rich off the market. It's our job to force the market to build things that people need. The needs of investors are irrelevant.
Glad China prioritizes low homelessness, but it would be nice if there were more regulations on quality, buildings are often unstable and collapse too frequently. Same problem with lack of regulations on pollution and air quality.
It's not just asshole investors who are out to dry https://www.reuters.com/world/asia-pacific/broken-dreams-shattered-families-chinas-unfinished-apartments-2023-09-15/
Spoonfed propaganda. Have you ever even seen the full tank man video? I was told in school he got ran over, but he literally walks up to the tank and talks to the soldier before leaving the scene
In the US you would have been brought to a black site and had your skin peeled off.
Yeah, that's why an apartment in Beijing goes for 2, 3M EUR.
China has over 95% home ownership and no property tax.