/biz/ - Business & Finance

>>50401627
Bump very interesting dissent

Sum Ting Wong.

>>50401627
Bat soup got banned just like sopa did in Brazil

>>50401627
Because those mortgages are for apartments in ghost cities used to prop up their GDP.

https://youtu.be/ZNUP4Dcslyc

All jokes aside, I wanted to see what the bugmen truly think, so I went to the source: Reddit.
Holy shit, is it amazing to see so many unemployed speds have a slapfight.

https://www.reddit.com/r/Economics/comments/w0qtmu/people_across_china_refusing_to_pay_their/

>>50401627
search "bai lan" on youtube and you'll get some cool videos.

>>50401627
4 and one half months.

China is repeating the same unsustainable development america has been doing for the past 50 years but they decided to take it to its logical conclusion immediately by compressing the timetable. They fueled current developments on the prospect of future growth and they're now realizing that future growth not only isn't going to meet their expectations but isn't coming at all. So the developers have stopped building everything, including the homes they're already contracted for.

>>50401627
not a bugman but I thought it was because of the bank runs and banks refusing to pay.
Makes sense people can't pay after that shit happened.

>>50401627
Chinamen are starting to not give a single fuck about anything anymore
They'd rather actively fuck themselves over if it means fucking over the CCP at this point, it's actually beautiful to watch.

>>50403565
yeah probably but go back to redit anyway

>>50403684
Never been there in my life, I categorically refuse all links to the place even when they'd be objectively useful.

this sums it up pretty well. their property bubble inflated due to the uncontrollable urge for risky gambling that the chinese are known for, and now as multiple bubbles around the world burst and we head for a global recession, china is going to get fucked hard. hopefully their version of the great depression

https://youtu.be/lCRRsiFoogM?t=347

>>50401627

China heading towards a great depression. Then the domino effect will happen next.

>>50401627
In China the mortgage is from the reservation of a unit to the buyer. With developers not building anything anymore, property 'owners' (no property exists) have said fuck it.

Isn’t their entire economy built on the real-estate backed bond reserves? Has their 5 year 10 year yield-curve inverted?

bobos right even 15 years later

>>50403844
It goes deeper, all state and local governments in China can only raise money through selling land leases

The city council of shanghai pays for the covid robot lockdowns by fueling this bubble

>>50403828
>mortgage is from the reservation of a unit to the buyer
wut go rong, etc

>>50405232
>Developers only delivered around 60% of homes they presold between 2013 and 2020
lmao.
Evergrande, Nomura, Bug Builder Inc. - Goodnight Shanghai.

>>50401676
>Sum Ting Wong.
Based, wish you had digits with that

>>50401627
Out of the top 20 real estate developers like 13 of them are on the verge of bankruptcy. Normal chinks are sitting on a lot of apartments in ghost cities as investments and they can see the writing on the wall. Selling is impossible so many refuse to put more money into it as banks foreclosing on it is preferable. Banks will be forced to hold these worthless apartments

>>50405897
>Normal chinks are sitting on a lot of apartments in ghost cities as investments
read >>50405302 carefully.
Ching Chong All Finish Next Week Developers Inc. havent yet fucking BUILT 40% of the houses they sold in the last 7 years. Theres ghost, and non-fucking-existent. And with material cost inflation, the developers couldnt even afford to think about building them now, not to mention, the moneys gone. No cunt sane is gonna go on paying for vaporware.

>>50401627
Nothing will happen. They will fuck with their social credit scores and the goys will pay their mortgage like the good cattle they are
T. Bugman

>>50402091
What then?

shill here >>50403684

>>50401627
Based. I am starting to love the chinaman

>>50401627
refusing to pay? i hope that this gets reflected in their social credit score.

>>50401627
CCP saw writing on the wall during evergrande fiasco and forced unwinding. somebody's got to hold the bag though...many such cases. still beats the alternative. its just a cheeky 6 billion. plustoken scam was 4 billion.

>>50403712
The overly anti-China content tends to be wrong, like Gordan Chang's "The collapse of China". In the case of this banking stuff, it's the new FUD for Chinese stocks or whatever. After two years, you will realize it was one big nothing burger, just like the last time back in 2013 when China was supposed to collapse but didn't.

China was also supposed to collapse in 2006, 2001, and 1997. Each time there was some looming catalyst that would end the nation, stocks went down, and the Jews bought everything cheap and 100x their investments a decade later. Also, for the sake of our portfolios, you don't want China to collapse for the same reason you don't want the US to collapse.

The tax system in china is retarded, so the government's entire income is based around selling leases on land

Which is why they've been building like crazy for the past two decades

Like so many other scams, it all started falling apart the moment the broader economy started having problems

>>50406948
>you don't want China to collapse for the same reason you don't want the US to collapse.

as the global manufacturer its not even possible to collapse in the same wasy as usa is preparing to do.

>>50406985
Onshoring and supply chain resiliency are the current trends in the wake of all the rona suppply problems....this is not good news for China

Entitled virus. Coming.

>>50401676
Kekr

>>50406985
This. Ain’t gonna happen anytime soon

If china can build fuckton of useless empty apartments that no one wants to buy, why can't the USA? Specially when every zoomer is clamoring about how they can't afford to move out of their parent's.

>>50407403
The simple reality is, our tech is more advanced than theirs.

Why go through the effort of building an entire, pointless apartment that nobody will ever live in as a speculative investment asset when you could just put the same amount of speculative investment value, or more, into a bunch of data stored in a cloud on the internet that has almost no physical cost?

>>50401676
kek

>>50407403
they've built so many because they've used shitty materials and workers. as much as people laugh at mutt cardboard houses, they are 1000 times more resilient than chink apartments. no one wants to live in a tofu-dreg.

>>50401627
bugmen arent allowed on the internet

>>50407403
Apartments made out of carboard, spit, and wishes

>>50407403
Oy vey, think of the (((homeowners)))

ZE BUGZ
YUO VILL EAT ZE FUCKING BUGZ GOYIMM
AND YUO VILL NOT LIKE IT
BUT VE VILL NOT CARE
GOY

>>50401627
they should open the doors to priced out middle class white urbanites to finally own their own apartments, i'd go in a heartbeat

>>50407014
>THE CONSUMER IS WHAT MATTERS
>THE PRODUCERS ARE NOTHING WITHOUT CONSUMERS
Americans everyone.

>>50407403
It's a pain in the ass to build apartments in America. Right now they can keep raising rent because there's not enough rentals.

>>50403565
Sounds like this will just lead to a network of Kowloon style walled cities cropping up across China. Maybe we can sell them NTF's off our store. :)

>>50401627
>chinese developers pocket money
>build substandard buildings
>people stop paying for substandard buildings
>chinese developers and government collapses like substandard buildings
lmao, lol

>>50407574
I bet China could attract millions of prime working age millennials if they offered them free rent in one of their ghost cities for a couple years

If I had to guess, the value of their investment which is nothing more than a bare concrete room in a skeleton of a skyscraper in a ghost city is now dropping like a rock and it makes no sense financially to pay offthe mortgage on a worthless property.

>>50409729
fuck that would be so comfy
i really regret never being able to visit Kowloon
instead i’m surrounded by sprawl and parking lots

>>50401770
reddit is banned in China while 4chan isn't

>>50406948
The China bubble not popping in the past doesn’t mean it is never going to pop. They’ve made insane growth over the past 50 years but the foundation isn’t sound.
Demographics alone will kill China by 2050 at the latest
Chinese labor is 12x more expensive than it was in 2000 and when combined with zero-Covid lockdowns, corporations aren’t looking to invest more in China
Xi Jinping has formed a cult of personality and been accidentally putting in place bad policies both domestically and abroad

Do I think China is going to collapse tomorrow? Of course not. Do I think they are approaching their zenith? Yes.

>>50401751
eurofags do every single thing this eurofaggot is talking about
get ready for your vaxpasses to turn red in a couple of years

Australia still has concentration camps

>>50401627
>refusing to pay mortgage in CHINA

China is letting them default.

>>50410211
People thought Japan would buy up the entire US in the 80s. Their stock market peaked in 1989 and has literally never returned to that point. In my entire lifetime, the Japanese stock market has been lower than that peak.

>>50409779
holy shit that bus tried like hell and almost made it

>>50410469
kk. but we all know the US stock market will never peak and average 8% forever. the US is different.

>>50401627
>bank literally rugpulls billions in deposits
>the people unsurprisingly want to fight back
it's that simple

>>50408231
He clearly said manufacturing is returning. If you can't read English, don't post.

>>50402010
I’m guessing it’ll get you put on an FBI watchlist.

>>50410252
There's no such thing as bankrupcy in China (asside from Shenzhen).
>>50410211
Absolutley the right take. China will not collapse from this alone but it's just one more thing adding to the pressure on the CCP. When it explodes is anyones guess but all I know for sure is that it'll go bang one day soon. My best guess will be when Xi dies or finally retires. The power vaccume will be massive and we'll likely be looking at a mess much bigger than when Mao died. One day we'll all wake up and 'China' as we know it will be gone. It'll bring pain for all and an end to globalisation with it - but it'll also be a massive oportunity for anyone with the foresight to prepare.

>>50409785
Tbh I would do it and risk living in the shitty apartments