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Joined 1 year ago
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Cake day: June 24th, 2023

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  • Remmock@kbin.socialtoReddit@lemmy.worldF#€k $pez
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    8 months ago

    Catchphrases have cultural significance of having a shared understanding of the intent, both delivered straight and ironically. Your attitude is not conducive to a shared experience.

    Or are you suggesting that you never use quotes of any kind, regardless of the source?







  • No amount of “control” will work to fix something that is inherently flawed at a systemic level. The fall of Evergrande Group was merely one high-profile case of the real estate sector’s general collapse. With Beijing’s crackdown on developers’ high reliance on debt for growth, the entire real estate market, and all the companies within it, have been suffering. However, the Chinese government has been trying to resolve the crisis, having set up a financial stability fund through which it raised $9.6 billion in the first round of fundraising.

    Assume you can prop up their real-estate sector long enough, which at this juncture is akin to a federal department, and you still have to look at the reality of the real estate itself. The only value in Chinese real estate comes from the volume and location of the plot. Chinese construction teams build with the cheapest materials, regularly to the detriment of the building’s ability to last. While some have touted China’s “disposable cities”, the fact is that they are collapsing on their own and ahead of schedule. The buildings are inherently worthless and trust in the companies that construct them are at an all time low in conjunction with the real estate planning and development groups, leading to a brewing economic crisis.

    In addition, China is employing other stopgap measures that indicate a failing economy including massive currency buybacks utilizing agents to inflate the value of their yuan. However, they are not taking meaningful measures to secure the economy in the long term to my knowledge.