Why Chinas economy is more screwed than Greece US or any other nation, maybe not IRAQ or Libya

Why Chinas economy is more screwed than Greece US or any other nation, maybe not IRAQ or Libya

www.youtube.com

Basically the video which I am unfamiliar with how to imbed, is about China and how screwed they are making their economy. The video shows how they are build and building to create an artificial growth. The buildings that they are creating have 25% occupancy and whole cities are vacant. This is creating a huge housing bubble unlike anything seen before. And China cant stop building these vacant cities otherwise their GDP will tumble along with their entire economy

FORGOT TO ADD: Says there are about 64 million unoccupied homes.

(visit the link for the full news article)

I think this is great news for anyone worried about the power house of China. They are putting themselves in bigger turmoil than the US and it will be a matter of time before everything crumbles. I was once worried about how China has this constant growth that no other nations can compete on, but now I see its just completely false. I just dont understand why its not being shown more in the media. Although I am sure its along the lines of maintaining a proper image. Anyways IF THIS HAS ALREADY BEEN POSTED I APOLOGIZE AND JUST DONT WATCH IT. ENJOY!!

www.youtube.com
(visit the link for the full news article)

China has built entire cities...for ghosts...for good times that will never come.

Poor China.

reply to post by thegoods724


Strange I just type China ghost cities/towns into google and it came up with a plethora of MSM hits.

Its been known about and talked about for years.

In the long run they've actually saved money too, if you take into account population growth and accomodation, infrastructure. 10 or 20 years from now they don't have to pay future prices for raw material such iron/steel which is in short supply in China

reply to post by mike_trivisonno


Imagine if there is a mega disaster where millions need new homes-China could provide them,and get big bucks for doing so.
Or what if they relaxed the 1 child rule in order to stop that housing bubble from popping and boost their economies with a sudden few extra billion over a decade or 2?

Or are they just hedging their bets knowing how polluted their current cities are becoming?

Hmmm,never know with China-time will tell.

Originally posted by mike_trivisonno China has built entire cities...for ghosts...for good times that will never come.

I don't think that China has planned for the world wake up moment where people look around and ask themselves, "Is all this stuff worth how hard I have to work to buy it?"

Soon they will ask the same thing about the money they are being paid with but that is another thread.

I have always known that China is only harmful to us by buying their products!

I boycott all Chinese products because they are poisonous, literally and figuratively, it is high time Sam Walton's dream of "Made in the USA" comes back to life, otherwise Walmart needs to go by way of the Dodo!

China is as susceptible to fail as the next for believing in the Almighty $ Whore of Babylon $! They suckled harder than the rest!

China has billions of people living in the countryside that will migrate to cities so they have to build ahead to prepare. See why.

Besides, they have trillion dollar surplus compare to us and small national debt. They are only at the U.S. industrial age and not like Japan, where Japan is already developed and continue building worthless infrastructure.

That is why they can keep on building. Get a grip on economics.

I should also mention that China does not have to pay any interest toward its debt compare to America having to pay interest toward its national debt. That is why the fed keeps interest at 0%. If the FED raise it, America national debt interest would balloon, and America can't pay because the debt interest already eats up 40% of the country's yearly budget.

reply to post by Silcone Synapse


More likely fraud on an epic scale that will only enrich the elite few and cause greater hardship for the billions.

reply to post by MIDNIGHTSUN


You also might want to get a grip on the economics and see why China is also sitting on a house of cards. Find out why the rich in China choose to emigrate rather than stay in the country

I have taken the liberty of embedding for you

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reply to post by MIDNIGHTSUN


They will move to the cities to do what? Work in factories producing things no one wants to buy?

How many square miles of inventory are required to move from rational planning to ideological hubris?

And who pays for the deceptions of the conman?

reply to post by mike_trivisonno

They will move to the cities to do what? Work in factories producing things no one wants to buy?

I must admit I coughed and spluttered when I read that. LOL Have you never heard the phrase 'made in China'

Read and soak it in.

www.uschina.org...

reply to post by EnigmaAgent


I wonder what the costs are to maintain these ghost cities for "the people of the future"?

They may force people to live in these cities, but then, well, that just makes them gigantic reservations, doesn't it? And all that land being left behind in the wake of the exodus falls into the hands of what party member? Controlled by which corporate interest?

The people of China are being played just like the rest of us.

reply to post by EnigmaAgent


The stockpiles of unsold good in China occupy large tracts of land. It just sits there with no market.

Sorry, China is not immune to being fleeced by the banksters. There's is just more of them and more of an opportunity to git got by the conman.

perhaps they were built to accommodate the refuges from a natural disaster or to fill with refuges whos home country(ie japan) is devastated by war or natural disaster(korea maybe?) interesting video star and flag

Originally posted by mike_trivisonno
reply to post by Silcone Synapse

 

More likely fraud on an epic scale that will only enrich the elite few and cause greater hardship for the billions.

I take your point,and history backs you up.
The elite will take the money while the masses suffer,yet again.

We are warned that if we don't learn from history,that it will repeat.
And it does over and over.

And it will always be presented as if the workers are getting the best deal possible.
Nasty.

From watching the video.... They require 50% of the cost up front with the remainder to be paid off over a term of 3 years.. When a hole in the wall apartment costs upwards of $300,000.00 American you can easily see how this is impossible to have any kind of boom.

Even people in the wealthiest nations cannot afford those terms and I'd imagine the number of Chinese upper class is not a large one..

reply to post by mike_trivisonno


They wont have to force anybody.

Migration from the rural areas to the cities is a natural part of the development of a modern industrialised nation. Its already happening.

By 2025 the urban population of China is projected to be 900 million up from 500 million in 2005. By 2030 it will be nearing 1 Billion in urban areas. They cant all just pile in to existing urban centres.

What is confusing people is a bureaucracy that is planning and acting for the long term (20, 30, 40 years), not reacting to events in a 4 year cycle.

No doubt these projects were riddled with corruption, waste and nepotism in execution but the idea is not folly.

Originally posted by EnigmaAgent
reply to post by thegoods724

 

Strange I just type China ghost cities/towns into google and it came up with a plethora of MSM hits.

Its been known about and talked about for years.

In the long run they've actually saved money too, if you take into account population growth and accomodation, infrastructure. 10 or 20 years from now they don't have to pay future prices for raw material such iron/steel which is in short supply in China

edit on 11/7/11 by EnigmaAgent because: extra text.

While it is good to have buildings sitting around for people to move in, the reality isn't that simple. These building were built because some builder/investor took out a loan and expects some kind of return whether it is through leases or an outright sale. These ghost cities were built during a huge Chinese real estate bubble and much of the population can not afford to move in to occupy. The builders and bankers are going to have to take a huge write-off/loss if your theory is true.

Besides, building something and letting it sit there is a huge waste in itself. Buildings wear down and have to be maintained, and this will cost something.

Ironically, there is more of a chance that the ghost cities will be demolished to save real estate investors.