China Leaves American Engineers 'ASTONISHED' by the World's Number 1 Modern Railway System
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- เผยแพร่เมื่อ 12 เม.ย. 2024
- China Leaves American Engineers 'ASTONISHED' by the World's Number 1 Modern Railway System
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I am a US citizen, I love USA but I have to admit China's dedication and handwork. Respect to China.
It is all your country's invested money 🤣🤣
@@arjunsavanur7242 no..not at all! China owns US Treasury, not the other way around. Do you know balance of payments?
BECAUSE US IS TOO BUSY GIVE "FREEDOM" FOR ANOTHER COUNTRY..
More like Wall Street engineers. That’s the only thing left.
merely stating the facts and nothing new.
China Leaves American Engineers 'ASTONISHED' by the World's Number 1 Modern Railway System
Americans don't even give a sh*t about their own railways let alone getting astonished by chinese quality railways. . chinene propoganda videos are on next level dilution.
To much information
To understand why China is collapsing, we need to go back to 1993, when Beijing raised its tax on local governments to 50% from 20%. Local governments continued to be burdened with 80% of expenditures; so, Beijing allowed the local governments to control the banks.
The developers get loans from the banks to lease land from the government for 40 years. (No one owns land in China.) Then the developer “pre-sells” the condo to individual buyers to construct the condo. Then the developer takes that money and gives it back to the government to take out another loan to lease more land.
A fraction of the money goes to actually building anything. Most of the money goes to the government. So, for instance, in 2020, 60% of the money of “homeowners” went to the government. Out of $100, $48 pays the government for the land, $12 for taxes, and roughly $30 goes to construction.
About 50% of the local government’s operating budget comes from leasing land. This is an incentive for the government to raise the price of the land. In the last ten years, the price of land has increased 250%. This process has transferred debt from the local government to homeowners via individual mortgages. Mortgage debt to GDP rose from 16% in 2011 to 34% in 2021. Household debt was 5% to GDP in 2000. Now it is 62%.
This crisis affects everyone in China, both the poor and the rich. In essence, as much as 90% of bank assets are tied up in land leases and development projects serving as milk cows for local governments to pay the onerous 50% tax to Beijing - a tax they cannot pay.
Then there is the problem with the BRI. All contracts in the Belt and Road Initiative are secretive after 2015, thus undermining the financial world order. All of China's loans in the Belt and Road Initiative have "cross-default clauses": if one loan is defaulted on, all loans can be requested for immediate payment in full. And non-Chinese lenders do not know what China will do in each case, as each contract is secretive.
42% of the Belt and Road Iniative is for cheap energy extraction with the biggest clients being Russia, Saudi Arabia, Qatar, UAE and Nigeria. These cheap energy investments take a very long time to complete and take a long time to turn a profit. The other countries, like Pakistan, and many African countries, are on the verge of collapse. China's total debt exposure in the Belt and Road Iniative is 600 Billion dollars with an average partner rated at B3 / B-. the lowest possible rating.
Americans don't even give a sh*t about their own railways let alone getting astonished by chinese quality railways. . chinene propoganda videos are on next level dilution.