- cross-posted to:
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- cross-posted to:
- [email protected]
Investor confidence in China’s troubled property sector has been rocked again this week by reports that one of the country’s largest private building conglomerates missed interest payments on two bonds.
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Building ghosts cities to hold 30 million people and then not filling them. Who would have thought that’s not a valid strategy for property management?
They are now filled.
Some are, but not all. The point here is building entire towns or entire new city sectors in one fell swoop instead of planning them out and building them in stages so plans can be adjusted as needs inevitably change is a bad idea. It’s things like this that have directly led to the current property market crisis.
Of course if buildings are already there it makes sense to use them, but they might have been able to put something better suited or more economically viable there if they had staggered the construction.
Your propaganda is a decade out of date. If you actually read the article, the current issue is that a lot of people aren’t receiving the housing they prepaid for.
Aside from that, I’ll take “too much housing” over the hell world of trying to find a place to live in the US any day of the week. The ghost cities complaint always seemed like coping to me.
Tankies are really one to talk about Propaganda. Go away!
How childish.
You are correct, the “ghost city” claim is about a decade old and in the time since then good functioning cities developed incorporating those infrastructure and urban resources built previously.
Zhujiang New Town for example can house up to two million people (often moving out from the 7-10 million living in the old areas) and while I dislike the urban planing of it, it was once among the foremost called “ghost city” in propaganda, yet it is larger than most cities in most states of the US as example.
I also agree that having too many flats seems to not be that bad a problem to have. Especially when 2‰ of the US are unhoused - even though there are millions of empty flats.
They have a tightly controlled economy. The government will do whatever it takes to keep a default from spinning out of control.
“Oh no, it’s the consequences of my misgovernment.”
Which government actions led this private corporation to fail?
Damn so many tankies on this thread
Happens anytime you mention anything bad and china. The apologists and downvoters come out and play. Same thing used to happen on reddit.
I have to say that of all things in China for Marxist-Lenninists to be defending, the Chinese urban real estate sector of 2023 seems like a pretty odd choice.
https://trends.google.com/trends/explore?date=all&q=china crisis
Seems China is always in Crisis according to Western news. The consequences seem to not be there though.
Instead wages increased threefold within ten years. It is funny that the Isle of Man got the most searches for “china crisis”, I would guess cause it is a tax haven and therefore sensitive to such “news”?
Without joking, China did manage to succeed through ten crisis and you can read Wen Tiejun’s book about it
Today: a weatern basement-dweller furiously defends a murderous authoritarian regime, while eating a burger and shit-posting on the world-wide(almost)-web.
In other news, there’s water in the ocean.
They’re posting from lemmygrad.ml, so that should give you an idea.
The article literally quotes Chinese state media’s report on the matter.
Touch grass, you project stronger than the Leica Cine 1. If the admins would do your job your comment would be deleted already. Click my link, does that look like there are often news about crisis that don’t come to fruition? Sure does. Do you disagree with the book you can receive from Springer Link?
While property dealings can have effects (look at my link at see at 2008/9 how impactful the financial crisis from the US was even for China), the article doesn’t manage to break beyond the general sentiment. Articles like that are often followed by high noise low signal comments which mirror sentiment of the user base, in this case mostly US dwellers that are underemployed. So a bit Sinophobia is expected, likely with topics related to property, so “Ghost cities”, “expropriations”, “shady construction” while using standards the people don’t actually hold up in regards to their own countries.
- I’m not clicking any link that comes from a lemmygrad.ml user, lol. It’s like licking a handrail in a metro station.
- This is not hexbear, nor lemmygrad, people are alowed to laugh at tankies.
- Become a journalist and write an article in CNN, maybe I’ll read it then. Until then, I’m not interested in lemmygrad blabberings.
Your attempt at bullying is just sad. Go touch some wildflowers.
What is it with lemmygrad weirdos and telling people to go touch stuff? Lemmy isn’t the authoritarian, murderous regime of china, I’m free to do as I please.
Need some tissues? How about a blankie?
Go away lemmygrad.
To be fair I mean it’s called the Isle of Man, of course people are going to Google it.
