Yeah yeah, I’ve heard that before. There’s a whole cottage industry of “experts” that have predicted the imminent collapse of China going back decades. Call me when it actually happens.
China’s economy is stacked like a house of cards and could come crumbling down due to some unforeseen global financial shock, but then again that sounds like most modern economies. I think people just pick on China because, instead of having a group of billionaires stack up the cards, the government does it themselves.
You just described the US, UK, and much of the western world entirely. The global economy is just a bunch of "IOU"s
China is a bit different in that regard, though.
Since apartments are pretty much the only investment for private savings, there’s a huge percentage of the GDP tied to construction. This bubble is not quite bursting, but rapidly deflating, leaving many regular people practically without savings.
Other countries have inflated real estate markets as well, but their markets simply are not that large in comparison (percentage of GDP).
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projection much
While the US sits on $32 trillion of debt…
which doesn’t really have anything to do with a healthy or unhealthy economy.
LOL. Fistfuls of copiates.
well stated good sir, you have truly changed my mind.
While the current amount is not great, debt itself is not a bad thing.
BRO WHY ARE THERE 600+ COMMENTS HERE, I’VE NEVER SEEN THIS EVER
Lemmy is a ticking time bomb.
You might want to get those things checked out. Seriously, they’re like ticking time bags.
1003 now
President of the Ticking Time Bomb Republic says that the country that hasn’t had a recession in 45 years is “in trouble” and that their 5.2% GDP increase projected by the IMF is “weak growth”.
USA probably exploded an actual bomb somewhere while he said that.
From my vantage China looks like it is in a stronger position
What vantage is that?
Seeing in my lifetime how China replaced the US in many segments here. 20 years ago, even our plugs/sockets were US-spec. Now I am talking to you from my home 5G powered by Huawei https://youtube.com/shorts/Bk7slfSLvvY?feature=share
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Bro we’re like in our third massive recession in 15 years
Doesn’t China have a history of repeatedly shattering into a thousand pieces?
Most china can only do it once
And you’re from the Permanent Kingdom of Perfect Stability where borders never change powers do not rise and fall?
I’ll take that as a yes.
He should be focusing on US economic troubles. No matter how many times he tells us we are doing good everyone sees we are not.
Just two more weeks!
32 trillion. Just one more. ✨
Holy shit a 1000+ comments
