jamesaurichs
But those investments are now gone forever.
Oh wait, probably not.
- 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
"Yeah, for example China's position of overwhelming strength vs. weak little USoA meant that China's wages have risen by an order of magnitude and their technology catapulted into the present century, building them in to the world's largest economy."
Just a subtle subterfuge against dollar if I had to guess
I guess I must have broken your glass heart a lot, if you're now so angry you're going around calling people useful idiots.
Please go ahead and list out your refutes with actual references, which you seem to never do.
There's no point to what you're doing you know? China is lead by an actual idiot Xi Jing Ping, who has failed policy after policy for 10 years. China is now surrounded by united democracies, with its only potent ally failing against Ukraine. It is going to suffer 30 years of stagnation/collapse.
This line is so wrong. You can't have 22% (at least) youth unemployment rate, and 19th straight month collapsing land sales revenue https://www.reuters.com/article/china-economy-landsales/chin... (which is how local government get most of its money), and your biggest and second biggest real estate developer going bankrupt, and still support a 5% GDP growth as mentioned by the Chinese government. just doesn't happen in a real world.
And there are so many reports of factories closing down, especially in the Shenzhen and Dongguan districts, either online videos or news reports https://thediplomat.com/2023/04/dongguans-industrial-woes-ch..., that I don't know why you're attempting to lie outright.
2.) Yes, just google empty kindegardens in China. Also, marriages dropped to the lowest since records began in 1986. https://www.theguardian.com/world/2023/jun/14/marriages-in-c...
3.) Nope. China’s government land sales revenue declined for the 19th consecutive month in July. Land sales fell 10.1% from a year earlier in July, after declining 24.3% the previous month https://www.reuters.com/article/china-economy-landsales/chin...
The Chinese local governments' bonds alone total at about $2 trillion, and any defaults would rock the Asian nation's $60 trillion financial system, according to Bloomberg. https://www.businessinsider.in/stock-market/news/chinas-10-t...
1.) as of 2021, There are nearly 800 unfinished Evergrande projects in more than 200 cities across China. https://www.nytimes.com/2021/09/28/business/china-evergrande.... Even if the buildings were unfinished, the buyer still had to keep paying the mortgage!! and if they didn't, and the courts foreclosed the property and sold it, the buyer is liable for the fees and the differences. Most of the time the buyer is hugely underwater since the real estate price in 2023 has crashed 50% - 70% from peak. And now, because your social credit is shot, you no longer can purchase tickets for flight or train, making it even harder to try to find jobs to pay back your debt.
2.) China is known for its tofu dreg buildings. Just google online if you want to see brand new condos with facades blown off, cracked foundation, sand mixture where cement should be, tilted buildings, etc. This is especially true with buildings built in the last few years. And this is especially true for buildings from bankrupt mega developers like evergrande and country garden.
3.) This is a domino that leads to a series of systemic collapse. Country garden, the second largest developer in China, missed bond payments as small as 22 million recently. It had a capitalization of 60B in 2018. Now it has a debt of 200B. Zhongzhi enterprise missed payments recently, being one of the largest trust company. People are reminded of Lehman from these events. https://www.businessinsider.com/china-economy-beijing-lehman.... Doesn't help that export and import just collapsed by double digits in July, exports to US dropped 23% y/y, there's huge youth unemployment of at least 22%, foreign investment dropped 90% in 2023, and the worst flood in the last 50 years just hit China's biggest grain region.
Oh yeah, and because Chinese citizens are outraged by Fukushima release, they are boycotting Japanese seafood, and in general all seafood, which has decimated the entire seafood industry in China overnight, with no traffic to seafood market or restaurants.
4.) Even if the buildings were done, a lot of the buildings are empty and not livable due to shoddy finish, foreclosures, no public amenities working, lack of residents (owners are selling the units at 50% price cuts), etc. Imagine living in a huge 50 story building with only a few residents at night. https://www.architecturaldigest.com/story/see-inside-a-ghost...
The English word “station” was replaced with “Zhan,” which is the pinyin or romanised version of the Chinese character.
In some places, station names such as Olympic Park and Terminal 2 of the Beijing airport were changed to “Aolinpike Gongyuan” and “2 Hao Hangzhanlou”.
https://www.economist.com/china/2022/04/13/why-china-is-turn...
Why China is turning away from English
1.) There is a very high dislike of China across the world.
Large majorities in most of the 19 countries surveyed have negative views of China https://www.pewresearch.org/global/2022/06/29/negative-views...
2.) No business need to travel there. Foreign investment is down 90% this year. Literally no US/europe presence in the trade fairs in China the summer.
3.) Flights are super expensive, because of low demand, upwards of $5k-10k. travel out of China is down hugely due to the economy, you can search on youTube for videos from Shanghai airport where the airport is devoid of travelers, and filled with empty shops.
4.) It is very hard for travelers to navigate through China. No English translations in street signs. One needs Alipay to pay for anything in China, which is complicated to setup. Ethnocentrism from rising nationalism means there could be racism/violence against travelers.
In Taiwan street signs do mostly have English translations. A lot of citizens speak English, especially night market vendors. You'll also have a lot of native English speakers in Taipei due to expatriation from US and Canada.
In Singapore signs officially are in English. And it's one of the four official languages, which means most people speaks English.
In Malaysia people usually speak at least 4 languages. Because it was ruled by Britain before, people speak English fairly well.
Lastly, in China, well, nobody is traveling there now. International travel is down 97% this year, even after reopening. And if you're doing business there, well, there's no point understanding the contract in Mandarin because most likely it won't be enforced, and will favor local business anyways by the courts. What's really screwy is the government has replaced most of the English translation on street signs from a literal translation to phonetic translation of the mandarin sound. So even if your read the English part of the sign you cannot understand it.
Mourners In Iran Refuse To Trample On Swedish, American Flags. https://www.iranintl.com/en/202307280335
Iranian students avoid stepping on images of U.S., Israeli flags. https://www.youtube.com/watch?v=aNJLG8jCq1Q
- Country garden, China's second biggest property company after Evergrande, missed a mere 22.5M payments for dollar denominated bonds. It is trying to restructure a $340B debt owned. https://abcnews.go.com/Business/wireStory/chinas-government-...
- Li Ka Shing, richest man in Hong Kong, just offered an immediate 30% off on his newest buildings for sale
- One of China's biggest shadow banks skipped payment. These shadow banks provide liquidity to real estate companies, in short. https://www.bloomberg.com/news/articles/2023-08-16/chinese-s...
Some economic related news from China:
- China stopped reporting youth unemployment, estimated around 20-50%. Which is why nobody really thinks China is growing at 5%. https://www.washingtonpost.com/world/2023/08/15/china-econom...
- China's fertility rate dropped to record low 1.09 in 2022 https://www.reuters.com/world/china/chinas-fertility-rate-dr...
- China records fewest marriages in more than 3 decades https://www.cnn.com/2023/06/12/china/china-marriages-record-...
SpaceX creates aspiration for the poor
Google allows the poor to advertise their product to anyone in the world cheaply
Facebook allows the poor to market their product to anyone in the world cheaply
AirBnB allows the poor to live in an expensive city, cheaply
Stripe allows the poor to sell their product to anyone in the world cheaply
We get Tesla, SpaceX, Google, Facebook, AirBnB, Stripe, etc...
I would call it what it is: China is in a great depression
China's REPORTED GDP 'growth' for 2022 was +2.9%. In a year where Chinese LNG demand was down 22%, their real estate market (which represents 33% of Chinese GDP) was in the midst of a collapse, literally welding Chinese citizens into their apartment buildings, and the WeChat payments flowing through their system were down over 20% yoy. In 2023, YOUTH UNEMPLOYMENT is somewhere between 20% and 50%, 48 local governments are in some stage of default on their debt (LGFV debt is approximately $10trillion or just under 60% of GDP), the majority of Chinese property developers are in default of their dollar bonds (71% are in default of over $180 billion in bonds), Xi has ordered all corporate and macro level dat to be severed to the West, and the Chinese government is reporting +5.5% GDP 'GROWTH'?! Reputable economists don't believe these numbers from the CPC
"in the second quarter of 2023 foreign investors “only put about $5bn of fresh capital into China […] in 2021, we saw close to $100bn per quarter!”
https://unherd.com/thepost/foreign-investment-plummets-as-th...
Violate any charges that the CCP police/judge wishes to place on you, and you can be locked up for a very long time, since China is a dictatorship now. Tortures include
- people staring at you in your cells 24/7
- overstretching limbs
- forced feedings
- sleep depravation
https://ishr.org/torture-methods-in-the-peoples-republic-of-...