Understanding China


#781

China is heading to the moon and beyond:


But they are not going there for prestige and PR value only.


#782

china makes it to the moon (50 years after the USA)and the USA land on Mars but china beating the USA, sounds like the writer is trying to sell his book


#783

The Chinese can’t go anywhere without stolen US technology.

China was still using hand shoveled coal fired steam trains until the US opened its market to China.


#784

Just spent a few days with a relative who is working in China for 5 years in Beijing he says lots of big issues you dont read about happening in China and the gov knows about and trying to fix
The rich that made it are very rich, most didnt make it and wont any more as that wealth was in a property bubble but they got out.

The gov is getting concerned every young person thinks the world is in their phone and you get everything from your phone.

They know the e-commerce is killing the country by removing all the good jobs.

30% meals consumed at home in Beijing are internet orders, gov is having a problem dealing with garbage the packaging is creating.

I’m hungry, your phone can solve that, dangerous mentality that it solves everything.

They banned coal as heating source in Beijing but most people cannot afford to turn the gas on so they are freezing in their apartments.

If you dont live with your parents when you work in Beijing you cannot save any money.

Hence anyone from out of town leaves, his company has huge turnover of graduates as they realise no money saved and too stressful to work in big city, they are returning to the country.

Gov knows everyone’s money if they had savings are tied up in the real estate bubble, hence all the banks loans too

99% of businesses or products that start up are closed in 2 years if not heavy engineering as in long term projects, hence its making the take what you can now, money money money, worse than it ever was.
Its a badge of honour if your business lasts over 2 years, you might have made it.

The only graduates that can make a decent living are the entrepreneurs, that cant be everyone.

They have bigger issues internally than any other western country as the wealth divide has happened in 10 years and mostly from property but now there is not a great future for young people and everyone knows it.
They have caught lots of western diseases is a very short time.
A very small part of the population have become very rich very quickly but that road to riches is now closed.

Maybe they will just do the oldest trick in the book and start a war to divert everyone’s attention?


#785

Interesting.

Many places seem to have problems with real estate. Historically, most wealth in the US was created through real estate. 70 something percent of people in the US owned a home and it was their most valuable asset. Historically, very few people owned paper assets and most wealth was created in real estate.

Now the stock and bond markets have taken over. Almost everyone has retirement accounts invested in paper assets which have been far outperforming most real estate.

Real estate has become a lot less attractive as an asset, and it no longer creates as much wealth. While high transaction costs for stocks has disappeared, the transaction costs for real estate have become very high. So have the carrying costs. Financial and enviromental regulation of real estate have made it a lot more unpredictable, risky, and harder and more expensive to sell.

A high percentage of homeownership and consistent appreciation of property values created wealth and stability for everyday people in the US. This foundation to the economy and a middle class life has declined. No good can come from this.


#786

The QE printing money always ends up in asset bubbles due to it being badly managed
Should be used for investing in your country, not speculative punts for a few that can see the writing on the wall.
The idea of home ownership as a fiscally responsible thing to do for young people is dropping away.
In Europe you can live in some unbelievable flats in fantastic locations where the rent as a rate of return for what the property is valued is almost nothing.
For millennial’s its all about the life not making your parents happy by buying a house but travel the world, not having the female partner stuck in the kitchen and cleaning for the family
Global population has leveled off, so we dont need to make any more land,
Will we need more homes in 20 years?
The sham of capitalism is based on the premise of continual inflation/growth so debt goes away, not on continual productivity and wealth creation.
If you think property creates wealth for nations have a look at Japan and soon to be China


#787

Interesting observation about the phone focussed generation and failed expectations.

This is clearly a result of too much growth too soon killing the establishment of a self-sustaining middle class forming the backbone of the economy. Saudi ARabia faces exactly the same issue but is in a precarius position.


#788

China will own Sri Lanka sooner or later:

https://www.dredgingtoday.com/2019/01/15/colombo-port-city-land-reclamation-project-complete/


#789

European countries “fighting” to be included in China’s BRI?


Andrew Wheeler is an expert on China’s BRI and not prone to “feeling” and “believing” over substance and facts on the matter.


#790

Andrew forgot to mention this



thats why China is there


#791

There was very little exchange of “culture” in the old Silk Road and the new one will be at the behest of the the powerful- China. We had our turn and you guys did pretty well in Dublin.


#792

George Soros has come out against Xi, probably very prescient:


#793

Also at WEF in Davos; China Has Arrived (??):


#794

China is cleaning up their cities:


#795

if they can get rid of plastic waste then that will be something to praise them for


#796

At least they are making an effort.


#797

This is a China I don’t understand:


Such wast of food in a country where “have you eaten full” is a greeting is disgusting. (Or in any other country for that matter)


#798

The US made an effort. We shipped our plastic waste to China until recently. :rofl:


#799

Not only plastic waste but with a bit of “additives”, which made China eventually put a stop to it.
Now Malaysia may be doing the same, unless the greed and profit get priority over environmental problems :


#800

Australia also got in trouble with contaminated waste shipped to China so now OZ has a waste problem they need to deal with.
China needs to work on Nuclear waste, whoever cracks that will get rich