About Huawei stores being empty, some seems pretty crowded at least on the first day. https://youtu.be/YFeE2xHQVRI?si=2-tqnqXj8aF8srN6
There are good indicators that an economic stagnation or recession are coming, and that could potentially hurt the CCP long term.
Now are you going to say the data collected before is unreliable somehow and this time it's reliable?
China central planning pushed for and encouraged 'over buiding' for efficiency and surplus, doing bulk deals on concrete, streamlining steel creation from iron ore, etc.
If you put aside the traditional western stock market view of companies trading in the building domain (which grew and collapsed) and look at it as state planning for bulk efficiences of scale it perhaps makes more sense.
Right now it makes sense to look at what the next five to ten year state backed push will be as we might anticipate more "one foot in the free market" bubble like growth there.
Oh wait, probably not.
But those investments are now gone forever.
> But those investments are now gone forever.
Can bet there will still be investors coming in to fill the void.
If you don't want to be banned, you're welcome to email [email protected] and give us reason to believe that you'll follow the rules in the future: https://news.ycombinator.com/newsguidelines.html. That means, among other things, using HN for curious conversation rather than ideological battle.
Someone could easily cherry pick stories about the US and make the same argument. Unsustainable debt, rampant homelessness and addiction, lifespan and healthspan plummeting, birth rates dropping, etc.
Africa and South America would take major investing to bring up to that point.
Huawei seems to be doing well domestically somehow. Way too many store front that aren't too busy.. But they have their own car brand now that seems to be selling well. I'd say half the cars in the street were some domestic electric car brand. I'd guess gasoline cars will be phased out soon
I kept reading about how devastated the country was by the pandemic - but what I saw was a ton of progress. Talking to locals though, they didn't seem to really percieve the difference :)
The original article talks about China misinformation in Taiwan. Maybe western society is running the same thing to China. Like like they did for North Korea.
Remember the "people can only get certain types of haircuts in North Korea"? Fake news, and I believed it at the time. So now I'm always sceptical on what I read from western news talking about Asian countries.
Here's an interesting satire about this https://youtu.be/2BO83Ig-E8E?si=MziI90I7xP5W4g-m
- internal purging of military senior officials. 5 out of the 7 senior officials are now missing in action. https://www.newsweek.com/china-defence-minister-li-shangfu-m.... Very similar to Mao Zedong's purging of his generals https://www.hoover.org/research/lin-biao-incident-and-people.... China has had to transfer generals from airforce and army to head up missile force, because so many generals in the missile forces were purged.
- china's export drop 4th straight month https://www.nytimes.com/2023/09/06/business/china-exports-au...
- the great flooding of northeast farmland this summer wiped out 1/3 of China's grain production. in order to mitigate the flooding of Beijing, they instead flooded provinces next to Beijing, which incidentally housed many military forces. Those forces were destroyed without warning.
- another big real estate developer, sunac, filed for bankruptcy https://www.cnn.com/2023/09/19/economy/china-sunac-ny-bankru....
- the Hangzhou asian games was a massive failure, attended by no major heads from developed countries. Cost $30 billion, while its local governments are so desperate for money, they are raiding temples