I love this channel so much. It’s like; “yeah the world is falling apart around you, but let me describe it in my calming voice with some chill beats in the background and totally chill you out.”
LOL.. but I got to spend $500 more on gasoline this year!! ... horrible, this must be the end of the World! Record low Unemployment is just fake news!! /s
I'm glad you didn't go with 99% of TH-camr's "China's economy will collapse in x days" attention grabbing headlines. So many well known ones did this, the deadline past and the country is still there. China is definitely in a bad place, like most of the world, but the collapsing in x days headlines are just clickbait
@@JizzSock_ Graham Stephan, Andrei Jikh, New Money, Proactive Thinker. Bear in mind the first and third ones have since changed their titles, but the video content still implies it will collapse in a month o so (they said, last month 😅). They can say this stuff with zero loss of credibility when it doesn't actually happen.
Pre-sales are a wild concept and I feel horrible for the people who bought into it trusting that their home would be built only to be shafted with nothing.
Very contextual and determined to what degree it is enforced. In singapore, citizens ordered apartments in a "built to order" program, where you literally buy a "conceptual apartment unit" which would only begin construction once all units are sold. Schemes like these can work, but usually it's best if the government made it illegal for developers to wesel their way out of it
Everytime an organization, establishment and people in general gets obliterated, the troublemakers gets compensated with a freebie in rewards, offers to the tune of millions.
Well with the economy and stocks at where it is now, I'd be disappointed if people weren't making any error on their portfolio at this time, it was much easier to navigate during the bullrun, regardless I still see and read articles of people pulling over $225k by the weeks in trades, how come?
It all depends on how long you're willing to hold for and your strategies, stocks might likely tank further, but making serious gains in this downtrend shouldn't be a problem if you're a pro
@Randy Pats That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the invt-adviser you're using?
20:05 Not only true for China, also true for Western Countries: More and more young ppl rather work the bare minimum to afford a simple, yet fulfilling life style without children instead of working 40 hours/week just to not be able to afford a car, a house and to feed a family. And why should they care for government or society if government or society does not care for them? Let it rot.
That's where I'm at. Why would I torture myself my entire life for the hope that I might have nice things some day? I'd rather be happy my entire life than miserable for most of it so that MAYBE I can have a good life later. I'll do enough to be financially comfortable but that's it.
I'm 22 and I'm at two ends of this extreme. Half of me wants to work hard entrepreneurally and be financial abundant. The other half wants to be frugal and work as little as possible.
Agreed. Wages haven't kept with up inflation and the wealth gap between the rich and poor becomes evert so apparent. Why work your life away for someone else to buy their 5th house or 10th car.
Love the concluding remarks. We are always blinded by our hatred for some of these governments, forgetting about the very makeup of these nations, the people.
speak for yourself. The only govt worth hating is the one that caused 1 million lives to be lost in the middle east, now salivating over the prospect of another world war.
And the ordinary Chinese who lose all their money just like you or me, if we lost our money, wed be angry and want to get our money back, they are no different to anyone else, it’s the government that stinks not the people
@@snuggles03 Chinese gov : lead best 40 years of economic growth in history.. 90% plus of approval rating. Toby: China gov is bad for Chinese because Toby is smart. Toby knows everything. Toby thinks every gov stinks like Toby country gov,
4:19 I was one of the architects who worked on the Evergrande artificial island theme park in this video. Evergrande was inspired by the palm islands in Dubai and created a cluster of islands in the shape of a flower. The petals of the flower formed the districts, some for hotels, some for museums, amusement parks etc. I was on the team that designed one of those “flower petals”into mock villages shown here. It’s filled with imitations of various architectural styles from around the world. It was such a ridiculous experience because we all knew this was a huge waste of time and tacky af, but at least they paid back then. Now seeing it like an abandoned ghost town is truly chilling
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@@glenwjohnson809 if you talking the coe of alibaba then yeah, but look at the middle class and below it is not pretty and those are the majority of the population
Idk there's a reason why rich Chinese move the money to America haha. It's hard for the rich to fall in America where everything is made to protect the elite in China u would have to in the party and High ranking to get that protection being rich is not enough to be untouchable . In China the rich are the only people buying houses. I had a really quite coworker in China. Turns out he was rich and bought 2 u finished homes. I hope he gets them but in China it's like 2 different worlds. There's a world where u ate poor a d everything is cheat and in arms which and u don't have to ask or think about nothing outside the community then there is the super rich. In which u could never imagine. Chinse People in your generation will never own anything..I could literally pay every coworker a part of my salary and give them more than. WHT they are making and still live happy
Well if they used common sense they would never b in this position. Its simple as asking yourself a question, how can someone put a market value into a building/property that hasnt even been built yet ? Lol. It makes 0 sense to me why someone would give money before the property is there. Yes i get its to start paying it off early but it sounds so risky & you're guaranteed to get nothing in return until "the project is finished" yea screw that it sounds like a complete scam. In the west the only reason i would want to buy a house is to rent it & have a homeowner pay my mortgage. So this type of investment would b completely out of my category this is definitely a scam & people should've put it together by using common sense. Sucks but you can only blame the people just as much, its obviously a risky investment that should be considered, I guess these people are really brainwashed lol .
@@komlat253 the politically connected in China have far more protection than the rich in the US. You are right that being rich in China doesn’t mean as much - it’s all about party loyalty and connections. It just works different than in the west.
@@Homer-OJ-Simpson well I live there for years . When Chinese want to have there way ,they never talk at using money but using connections. In China u must be invited into the party in which the benefits are given and people are usually careful not to get on they bad side. Everyone is equal in China and then there are party members. There are both good and bad sides to this. People in China are always trying to network but they rarely reveal their own positions which is weird haaha. It was too much for me .just looking at someone is enough to make some ask for your wechat 😂. They have no chill and it's not they will ever talk to u unless they want something from u .
Every year the Western media say that the Chinese economy is about to collapse, and it has been said for decades. But why every year it is said that China's economy is a serious threat to the West? How does a China that crumbles every year threaten other countries? Which of the China Collapse Theory and China Threat Theory is true🤔🤔~ Can someone answer~
@@meetv7700 China's economy is not bad, China's inflation is very low 2.8 percent. There is no real estate crisis in China. Property development in China is NON STOP The economic activities of all Chinese citizens are normal This video is bulllllsh111tt
I feel really bad for the 20-30 year olds in China who are just trying to get off the ground and stumble into a housing issues, a stale job market, a stuttering economy and massive debt issues. It must be absolutely crushing, knowing you did everything right only to find yourself without any opportunities. I hope it gets better.
@Xanmal At least one can make adjustments in the U.S. for a better chance. For instance, one could move to a different state in the U.S. where there are better opportunities, but the Chinese cannot move to a different province.
@@EmperorRyker Of course I am not living in china, therefore by nature I can not 100% accurately judge everything, but from all source I've seen, including people who do live there, it's fucked up. Which doesn't mean it isn't fucked up in many of the "glorious" western states. The USA are drowning in problems, especially all of the citizens. And it only gets worse. Here in Germany where I am, guess what? Things are fucked up as well. We have some nice ~10% inflation, energy prices are over the roof, winter is comming, and it's gonna crush us. The reality is, our world sucks for the most part. Just because it sucks in other places, doesn't mean it's better where you are. We all want better lives in some way or another. Acknowledging problems is the first step to solve them.
Reminds me of the same situation in Kenya. Youth unemployment is at an all time high and population growth is equally rising. A perfect recipe for chaos.
I met a Chinese engineer in a WeWork co-working space in San Jose, USA in 2019. His family owns 50 apartments and all are empty/locked. Said they are investment properties and also mentioned about need to own to get married. I knew back then something is NOT right.
They don't care about genuine love you know, their marriage is seen as transactional or to unite their wealth. Their culture is very different to the west.
Being in the UK & watching the dire straits of my own country, as well as a human feeling for those innocent members of the public in places like China... I REALLY appreciate your sentiment at the end. 🙌
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The UK 🇬🇧, was rich when China 🇨🇳 was very poor, now the UK is angry that China got richer than it, even India that the UK colonized is richer than it. 😆😅🤣😂
These aren't houses, only apartments. There's no land involved. And they're not buying them, only long-term leasing them for like 70 years. The land for the apartments is not owned by the developer, just leased for, again, like 70 years. The ghost towns hold the empty apartments that are next to the ones rioters have been rioting about. - 3 red lines were supposed to be a yellow light "slow down" warning, but unexpectedly cut off developers when they needed it most. - Projects in China aren't designed to create profit - they're designed to create employment. To get a loan in China, you don't show a business plan, you show an employment plan. - BRI bubble is just as bad as the housing bubble, and those projects are largely uncompleted as well. - Also unmentioned was Jack Ma's calls for political reform in China, and how their tech sector reacted to his punishment.
Their problems now are a consequence of issues that have been there since the beginning of Communism in China. While Deng Xiaoping opened up the country it was at the behest of the Central Committee that it did so. Even then, problems were already there, such as its reliance on the One Child Policy to stop its population growth, which coupled with lifestyle changes in China, has seen its fertility rate close to if not lower than most developed nations in the world. This brings me back to the Central Committee. They are infallible, as far as China is concerned. I mean, they are the regulator is they not. As far as construction is concerned, the writing was on the wall for over a decade before this, at least, yet China's government did nothing. Also, its place in the world has changed. Consider that in the decade circa the 1990s onwards, it was being powered forward by immense trade imbalances which favoured it. However, in the time since the Global Financial Crisis, its focus on high-value manufacturing to a lesser extent has seen its economy starting to stagnate for the first time in decades. That and coupled with the lack of political reform internally, has seen China amid financial scandals that its government has tried to distance itself from choosing, rather, to push the onus to lack of corporate discipline and corruption. If China wants to get serious about its current situation, it has to start looking from within and that the status quo, governmentally and regulatorily speaking, cannot exist anymore. My two cents.
@crassgop China is there to build. Market adjustment and planning is to be done by the home country. It's not China's problem. Sri Lanka is better off with a deep water port than without one, it just needs the right policies to attract business. The port is there, use it. You have to plan for 10+ years in the future
@@dxelson It's literally just a way relocate useless building projects that were previously domestic. The economy is propped up in part by the construction sector. China 'loans' another country by paying itself to build things, with expectation of 'repayment' from the recipient.
@@dxelson Sri Lankas chinese port is similar to white elephant projects like bridges to no where or airports in small towns. You can’t just build infrastructure when there is no business case. Sri Lanka economy is too small for such a big port. Sure a it is nice to have. If it were free. Instead, they got debt and a useless port.
I really appreciated your last thought on always bearing in mind that it's mostly innocent citizens who suffer economic hardship no matter where it may occur. Very informative and well researched video.
@Zaydan Naufal And Communist China is engaged in Ne0-Colonialism under the guise of the Belt and Road to nowhere. When these countries can't pay the debt trap high interest and principle back (default) the CCP demands payment in the form of a Port or Airport or a Copper mine or Oil/Gas field! No loony lefty ever criticises the CCP for this, only the past actions of the West are bad apparently.
Well, it definitely isn't the Chinese Government doing the suffering. As you can see, they look like they're doing quite will in their business suits, pretending that everything is okay.
It’s heartbreaking seeing what is happening to the people of China with the lockdowns and economic slowdown. My heart goes out to the moms and dads just trying to get enough food and basic necessities for their families.
The Chinese people have just been repeatedly let down by their government. As a peaceful democracy, they already would be a global super power, but China is incredibly handicapped by the many, many problems of having a dictatorship.
This is the top 10 channel out here in TH-cam whose content has not deteriorated even after so many years. Thank you for your great content. I was there when this channel has not crossed 1 mil milestone. Keep up the goodness and thank you from everyone.
yes he is one at the top but i bet you don't know those underrated channels who really deserve the praise especially the one's who made the real headline news featured in this video. This channel only summarize and combine contents from various sources. He's good in re-telling stories that are not covered in mainstream news media
I have an old friend in China. He has written the lock downs have been extreme. His Chinese wife needed to go to the hospital, and while it was difficult to get permission, it was possible. The train was completely empty except for themselves. Interesting idea the lock downs may be to stop civil demonstrations. A lot of people have lost their savings with bank failures. Interesting
There's even darker theories on how the lock downs are being implemented. They're pretty much used as a weapon against the population groups the party considers problematic; Fill in the blanks... For the sake of the people there, i truly hope this won't last long. I can't imagine the suffering of some...
It's hard to find out things about protest in China while being in China but it depends on the city. I was on a island city and I experienced 2 lock downs on varying degrees and they were not bad actually. .my friend experienced a total lockdown in guaiyang China just last mouth and that was disgusting. I was scared for her. Like no one could leave and people were sharing videos of people killing themselves. That was a poor and crowded city actually so there was no saving that. . some woman got famous in that city because she was outside crying in the middle of the street because she had nothing.. she was apparently taken home but unfortunately there us still a loud online population of men who will shame u and talk bad for things like that pleading with local government to arrest her for making China and the local city look bad ,they said she was creating division. Many older Chinese are very blindly patriotic and literally everyone uses tictok . People will drag your name easy if u don't follow the pac..during covid I've seen people really get ugly and I was lucky to always be I'm a city that wasn't too badly changed.
@@levelazn china's job in general was pretty good actually, I lived in China 3 and a half years. There are good examples and some pretty bad ones. Shanghai was in pretty bad shape a few mouths ago. Xian was in heavy lockdown at the start of the year but I didn't hear any bad there. Guiyang jus last month and shezhen . I'd say in my experience, getting totally locked In your place was probably a minority of the time but in some of these city where people depend on buying and working on a day to day bases ,u are literally killing people by week 4 . Actually I've been rich and poor in China and made many friends in my age group of similar statues .there was a time when me and a few friends were sharing everything trying to split 100 RMB which is less than 20 USD . I saw people not make it, in many ways the laws were not fair and not rational or realistic . Like foreigner having to quarantine at their own expense or making a full community test 2 times a day for 15 Days while under lockdown. That's doesn't even make sense to do. Because in China most people don't understand how covid spread . I literally Had an argument with some people in my community that thought lockdowns and isolation was better to stop covid then practicing good hygiene. Older people in China always talk about responsibility but rarely do. Its like talking to a brick wall 😂
I'm an American. My wife and I do not trust banks. Our savings are invested in gold coins, with a reserve of cash, all in a special hiding place. Do no trust banks, amigo.
Absolutely fantastic episode. You managed to encapsulate and explain all the issues mentioned in the past few years but make it understandable. Top job 👍
I'm actually shocked that there isn't an army of Chinese propagandists trying to mitigate & minimize everything said in this video. Perhaps they haven't found it yet. The scary part is they speak perfect English and pretend to be Americans. Sometimes they're hard to spot but dead giveaways include Whataboutisms and the Tu Quoque fallacy.
The biggest issue is that the people running the systems that are creating these debacles in the financial market are not being jailed they are allowed to get away with crimes that they committed and they get to keep the money that they embezzled from everyone. When people who are low income need access to funding we can’t get it so we are unable to get out of poverty because of those kinds of things.
White collar crime. The 2008 financial crisis was basically the culmination of shenanigans done by white collar professionals of the financial services sector. Now China too has such problem, corporate executives basically run schemes to fleece investors' and clients' money before running away and hide their ill-gotten wealth in some overseas tax havens.
Pre Sales concept is very prevalent in India as well. And unsurprisingly also results in delayed delivery of houses or sometimes no delivery at all with buyers stuck paying Home EMIs, waiting for Legal solution.
India is no different that China when it comes to hegemony being wielded around like an absolute power. In China, it's the CCP doing it. In India, it's the corrupt municipal level administrators and middle-men doing it. At the end, it's the people who get fooled. But there's one major difference between India and China in this regard. In India, the people have the option to demand better and more regulated services from the government and the private sector. But we chose not to. We chose to take the easy route of bribing those who ask for it just to reach our goal.
RERA rules dont allow developers to invest money earned through pre sales to be used in another project and delayed possession can result in heavy penalties for developer.
@@shubhamyeole5672 But do they follow it. We've rules alright. But who's following it. And who's ensuring that people are following it. That's the issue here in India. When the majority follow the rules in place, India will be soon become a trustworthy, developed country.
Here in Brazil is just like that, all the big property developers do pre-sales. Between 2007 and 2011, 100% of the sales were from pre-sales, they sold all the apartments in a 7 days of pre-sale, at the end of the 3 years to build the apartments, all the apartments were sold, but afther 2011 pre-sales slowed down. I work in a property developer between 2015 to 2019, they were selling 40% to 50% of the apartments in 6 months of pre-sale before the construction starts, and at the end of the 3 years construction, round 70% were sold, and then it was 2 more yaers the sell the rest of the apartments, so it was round 5 years and 6 months to sell all the apartments. Here lots of property developers did the some thing as in China, they used the pre-sale money from a project to finance another project, but then the goverment made a law to protect the buyers, the goverment create the "special purpose company". So now, a property developer needs to create a "special purpose company" for every project, every "special purpose company" has its own bank account, so now, the money that goes in a "special purpose company" bank account can't go out to another "special purpose company" bank account. And here in Brazil, almost all the property developer always get a bank to finance their project, but the bank normaly at most finance 80% of the project cost, so the property developers need 20% to 30% of the project cost to start the construction. Normaly there is 6 months of pre-sale before the construction starts, for them to try get the 20% to 30% of the project cost, so the more money they can get out of the pre-sale, less of their own money needs to go in the project. After they get the bank to finance the project, during construction, every money that comes in, because of the pre-sale, goes to the bank that is financing the project.
Dirty dogs those developers. It’s amazing how many developers feel entitlement for other’s money to do their project and how much it’s accepted as “just the way it is” based on public fear or scarcity. It’s not just how it is so much as how we are willing to accept this behaviour when we don’t want to be left out.
I would be worried about getting what I have paid for! Is there any way to complain about shoddy workmanship! And what is the history of the resolution of customer complaints?
This channel has been one of my favorite since the Galaxy Note days. The content in this channel is well researched and presented. Kudos to you Dagogo!! Pl keep making more videos.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@@instinctively_awesome8283 Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
@@Patriciacraig599 The one effective technique I'm confident nobody admits to using, is staying in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $700k since 2017. Just bought my 3rd property for rental. Credit to Susan Agnes Hancock.. my Investment-Adviser
@@instinctively_awesome8283 Susan really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
@@instinctively_awesome8283 If you do that, you are ignoring the lessons learned of the past. That is regression, but rebranded as progress. It is best to look at what others are doing and learn from the mistakes THEY made or you are just spinning your wheels doing redundant things. Creating all your own processes without acknowledging what others have done is foolish at best, self destructive for the wider world as well as your own personal well being at worst.
@@komit66FYI these "free high quality knowledge channel" are all backed by NGOs with hidden origin. If someone needs to push an agenda, they only need to send an email and paycheck.
The whole world had erred in to espouse globalization. Especially, had made China the factory of the world and brought about its rise. Thus, induced chaotic economics of this present day.
Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to maneuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?
I remember when Polymatter explained the Chinese housing market earlier this year. He explained that Chinese were not getting bad loans, so they might not see a replica of 2008 in the US. But I just thought, good loans or bad loans, there’s no way this investment strategy can keep up if no one will ever live in these second homes.
Their housing market is not sustainable, and most educated Chinese people know it. In conversation with my relatives in China, they even mentioned the future problem of housing interaction with inheritance -- since most Chinese are one-child, when baby boomers pass away, all the "millennials" (post-80s) will be left with 2-3 apartments, and the extra apartments unless near vacation destinations will be worthless. This is why most families are willing to sell houses in exchange for children's education. IMO, the root problems with housing are 1) Chinese stock market is messed up, full of pump-and-dumps and bad for long-term investment, so there are few other good investment opportunities for the people; 2) municipal financing, where it is easier for municipalities to generate revenue by selling real estate development rights than to raise taxes or to actually develop the local economy. CCP have been trying to fix the stock market for a number of years now with varying degree of success, even their tech crackdown in the past year had a component trying to fix the stock market (i.e. domestic IPO requirement). It remains to be seen whether it will be fixed.
Honestly the biggest hurting points for this is globalization and pure greed. I don't think china is alone when it comes to relying on cheap imports and a specific industry to fuel their growth. Never understood how people thought free trade would be abused and relied on by governments who think it would continue on forever. The path for the entire world should have been steady solid growth while making sure you can really be self sustainable without the reliance on the world for trade.
Well China has been self sufficient for hundreds of years and look what happened to us in the 19th century lol. Globalization has its issues for sure, but it’s definitely better than each country just be on its own.
Greed is not bad itself. I think it was hubris. All these companies overlooking the signs of bad management because they were seeing high yield from Chinese investments. Ofcs they would know this will eventually happen if they looked seriously into it
But global trade creates wealth. Since the beginning of history the source of the wealth was trade. Of course it's equally true that every time trade got disrupted, the wealth evaporated quickly, and governments collapsed. A secondary benefit of trade is peace. Trading partners try to avoid wars, because of the previous point. War disrupts trade, and trade is the source of wealth. Whatever they hope to gain from a war, it likely not worth the cost. The current Russian invasion is a great example, the economic cost for all parties is enormous. The solution for this after the world wars was to set up global institutions that enable and protect free trade. And it worked for a long time, up until recently. Why it failed is a complex issue, way to much for a TH-cam comment.
UK would have to have many updates, if you want to keep up. Add to that the shortest serving Prime minster in history or even the highest number of Prime minsters in 4 years? Complete mess!
Would love one documentary done on Canada's economy: insane real estate bubble and lackadaisical leadership highly influenced/controlled by oligopoly (i.e. telecom) companies.
Prices are insane but only affect small number of recent buyers who bought at the peak. That could lead to a slight recession but employment is very strong (due to mass quitting and retiring early) and wages are going up so no big deal. China problem is 10 times bigger - unemployment shot up, salary cut, poor relationship with the West causing investors to flee, ridiculous policy, forced donations or huge fines to businesses shake confidence of doing business.
@@gerhardschulzy While I would like that since I'm Canadian, I also know that nothing can put a person to sleep as fast as talking about Canadian socioeconomic politics.
@@MechaSlinky I'd be interested actually. Here in the U.S. we're actually more likely to hear news about China or Mexico or Israel than about Canada, so i feel VERY out of the loop about what's going on up there lol.
I agree that would be good. China helping inflate the prices of homes in Canada due to all the property buying and lackadaisical rules regarding purchasing. It's a shame even foreigners own more property than those who are actually born in Canada and can't even afford anything. This housing market in Canada has been overinflated since 2008 and hasn't changed since.
@@johdo9953 Completely incorrect summation of the Canadian economy, both on your inaccurate assertions in the real estate market and you neglected to mention inflation impacting far more than housing. I wonder if you are somehow sponsored by the Canadian Prime Minister as your are spewing the same nonsensical rhetoric that his government does.
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Love this channel ! The videos are so well produced. Love the music choice and specially the content that always seems to cover multiple points of view. You must spend so much time in research. Keep up the great work Dagogo!
Bai lan is similar to the term “Soft quitting” popularized on social media in the west. It’s not actually quitting your job but rather putting in the bare minimum work to not get fired but never going above and beyond.
I went to China before the pandemic because I wanted to go after I saw vids of the replica cities they have such as a faux-London and faux-Paris and it was so surreal. During our trip met a nice couple from Iran who immediately became friends with on our travels. They were more forward than us and said this seemed unsustainable for China doing stuff like making cities where no one lives in them.
@@oldmandoinghighkicksonlyin1368 you tend to watch your tongue when you're in a foreign nation that isn't big on free speech. Last place I wanted to end up was in a jail deep in mainland china or being harassed by the police. the fact that he brought it up in casual conversation, you immediately get paranoid that someone is listening. Say what you want about the US, but when you leave your safety net, you're playing by someone else's rules.
there are different ways to develop a city. one which is a long term and also will build a deep community culture and relationship is by doing the old school way which is give the land to those poor people who are being arrested for illegal settlers in urban city. these poor people will start to build family on that new land, start to grow and build community of their own. it will atleast takes 20 to 30yrs before it become a fully fledge city. but China did the opposite. they build the houses and sold it to the public and hope that they will build a family there and create a community. problem is those people where they sold it are not "poor" family (well they can afford to buy these houses.) these people will not transfer in there coz they have current jobs in their current location. in short these people will not be transferring until they fuck up in their life and decided to settle else where. on the other hand, these places haven for introvert who's jobs is also home base and only need desktop computers such as gamers and Vtubers/tiktoker. also a lot of these western styled city in china is being used by photographer for wedding prenup and school field trips, it is like a disneyland for western architecture theme park.
What's happening in China can't be any different from anywhere in the world right now with selfish interests ruining us all. The great fall has already occurred, and inflation is a disaster. The FED will need to use every effort in order to stop the market. Markets are being destroyed, which is a regrettable situation. You must rely heavily on diversification if you wish to remain green. Currently 17% up on my $840K portfolio while being cautious. Even so, it's still better than keeping it in a checking or savings account that pays 0-1 percent interest.
It is more difficult to create a solid investment portfolio, thus I advise hiring an investment advisor. You can then receive plans created to address your particular long- and short-term goals and financial aspirations.
One of the main reasons I have an investment advisor oversee my daily investment decisions is because their entire skill set is built around going long and short at the same time, using both profit-oriented strategies and laying off risk as a hedge against the unavoidable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Since hiring an advisor for about two years, there has been a return on investment of more than $550,000.
This is easily the most boneheaded pollyanna comment I've read on an economics vid for some time. No other country now or in history has done and is doing what China is. And as far as "gree" is concerned, watch your positions closely. "Green" is just as much a farce as China's GDP.
@@tampabayrodeo2474 this entire thread is a scam. It's a well written cliche at this point. "I make impossible amounts of money with zero risk, you should find a way to do that through a financial adviser, too. Why earn 3% on your money when you can earn 25,000% like me, not have to do anything and never risk anything?" "Gee whiz mister, i need to make 25k%!! Who do YOU use?? Everyone i find is either a criminal or won't promise to 25x my investment with no risk!" "Ah, you are wise to ask me that, random yourube account created the same month my totally legitimate account was. Look up this name: >INSERT NAME OF SCAMMER WHO TOTALLY WON'T STEAL ALL YOUR MONEY
I will never understand the stupidity of pre-purchasing, you are gambling your goods on unknown future circumstances in exchange of ~10% discount, in our times that's just stupid...
I find it fascinating how, within a few short years of (I'm convinced) hardcore economic studying, you managed to branch your videos the from tech innovation spectrum to these beautifully explained economic insights type of formatted videos... Dagogo, you are truly irreplaceable! Hope you are doing well and please please please keep it up!
@@pyrus2814 True... sadly he hasn't added anything, not even trying to bring mixed views from multiple sources so we can have a more rounded view of the topic.
I think we will see / are seeing “bai lan” in the west. With prices going up and real estate becoming ever more unattainable. Many young people are just thinking why bother. In the Uk many people (myself included) saw house prices increase faster than they could save, and hence found it impossible to buy.
@@wisdoom9153 largely cultural but that idea is shifting. My grandparents generation kicked their kids to the kerb once they hit 18. My parents generation will let you stay until you save up enough or become more financially independent. I personally, would never have a child without accepting that I may have to financially support them for their entire life.
Can I just say thank you for an actually well thought through and rational video on the situation of China's economy, like seriously. Its refreshing to see more big influential channels being smart and thoughtful when talking about economic issues and problems that affect millions, so from the bottom of my heart thank you. ❤
Every year the Western media say that the Chinese economy is about to collapse, and it has been said for decades. But why every year it is said that China's economy is a serious threat to the West? How does a China that crumbles every year threaten other countries? Which of the China Collapse Theory and China Threat Theory is true🤔🤔~ Can someone answer~
What this video doesn't mention is it's dire demographics, they've over counted their population by 100 million, and if nothing goes wrong and the world carries on being globalised China's population will go down to 600 million just by ageing alone, that's without upheaval and famine, and they will have both to the extreme, expect China's population to go down to 300 million by 2050
I don’t think he is showing true humanity at the end. he seems to be equating Brexit, which was approved by the people of Great Britain, with the dictatorial policies of Russia. Look dude, Tagogo is not golden. He is very good, I love his documentaries. But he is biased also, biased towards big government and socialist policies. It all looks good here and now with everybody getting Covid shots for free, and everything else for free, tell me now, who pays for it in the end? The massive debts are piling up. Let’s see if Tagogo does a documentary on this, ever. … because every nation with massive socialist policies also has massive debts that they can never pay, never ever! This is the biggest problem with Socialism, someone in the future pays for fake prosperity in the present. Want to bet your Australian hero never takes this on? Supposedly he does documentaries on finance. Never heard a peep from him about national debts….. not even a little mouse squeak. I’m sick of socialist pigs spending other People’s money, or money that has not even been earned yet, and Posturing as the good and great saviors of the world.
Excellent article,, very nicely presented; segmented into chapters for each issue, issues described thoroughly and in a way that helped me understand and better feel the impact of the issue on the Chinese economy and its people. Thank you, I will follow your articles regularly from now on.
Nice to see a big creator cover what is currently going on in China with no clickbait. The truth is we don't know what is the future of China. From our pov, here in the west what is happening rn there, should result in an outright chaos... But that is necessary true when it comes to China.
Don't let this video die please! Since it was published, three major western banks got rekt, Xi was re-elected, united Iran and the Saudis, there is a huge line to enter BRICS (which now is more powerful than G7 economies) and China said US to go bananas regarding providing weapons to Russia. Lets keep counting...
There's certain people on TH-cam that were more than certain to be born to make certain videos and you are definitely one of them! I enjoy every video in the content in them that you make
Pre-sale market is their in India as well but has many guardrails with it. For example: The mortgage gets released from bank to the developers in stages of the construction and also the builders needs to show they have the liquidity to back the project.
I think nowadays most people consider it as an investment as well but it's a risky one. It was astonishing to me that 70% of the investment was in real state, that's bonkers.
New subscriber here.. i mean I'm sorry for being late to the party but I'm glad to have stumbled on this channel. Now I've been binged watching for hours and I can't seem to stop. I love the calm narration and the well researched topics. Well, I have always loved the Aussie accent anyway. Keep em videos coming. Now back to China, yeah, my first thought went to the people and how they must be doing right now. I hope the Chinese govt will think of its people instead of saving face. Since cat's out of the bag anyway, please do something. NOW! 🙏
There's so many similarities and red flags when compared to the 2008 financial crisis which too started with just unlimited and unreasonable real estate building, which in the end fell apart. You can't just expect there to be unlimited demand for new apartments. In my opinion it's just the corporate mindset and endless hunt for stonks graph. Of course, now we have the benefit of hindsight but I think that the red flags, especially taking the 2008 crisis into consideration were there all along.
I don't see any sign whatsoever that the West is enjoying the benefit of hindsight. We have a massive property and asset bubble predicated on central banks handing out cash at interest rates vastly below the rate of inflation. That is to say paying people to borrow money. The rationale for this was to encourage investment following the crash to offset a crisis in liquidity. It has since become the norm to subsidize corporations with free money provided by taxpayers. What in fact happened was a vast asset bubble and the fruits of state generosity being salted away in offshore bank accounts. Worse still a large chunk of the money which is underwritten and provided by taxpayers has been used to inflate the housing market and extort the very people whose credit card provided the cash in the first place. The West's economic and political problems are every bit as enormous as the Chinese ones.
i disagree, the shake up in china is intentional policy of the government where the government intentionally halted borrowing to force those companies that are shaky to fail. in 2008, the US system collapse on it own because of a lack of regulation, rather than an increase in regulation which we see in china. china will naturally have property issue which was predicted 20 years ago because that grow was driven by cheap land and the land will naturally become more expensive in time and lose their benefit, however this is a natural fall then a bubble.
If you think that's bad, you should see what America did and how it printed more money in the past 3 years than the past 40. It's going to get really bad in America, considering that Russia just ripped its dollar hegemony apart.
@@alexandrep4913 Except Russia did no such thing. The dollar has increased in value over the period of the war in Ukraine, indicating that the dollar is still the worlds reserve currency, and the only reason why the ruble isn't toilet paper is because Putin introduced currency controls.
According to top Western analysts China is/was collapsing since 1949. China collapsed from a 3rd world poverty stricken banana state after decades of war, exploitation and infighting to the number one economy in the world in PPP terms in 2014. China is still collapsing. Perhaps by 2035 China will totally collapse into twice the nominal GDP of the US (3 times in PPP terms.) Meanwhile China is helping all the African countries to build up their infrastructure to boost their economy. The west calls it debt traps. So did the west help Africa during centuries of occupation?
I love the final note you added at the end. It's always easy for people to forget there's a person on the other end of these types of things. Specially when countries demonize them.
This reminds me of the first Ghostbusters movie: "You're never gonna regret this, Ray!" "My parents left me that house...I was born there!" "Everyone has three (3) mortgages nowadays." "Ray, for your information, the Interest rate alone for the first five (5) years comes to $95,000..."
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I’m seriously thinking about deleting TH-cam due to the lack of quality content or rather the overwhelming amount of terrible content that makes it difficult to find the good stuff. Coldfusion is one of the exceptions. Very much appreciate the calm and relaxed delivery of what looks like well researched content.
I feel the same, but I think the better approach is to keep it, but ignore it mostly, except for the content that truly deserves our attention. Remember the internet just provides more of what we seem to already consume. So if we all ignore the rubbish it will hopefully fade away. Be discerning of who gets your attention
Western countries atop relying on China, ! hopefully their economy tanks so the CCP goes down and gets replaced with a democracy,, find other trading partners.
Paying a mortgage for the PROMISE of a property being built one day is heartbreaking, the amount of trust these people must have had in the developers to even consider that sort of situation is just not possible for me to imagine. The 'little guy' is the one that has been most impacted by this collapse
I mean if you think about it, it as risky as any investment. The problem I see with it, is that there is no incentive to build well, if it is already sold.
@@tilmanrotationalinvariant2257 Umm, no, it's VERY different from many investments. Most investments are actually WORTH something concrete, like buying a stock in a company usually means that company has something that's actually worth something were they to fold, like buildings, or inventory of product, etc. Yes, we're not talking 1:1, but the risk isn't 100% loss, usually. With these mortgages there was ZERO actual value. Some of the buildings were started, but a shell of a building sitting around for years is worth less than zero since you can't complete it if it's degraded past a certain point, and will actually cost money to tear down.
Whats interesting to me is that the Government there seemed in wonder why the people would be in an uproar and then stop.making payments. Really? When i see no forward progress being made follow through with Promises made??? Amd they actually believe that they should keep making payments. And then to wonder why there are protests Is the Government om freaking drugs? Their own power struggle of their lack of mitigating these issues before they became issues. Im seriously FLUMMOXED
Thank you for clarifying what is behind China's economic downturn. The US needs to pay close attention. I think countries are beginning to modify their dependence on other major world leader countries for supplies and start depending more on themselves. This is largely due to a combination of Covid 19, Russia's attack on Ukraine, the instability of Iran and Saudi Arabia all combined. I think that part of the US and Europe are beginning to wake up and realizes how we need ti become more self sufficient especially in those areas that our economy and people's survival mostly depend. I think global exchanges will continue but will consist of those items that are not necessary for survival.
More like Europe needs to break away from the US before they can grow and become a major power again. Else they will only dwindle following behind the US trying to sanction China and Russia.
Seems to me that the problem consistently, ultimately, is the interconnected systems and networks have massive feedback loops just waiting to kick off everywhere. And they all start small but cycle up to massive issues that kick off other feedback loops, etc. If there are no air gaps between systems and flows or at least firewalls, it doesn't matter where you move your processes, locations, methods, etc to - remodeling the global chain to local just changes the meaning of "global" when considering your dependency chain, ie now the triggering value and location are in another US state, but the feedback loop is still there regardless of you need steel from Pennsylvania or China. You still need it and if those processes need your output to function it's still the same problem. It's like when I set my fantasy football lineup access I've got a quarterback and receiver from the same team starting; every pass that quarterback makes to that receiver scores me points on both sides of the play so I'm making a killing. But, every time that quarterback targets someone else, I'm back less than average performance than if I just put in a quarterback and receiver that are guaranteed to get action in their respective games and have no link to each other's performance (my receiver drops the ball and I get no points for him or for my quarterback when they're on the same team - their performance is linked and so is their failure.). But, here's the key - I only need to get enough points to beat the lineup I'm up against that week. Those times where the linked performance shines (20% of the time?) only makes my win margin larger. The outcome is the same if I win by 1 or 100 points; I get 1 win for that matchup against the other lineup for the week. That extra risk to win by more screws me more often than I break even at best. If you can isolate your processes, even if it's at the cost of better margins, the move for robustness is less sexy, but probably more viable across time and it doesn't matter how long you win by more if eventually the trigger to blow up the entire thing is ever present. After enough rolls of the dice you'll hit snake eyes so it's best to not ignore that fact. Bottom line, feedback loops cascade failure until there's a firewall or airgap.
I remember a Korean colleague of mine telling me a story about an emperor in China centuries ago asking his advisors what he should do to improve the prosperity of his people. The advice was ‘do nothing’ and by leaving the Chinese people to get on with their lives their ingenuity and innovation made the country prosperous. The problems that beset China are as a result of those in power meddling in matters that they do not fully understand with the consequence that they now risk poverty.
This must've been older Taoist or Confusican story. Unfortunately for China especially the CCP, they do not connect with their ancestors wisdom anymore.
@@gamerkev30 but china has been under "shaky ground" for well over 30 years, with ever pundit predicting the collapse of china.... year on year out mate, broken clock is right twice a day, this is just pure propaganda
Civilians are not "innocent". They created and support the CCP! They did this the indirect action or inaction. The civilians deserve everything that happens to the CCP. I'm sick of this "Oh, poor, poor, little Chinese persons".
Thanks for the note in the end. The economic slowdown and all those negative events in China do have very real consequences for the people. The suffering is not „nice“.
That's Communism, the ultimate monopoly doesn't give a crap about you and the individual is sacrificed on the alter of "the greater good" as determined by the good of those in power. Your body--NOT yours, you own nothing and will be happy.
Yeah but those same people enthusiastically cheer on the government's oppression of the people in Tibet, Xinjiang and would happily support an invasion of a peaceful Taiwan, so I don't have much sympathy for them.
Great Video. I remember that a economist in china predicted something like this back in the 90's for a BBC news interview, He was ridiculed back home in china since they were just starting off growing but it seems that he was right. I have a feeling that like some of these comments the Chinese may take it out on Taiwan to make people forget the economic issue, the fact that the US and Europe noticed it quickly means the Chinese will use some other method to get the people on their side.
Thanks to communism, they don't actually own the property anyway, it's technically a lease of the building. That's why they force demolition of alot of properties, to build new buildings the "home owners" have no entitlement to, even if they "owned" the previous building, the land dosn't belong to them.
Every year the Western media say that the Chinese economy is about to collapse, and it has been said for decades. But why every year it is said that China's economy is a serious threat to the West? How does a China that crumbles every year threaten other countries? Which of the China Collapse Theory and China Threat Theory is true🤔🤔~ Can someone answer~
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@@Daniel-xaogjeyh yes, by doing the research and presenting his finding (in an intelligent way). Think of it like music, or actually just anything, it's based on what happens before. Like, where did you copy your language from? We are all copies, copies that come from a remix
EVERYONE look at the profiles of these fake paid commenters like 'BITTER' and 'Johnny Anda'. They are obvious shell accounts designed to boost this blatant propaganda and help shape the opinions of common sheeple who are completely devoid of #CriticalThinking
I was in China around 2010, on a river cruise, so we visited many small towns. Those empty apartment buildings are strange and weird things to behold. The Chinese Gov. built all these buildings to encourage people to stay where they were and not move to the cities. The problem is, there were no jobs outside of the big cities, so people moved anyway without Gov. permission. Without that, they couldn't hold a legal job or get any housing, nor could there children go to school. I saw entire mini-cities built with left-over construction materials, like sheet-rock, under every highway overpass in the cities. No electricity or plumbing, of course. As a social worker for part of my life in the inner-city projects and in rural America, I've seen poverty but never, ever like the poverty I saw in China. I was appalled. There is, also, no healthcare available to the poor of China. The idea of health insurance was just beginning in China back then but I have no idea how it has evolved, so the cost of healthcare was an issue for those with jobs and money, too. China had a huge problem with the elderly, as well. Due to their one-child policy, there were not enough adult children to care for their elderly parents and grandparents. Two married adults with their one child could not possibly care for four parents, eight grandparents and more if great-grandparents were living etc. It appears the issue of who would care for their elderly did not occur to the Party Planners when they instituted the one child policy. Also, interesting is that these apartment buildings come with no plumbing or electricity in the units. The buyers have to install all that, along with lighting, sinks, stoves, toilets etc., themselves, so getting a mortgage on an apartment, at least, at the time we were there, was only the beginning of the expenses for the buyer. As I said, seeing these many empty buildings was a strange experience, almost, dystopian.
No doubt 1 child policy was a mistake, but you either miscalculated or exaggerated there. 1CP only started in 1980 so no such thing an adult having to support "8 grandparents and more if great-grandparents". 1CP did not applied to the grandparents or great-grandparents generations. They don't have sibling, but would have cousins to share the grandparents responsibility.
@@jasons4045You may be blind and don't accept it, but as someone who's traveled to 40 countries, I'm saying this person is teaching, and I've seen these things in China.
Even though Kolkata, India was proposed to be part of OBOR, India refused to be part of this project still I see same map in almost all the videos on this subject.
MASSIVE respect for that closing remark on distinguishing between government and people. Too many treat them as one and the same, appreciate you trying to combat that.
The problem is that the government like that wouldnt exist without the peoples will as stated by Rousseau. The people have sovereignity of change of establiblishing a government and still they don't make change for it.
@@inigobantok1579 They are not in a situation like the west, they are another soviet. the people decide nothing. going against the govt costs your life and your familes.
I agree with the younger generation of China, it's the same in the western world. I've been looking to do the bare minimum to get by for the past 2 years. There is nowhere to park money to be safe anymore, investing in fiat has inflation risk as well as the risk of a currency default plus you pay tax to earn it. I bought everything I wanted and needed when I was younger so I've checked out when it comes to trying to get ahead.
There is always something to invest in, when the current big thing/opportunity closes/crashes another one opens up. Its just a matter off getting off your butt and finding it. Problem is youth today listen too much to all the doom sayers, "the end of the world is nigh" - do you not think things were 100x worse 100 years ago in the depression? 1000x worse 1000 years ago during dark age wars?... admittedly today even the tiniest transgression is exacerbated by the internet, but thats easy to turn off, youth have evolved from the world is your oyster to pathetic and weak couch potatoes because of it. Its just a matter of deciding that you want better than this, removing yourself from distractions, putting your head down and making it happen even through all the shit flying your way. Thats how life works... Fortes Fortuna Juvat
Fantastic video! It’s the first time to hear someone describes China’s real estate industry as a Ponzi scheme. Normally I hear people said that industry is “over leveraged” in China, but I think you do have a point. It’s just crazy to learn that Chinese home buyers are paying their mortgages months or even years before their homes are delivered to them. What’s government will allow that to happen? But it is also shocking to me that many Chinese friends that I know seem to have full confidence and trust on their government. It is so sad to see innocent people suffer, and it seems always innocent people will suffer, that makes me feel so powerless, and no wonder the youth now choose to lay flat and let it rot.
Actually, this type of mortgaging is not only found in mainland China. The same system of pre-sales and mortgaging your house before it's built is also the most common form of real-estate transaction in Taiwan as well!
What do you mean? You can buy a house before construction and start paying from the moment you signed the docs. At least in Ukraine, Israel and Germany
It is simple. People kiss china’s butt because they were “powerful” but now it’s rep has gone to 💩, news outlet will now won’t hesitant to uncover its real identity
7:45 shouldn't the cash to short term borrowings be *greater* than 1 indicating that the company has enough cash to pay back any loans or short term borrowings they have ?
Great analysis. One thing you didn't mention is land ownership. The real estate market in China is different from the West, for no one OWNS the land privately. It's 70-year lease. The Chinese government owns the land. "The land and water (territory) are the people, defend territory is to defend people. We defend our people and their hearts". Xi's recent speech. Currency decouple.
Because everyone is running high on the "they can't possibly take the land back after we paid that much money to them" concept, they don't have a choice,they need to believe that,or else how could you justify purchasing a house to meet social standards,if your mindset is of the government will take away the home you put decades worth of money into,dismantle it,and put a highway on it,hell you would rather bai lan or straight up kill yourself dreading it will happen someday
@@chrismckellar9350 I agree. And in some instances Western countries bail out the companies too, like GM or the banks for example. The same game. Western countries print fiat currency, a strategy originated in China. Same tired game.
A simply brilliant production. One thing more about China's future economy is that it also depends on external forces and not just how it deals with it's internal problems.
This is a very realistic documentary. I whole heartedly appreciate the author for his efforts. There is a lesson for all the upcoming economies what to avoid.
The silver lining to this dreadful news is the Chinese people live lives far superior to Chinese of 50 years ago. As long as you avoid politics, I gather the youth have enormously more freedom through technology than their ancestors.
I'm from Singapore and paying for a unit under construction is commonplace here. For government public housing units (HDB BTO "Built-to-Order" flats), you pay downpayment while it's under construction (a few years) then start paying for your mortgage once it's completed. You will certainly receive your flat. For new private condominiums and landed housing projects, you pay a progressively higher monthly installment ("progressive payments") to the developer at various stages of construction until the project is completed and carry on with your mortgage. So far, most if not all projects are completed and handed over to the owners. The property market here is tightly regulated here. At any signs of a bubble forming, the government will step in and implement a slew of cooling measures quickly to ensure things do not get out of hand.
The thing is that the Singapore government despite its flaws at the end of the day is not corrupt and ratchet like the PRC government. And I say this as a low level expat working in China but got a Master's degree at the NTU.
![How to Lie Your Way to $34 Billion [Nikola Motors Fraud]](http://i.ytimg.com/vi/88fWUZhYb04/mqdefault.jpg)
I love this channel so much. It’s like; “yeah the world is falling apart around you, but let me describe it in my calming voice with some chill beats in the background and totally chill you out.”
This World Was Always Falling Apart.
lmao it's not falling apart, we've bounced back from far worse
LOL.. but I got to spend $500 more on gasoline this year!! ... horrible, this must be the end of the World! Record low Unemployment is just fake news!! /s
China's economic death is a blessing. Nothing is falling apart, communism always fails and will never work.
Rather have that than panic.
I'm glad you didn't go with 99% of TH-camr's "China's economy will collapse in x days" attention grabbing headlines. So many well known ones did this, the deadline past and the country is still there. China is definitely in a bad place, like most of the world, but the collapsing in x days headlines are just clickbait
For what it’s worth I’ve seen these thumbnails as well
@@JizzSock_ UK & Germany
@@JizzSock_ Graham Stephan, Andrei Jikh, New Money, Proactive Thinker. Bear in mind the first and third ones have since changed their titles, but the video content still implies it will collapse in a month o so (they said, last month 😅). They can say this stuff with zero loss of credibility when it doesn't actually happen.
yea it's silly it's just the boom bust cycle all capitalist economies find themselves in
Yes Hate China in more subtle way. It is what youtube promote nowadays.. As long as you hate China you will be put in recommended
Pre-sales are a wild concept and I feel horrible for the people who bought into it trusting that their home would be built only to be shafted with nothing.
Theoretically, it's still got more value than NFTs and Cryptocurrency which is valueless if you think about it.
True, and that's why people shouldn't buy games before they were published.
@Vic S crypto 😂🤣 I'll take gold they can have the crypto
I would call it Ponzi Scheme with Chinese Characteristics.
Very contextual and determined to what degree it is enforced. In singapore, citizens ordered apartments in a "built to order" program, where you literally buy a "conceptual apartment unit" which would only begin construction once all units are sold.
Schemes like these can work, but usually it's best if the government made it illegal for developers to wesel their way out of it
Everytime an organization, establishment and people in general gets obliterated, the troublemakers gets compensated with a freebie in rewards, offers to the tune of millions.
Well with the economy and stocks at where it is now, I'd be disappointed if people weren't making any error on their portfolio at this time, it was much easier to navigate during the bullrun, regardless I still see and read articles of people pulling over $225k by the weeks in trades, how come?
It all depends on how long you're willing to hold for and your strategies, stocks might likely tank further, but making serious gains in this downtrend shouldn't be a problem if you're a pro
@Randy Pats That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the invt-adviser you're using?
@Randy Pats Nice one, I typed her full name on my browser out of engrossment and thankfully, I came across her page, she looks impeccable.
the ones on the scheme all cover each other's asses , and we down here, pay for their negligence is criminality,
20:05 Not only true for China, also true for Western Countries: More and more young ppl rather work the bare minimum to afford a simple, yet fulfilling life style without children instead of working 40 hours/week just to not be able to afford a car, a house and to feed a family.
And why should they care for government or society if government or society does not care for them?
Let it rot.
That's where I'm at. Why would I torture myself my entire life for the hope that I might have nice things some day? I'd rather be happy my entire life than miserable for most of it so that MAYBE I can have a good life later. I'll do enough to be financially comfortable but that's it.
It is exactly what I think as a person in his late 20s.
I'm 22 and I'm at two ends of this extreme. Half of me wants to work hard entrepreneurally and be financial abundant. The other half wants to be frugal and work as little as possible.
Agreed. Wages haven't kept with up inflation and the wealth gap between the rich and poor becomes evert so apparent. Why work your life away for someone else to buy their 5th house or 10th car.
@@Samir12357 yep I'm in that exact position
Love the concluding remarks. We are always blinded by our hatred for some of these governments, forgetting about the very makeup of these nations, the people.
speak for yourself. The only govt worth hating is the one that caused 1 million lives to be lost in the middle east, now salivating over the prospect of another world war.
And the ordinary Chinese who lose all their money just like you or me, if we lost our money, wed be angry and want to get our money back, they are no different to anyone else, it’s the government that stinks not the people
@@snuggles03 Chinese gov : lead best 40 years of economic growth in history.. 90% plus of approval rating. Toby: China gov is bad for Chinese because Toby is smart. Toby knows everything. Toby thinks every gov stinks like Toby country gov,
@@falsch4761 huh?
@@snuggles03 spot on.
Dogogo Thank you for always producing great documentary
4:19 I was one of the architects who worked on the Evergrande artificial island theme park in this video. Evergrande was inspired by the palm islands in Dubai and created a cluster of islands in the shape of a flower. The petals of the flower formed the districts, some for hotels, some for museums, amusement parks etc. I was on the team that designed one of those “flower petals”into mock villages shown here. It’s filled with imitations of various architectural styles from around the world. It was such a ridiculous experience because we all knew this was a huge waste of time and tacky af, but at least they paid back then. Now seeing it like an abandoned ghost town is truly chilling
Didn't the palm islands fill with stagnant water and basically rot? What was Evergrande's plan for that...? Nothing?
I was one of the Engineers who worked on this island theme park as well.
My responsibility was to make sure there was enough water available. 😊
"It's never nice to see innocent people suffer". That last bit really touched my heart. Well said Dagogo 👍🏾
WOW SIR VERY DANGEROUS !!😠😠 BUT THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER DO SCAM AND WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗
The Chinese citizens are the richest people in the world, so who are suffering?
@@glenwjohnson809 They are....not
@@bhargavshatrughna489 who they?
@@glenwjohnson809 if you talking the coe of alibaba then yeah, but look at the middle class and below it is not pretty and those are the majority of the population
the worst part about this is how the public have to take the fall for this, and the leaders and upper classes who caused this, won't face anything
Idk there's a reason why rich Chinese move the money to America haha. It's hard for the rich to fall in America where everything is made to protect the elite in China u would have to in the party and High ranking to get that protection being rich is not enough to be untouchable .
In China the rich are the only people buying houses. I had a really quite coworker in China. Turns out he was rich and bought 2 u finished homes. I hope he gets them but in China it's like 2 different worlds. There's a world where u ate poor a d everything is cheat and in arms which and u don't have to ask or think about nothing outside the community then there is the super rich. In which u could never imagine. Chinse People in your generation will never own anything..I could literally pay every coworker a part of my salary and give them more than. WHT they are making and still live happy
China may or may not care much about the unhappy masses.
But they are certainly careful to keep their soldiers well-fed and their police well-paid.
Well if they used common sense they would never b in this position. Its simple as asking yourself a question, how can someone put a market value into a building/property that hasnt even been built yet ? Lol. It makes 0 sense to me why someone would give money before the property is there. Yes i get its to start paying it off early but it sounds so risky & you're guaranteed to get nothing in return until "the project is finished" yea screw that it sounds like a complete scam. In the west the only reason i would want to buy a house is to rent it & have a homeowner pay my mortgage. So this type of investment would b completely out of my category this is definitely a scam & people should've put it together by using common sense. Sucks but you can only blame the people just as much, its obviously a risky investment that should be considered, I guess these people are really brainwashed lol .
@@komlat253 the politically connected in China have far more protection than the rich in the US. You are right that being rich in China doesn’t mean as much - it’s all about party loyalty and connections. It just works different than in the west.
@@Homer-OJ-Simpson well I live there for years . When Chinese want to have there way ,they never talk at using money but using connections. In China u must be invited into the party in which the benefits are given and people are usually careful not to get on they bad side. Everyone is equal in China and then there are party members. There are both good and bad sides to this. People in China are always trying to network but they rarely reveal their own positions which is weird haaha. It was too much for me .just looking at someone is enough to make some ask for your wechat 😂. They have no chill and it's not they will ever talk to u unless they want something from u .
The amount of research and data collection goes into one of his video is astronomical. We are lucky to have him.
Just copy and paste from other videos.
@@dougpassat still takes a lot of time to do it
@@dougpassat my friend go and visit his channel, watch some videos and make your opinion.
Every year the Western media say that the Chinese economy is about to collapse, and it has been said for decades. But why every year it is said that China's economy is a serious threat to the West?
How does a China that crumbles every year threaten other countries? Which of the China Collapse Theory and China Threat Theory is true🤔🤔~
Can someone answer~
@@meetv7700 China's economy is not bad, China's inflation is very low 2.8 percent.
There is no real estate crisis in China.
Property development in China is NON STOP
The economic activities of all Chinese citizens are normal
This video is bulllllsh111tt
Put this channel on when I come home from work. Super relaxing and informative.
"The world is in shambles" - so relaxing :)
I feel really bad for the 20-30 year olds in China who are just trying to get off the ground and stumble into a housing issues, a stale job market, a stuttering economy and massive debt issues. It must be absolutely crushing, knowing you did everything right only to find yourself without any opportunities. I hope it gets better.
@Xanmal The global economy project is falling. Time to implement robots to replace the humans and call it game set and match.
@Xanmal At least one can make adjustments in the U.S. for a better chance. For instance, one could move to a different state in the U.S. where there are better opportunities, but the Chinese cannot move to a different province.
@Xanmal Yeah, these are big problems across the developed world in general
@@EmperorRyker Of course I am not living in china, therefore by nature I can not 100% accurately judge everything, but from all source I've seen, including people who do live there, it's fucked up.
Which doesn't mean it isn't fucked up in many of the "glorious" western states. The USA are drowning in problems, especially all of the citizens. And it only gets worse. Here in Germany where I am, guess what? Things are fucked up as well. We have some nice ~10% inflation, energy prices are over the roof, winter is comming, and it's gonna crush us.
The reality is, our world sucks for the most part. Just because it sucks in other places, doesn't mean it's better where you are. We all want better lives in some way or another. Acknowledging problems is the first step to solve them.
Reminds me of the same situation in Kenya. Youth unemployment is at an all time high and population growth is equally rising. A perfect recipe for chaos.
I met a Chinese engineer in a WeWork co-working space in San Jose, USA in 2019. His family owns 50 apartments and all are empty/locked. Said they are investment properties and also mentioned about need to own to get married. I knew back then something is NOT right.
They don't care about genuine love you know, their marriage is seen as transactional or to unite their wealth. Their culture is very different to the west.
I had a mate in Oz who boasted of owning 200 properties in China. Let's hope he was not too highly geared!
I know a chinese guy who works with me at McDonald and he told me that he owned 1000 units in china.
wouldn’t it make sense for those people to rent out said apartments and have income income for those apartments?
@@richbaker4544 I know beggar in California that own 10000 units in CHina
Being in the UK & watching the dire straits of my own country, as well as a human feeling for those innocent members of the public in places like China... I REALLY appreciate your sentiment at the end. 🙌
Same here! The workers get run over everywhere 😔
WOW SIR VERY DANGEROUS !!😠😠 BUT THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER DO SCAM AND WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗
The UK 🇬🇧, was rich when China 🇨🇳 was very poor, now the UK is angry that China got richer than it, even India that the UK colonized is richer than it. 😆😅🤣😂
@@indiasuperclean6969 No need to lie in CAPITALS... It doesn't make it more truthful
@@dkmphotography_co_uk its obviously a troll comment.
In a time of universal deceit - telling the truth is a revolutionary act.
George Orwell!!
They want to lock you up for it.
Paying a mortgage on a house that doesn't even exist yet is crazy...
Bruh crazy or insane, I see these exact people here in London living off mommy and daddy money from China hahaha
And that too living on 70 years lease
Well, I was proposed something similar but for buying a car.. Because of supply chain issue, I'm supposed to start paying for my new car now.
@@kyrilluk don't
Also this story sounds like the 2008 economic crash again but this time in China.
These aren't houses, only apartments. There's no land involved. And they're not buying them, only long-term leasing them for like 70 years. The land for the apartments is not owned by the developer, just leased for, again, like 70 years. The ghost towns hold the empty apartments that are next to the ones rioters have been rioting about.
- 3 red lines were supposed to be a yellow light "slow down" warning, but unexpectedly cut off developers when they needed it most.
- Projects in China aren't designed to create profit - they're designed to create employment. To get a loan in China, you don't show a business plan, you show an employment plan.
- BRI bubble is just as bad as the housing bubble, and those projects are largely uncompleted as well.
- Also unmentioned was Jack Ma's calls for political reform in China, and how their tech sector reacted to his punishment.
I agree with everything except the BRI comment. I do believe that those countries do indeed need all that infrastructure development
Their problems now are a consequence of issues that have been there since the beginning of Communism in China. While Deng Xiaoping opened up the country it was at the behest of the Central Committee that it did so. Even then, problems were already there, such as its reliance on the One Child Policy to stop its population growth, which coupled with lifestyle changes in China, has seen its fertility rate close to if not lower than most developed nations in the world. This brings me back to the Central Committee. They are infallible, as far as China is concerned. I mean, they are the regulator is they not. As far as construction is concerned, the writing was on the wall for over a decade before this, at least, yet China's government did nothing. Also, its place in the world has changed. Consider that in the decade circa the 1990s onwards, it was being powered forward by immense trade imbalances which favoured it. However, in the time since the Global Financial Crisis, its focus on high-value manufacturing to a lesser extent has seen its economy starting to stagnate for the first time in decades. That and coupled with the lack of political reform internally, has seen China amid financial scandals that its government has tried to distance itself from choosing, rather, to push the onus to lack of corporate discipline and corruption. If China wants to get serious about its current situation, it has to start looking from within and that the status quo, governmentally and regulatorily speaking, cannot exist anymore. My two cents.
@crassgop China is there to build. Market adjustment and planning is to be done by the home country. It's not China's problem. Sri Lanka is better off with a deep water port than without one, it just needs the right policies to attract business. The port is there, use it. You have to plan for 10+ years in the future
@@dxelson It's literally just a way relocate useless building projects that were previously domestic. The economy is propped up in part by the construction sector. China 'loans' another country by paying itself to build things, with expectation of 'repayment' from the recipient.
@@dxelson Sri Lankas chinese port is similar to white elephant projects like bridges to no where or airports in small towns. You can’t just build infrastructure when there is no business case. Sri Lanka economy is too small for such a big port. Sure a it is nice to have. If it were free. Instead, they got debt and a useless port.
I really appreciated your last thought on always bearing in mind that it's mostly innocent citizens who suffer economic hardship no matter where it may occur. Very informative and well researched video.
@Zaydan Naufal wat
@Zaydan Naufal And Communist China is engaged in Ne0-Colonialism under the guise of the Belt and Road to nowhere. When these countries can't pay the debt trap high interest and principle back (default) the CCP demands payment in the form of a Port or Airport or a Copper mine or Oil/Gas field! No loony lefty ever criticises the CCP for this, only the past actions of the West are bad apparently.
Well at least Chinese people didn't vote for their government. Brits can't complain.
@Zaydan Naufal some people just haters. No rhyme or reason. Just ppl who like to hate.
Well, it definitely isn't the Chinese Government doing the suffering. As you can see, they look like they're doing quite will in their business suits, pretending that everything is okay.
It’s heartbreaking seeing what is happening to the people of China with the lockdowns and economic slowdown. My heart goes out to the moms and dads just trying to get enough food and basic necessities for their families.
The Chinese people have just been repeatedly let down by their government. As a peaceful democracy, they already would be a global super power, but China is incredibly handicapped by the many, many problems of having a dictatorship.
The PLA needs to Free it's people Liberate them from CCP?
@@bumbum-k6x Yes. The Chinese government needs to crash
at least moms and dads can still be with their children, compare to million of moms and dads in America who perished due to covid.
TheyStill not coming out to protest CCP
This is the top 10 channel out here in TH-cam whose content has not deteriorated even after so many years.
Thank you for your great content.
I was there when this channel has not crossed 1 mil milestone.
Keep up the goodness and thank you from everyone.
DEATH TO COMMUNISM.
Other 9??
@@yashxgx one is Wendover productions
yes he is one at the top but i bet you don't know those underrated channels who really deserve the praise especially the one's who made the real headline news featured in this video. This channel only summarize and combine contents from various sources. He's good in re-telling stories that are not covered in mainstream news media
B1M
I love this channel so much. Very well explained.
Didn't expect to see you here, doc. How you doing 👋
Doc putting the hammer down.
inyong Lu! inyong=tl0ol
One of your videos got me here. That was weird!
I guess the word love doesn't mean nothing if you "love" a channel.
I have an old friend in China. He has written the lock downs have been extreme. His Chinese wife needed to go to the hospital, and while it was difficult to get permission, it was possible. The train was completely empty except for themselves.
Interesting idea the lock downs may be to stop civil demonstrations. A lot of people have lost their savings with bank failures.
Interesting
There's even darker theories on how the lock downs are being implemented.
They're pretty much used as a weapon against the population groups the party considers problematic; Fill in the blanks...
For the sake of the people there, i truly hope this won't last long. I can't imagine the suffering of some...
i live in the states, where a million died unecessarily because of governmental incompetence. China did a far better job preserving lives
It's hard to find out things about protest in China while being in China but it depends on the city. I was on a island city and I experienced 2 lock downs on varying degrees and they were not bad actually. .my friend experienced a total lockdown in guaiyang China just last mouth and that was disgusting. I was scared for her. Like no one could leave and people were sharing videos of people killing themselves. That was a poor and crowded city actually so there was no saving that. .
some woman got famous in that city because she was outside crying in the middle of the street because she had nothing.. she was apparently taken home but unfortunately there us still a loud online population of men who will shame u and talk bad for things like that pleading with local government to arrest her for making China and the local city look bad ,they said she was creating division. Many older Chinese are very blindly patriotic and literally everyone uses tictok . People will drag your name easy if u don't follow the pac..during covid I've seen people really get ugly and I was lucky to always be I'm a city that wasn't too badly changed.
@@levelazn china's job in general was pretty good actually, I lived in China 3 and a half years. There are good examples and some pretty bad ones. Shanghai was in pretty bad shape a few mouths ago. Xian was in heavy lockdown at the start of the year but I didn't hear any bad there. Guiyang jus last month and shezhen . I'd say in my experience, getting totally locked In your place was probably a minority of the time but in some of these city where people depend on buying and working on a day to day bases ,u are literally killing people by week 4 . Actually I've been rich and poor in China and made many friends in my age group of similar statues .there was a time when me and a few friends were sharing everything trying to split 100 RMB which is less than 20 USD .
I saw people not make it, in many ways the laws were not fair and not rational or realistic . Like foreigner having to quarantine at their own expense or making a full community test 2 times a day for 15 Days while under lockdown. That's doesn't even make sense to do. Because in China most people don't understand how covid spread .
I literally Had an argument with some people in my community that thought lockdowns and isolation was better to stop covid then practicing good hygiene. Older people in China always talk about responsibility but rarely do. Its like talking to a brick wall 😂
I'm an American. My wife and I do not trust banks. Our savings are invested in gold coins, with a reserve of cash, all in a special hiding place. Do no trust banks, amigo.
Absolutely fantastic episode. You managed to encapsulate and explain all the issues mentioned in the past few years but make it understandable. Top job 👍
I'm actually shocked that there isn't an army of Chinese propagandists trying to mitigate & minimize everything said in this video. Perhaps they haven't found it yet. The scary part is they speak perfect English and pretend to be Americans. Sometimes they're hard to spot but dead giveaways include Whataboutisms and the Tu Quoque fallacy.
The biggest issue is that the people running the systems that are creating these debacles in the financial market are not being jailed they are allowed to get away with crimes that they committed and they get to keep the money that they embezzled from everyone. When people who are low income need access to funding we can’t get it so we are unable to get out of poverty because of those kinds of things.
And it is not a problem of China alone..
White collar crime. The 2008 financial crisis was basically the culmination of shenanigans done by white collar professionals of the financial services sector. Now China too has such problem, corporate executives basically run schemes to fleece investors' and clients' money before running away and hide their ill-gotten wealth in some overseas tax havens.
That's called communism. Just read animal farm to get the spirit of it.
boy does that sound familiar
FR
Pre Sales concept is very prevalent in India as well. And unsurprisingly also results in delayed delivery of houses or sometimes no delivery at all with buyers stuck paying Home EMIs, waiting for Legal solution.
India is no different that China when it comes to hegemony being wielded around like an absolute power. In China, it's the CCP doing it. In India, it's the corrupt municipal level administrators and middle-men doing it. At the end, it's the people who get fooled.
But there's one major difference between India and China in this regard. In India, the people have the option to demand better and more regulated services from the government and the private sector. But we chose not to. We chose to take the easy route of bribing those who ask for it just to reach our goal.
RERA rules dont allow developers to invest money earned through pre sales to be used in another project and delayed possession can result in heavy penalties for developer.
@@shubhamyeole5672 But do they follow it. We've rules alright. But who's following it. And who's ensuring that people are following it. That's the issue here in India. When the majority follow the rules in place, India will be soon become a trustworthy, developed country.
that is called down payment
@@reach2prasanna The problem isn't that the Indian citizens don't follow rules, rather the govt is too corrupt to enforce them.
Thanks!
Here in Brazil is just like that, all the big property developers do pre-sales. Between 2007 and 2011, 100% of the sales were from pre-sales, they sold all the apartments in a 7 days of pre-sale, at the end of the 3 years to build the apartments, all the apartments were sold, but afther 2011 pre-sales slowed down. I work in a property developer between 2015 to 2019, they were selling 40% to 50% of the apartments in 6 months of pre-sale before the construction starts, and at the end of the 3 years construction, round 70% were sold, and then it was 2 more yaers the sell the rest of the apartments, so it was round 5 years and 6 months to sell all the apartments.
Here lots of property developers did the some thing as in China, they used the pre-sale money from a project to finance another project, but then the goverment made a law to protect the buyers, the goverment create the "special purpose company". So now, a property developer needs to create a "special purpose company" for every project, every "special purpose company" has its own bank account, so now, the money that goes in a "special purpose company" bank account can't go out to another "special purpose company" bank account.
And here in Brazil, almost all the property developer always get a bank to finance their project, but the bank normaly at most finance 80% of the project cost, so the property developers need 20% to 30% of the project cost to start the construction. Normaly there is 6 months of pre-sale before the construction starts, for them to try get the 20% to 30% of the project cost, so the more money they can get out of the pre-sale, less of their own money needs to go in the project. After they get the bank to finance the project, during construction, every money that comes in, because of the pre-sale, goes to the bank that is financing the project.
Dirty dogs those developers. It’s amazing how many developers feel entitlement for other’s money to do their project and how much it’s accepted as “just the way it is” based on public fear or scarcity. It’s not just how it is so much as how we are willing to accept this behaviour when we don’t want to be left out.
I would be worried about getting what I have paid for! Is there any way to complain about shoddy workmanship! And what is the history of the resolution of customer complaints?
20-30% of the total project budget... with steel price variance... is a crapshoot.
can still easily get burned
This channel has been one of my favorite since the Galaxy Note days. The content in this channel is well researched and presented. Kudos to you Dagogo!! Pl keep making more videos.
Surely great entertainment.
Remember when this channel used to be called ColdFustion?
DEATH TO COMMUNISM.
@@kumbaya69421 90% of the viewers "No it's been called ColdFusion since day one".
Biggest lesson of 2022: Nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@@instinctively_awesome8283 Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
@@Patriciacraig599 The one effective technique I'm confident nobody admits to using, is staying in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $700k since 2017. Just bought my 3rd property for rental. Credit to Susan Agnes Hancock.. my Investment-Adviser
@@instinctively_awesome8283 Susan really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
@@instinctively_awesome8283 If you do that, you are ignoring the lessons learned of the past. That is regression, but rebranded as progress. It is best to look at what others are doing and learn from the mistakes THEY made or you are just spinning your wheels doing redundant things. Creating all your own processes without acknowledging what others have done is foolish at best, self destructive for the wider world as well as your own personal well being at worst.
Watching this after literally watching 3 Major U.S. banks collapse in 72hrs
P.S.: Love ColdFusion... I'm expecting a video coming soon on this 'SVB' and 'Signature,' but it seems we're not done just yet.
@@komit66FYI these "free high quality knowledge channel" are all backed by NGOs with hidden origin. If someone needs to push an agenda, they only need to send an email and paycheck.
The whole world had erred in to espouse globalization. Especially, had made China the factory of the world and brought about its rise. Thus, induced chaotic economics of this present day.
Those banks had skewed investors and investments. They don't seem representative of regular banking vehicles. 😮😮
Dagogo covers every story brilliantly. I wish there were extended versions of some of your videos mate.
Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to maneuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere?
@@sheliaswelttk2535
@@tomjason2495
@@gabriellewilson5625
@@davidnewbury1721
ColdFusion is one of my favorite channels right now. So interesting and in-depth analysis.
Comprehensive analysis and facts are always helpful.
Can’t believe I just found this channel…I binge watched a couple of weekends ago while playing Soulstone Surviors
I remember when Polymatter explained the Chinese housing market earlier this year. He explained that Chinese were not getting bad loans, so they might not see a replica of 2008 in the US. But I just thought, good loans or bad loans, there’s no way this investment strategy can keep up if no one will ever live in these second homes.
Polymatter does a far better job of nailing the nuances
Their housing market is not sustainable, and most educated Chinese people know it. In conversation with my relatives in China, they even mentioned the future problem of housing interaction with inheritance -- since most Chinese are one-child, when baby boomers pass away, all the "millennials" (post-80s) will be left with 2-3 apartments, and the extra apartments unless near vacation destinations will be worthless. This is why most families are willing to sell houses in exchange for children's education.
IMO, the root problems with housing are 1) Chinese stock market is messed up, full of pump-and-dumps and bad for long-term investment, so there are few other good investment opportunities for the people; 2) municipal financing, where it is easier for municipalities to generate revenue by selling real estate development rights than to raise taxes or to actually develop the local economy.
CCP have been trying to fix the stock market for a number of years now with varying degree of success, even their tech crackdown in the past year had a component trying to fix the stock market (i.e. domestic IPO requirement). It remains to be seen whether it will be fixed.
@@countofmontecristo8369 it's easier to do with the longer videos
@@countofmontecristo8369 partly
They got caught up in China's property Ponzi frenzy!
The fact that people would pay monthly mortgages on a property that hadn't yet been built seems insane
Honestly the biggest hurting points for this is globalization and pure greed. I don't think china is alone when it comes to relying on cheap imports and a specific industry to fuel their growth. Never understood how people thought free trade would be abused and relied on by governments who think it would continue on forever.
The path for the entire world should have been steady solid growth while making sure you can really be self sustainable without the reliance on the world for trade.
Well China has been self sufficient for hundreds of years and look what happened to us in the 19th century lol. Globalization has its issues for sure, but it’s definitely better than each country just be on its own.
@@rayzhang7591 Yeah right, that's the reason China became so rich in such a short amount of time, now how they manage it will decide future.
Greed is not bad itself. I think it was hubris. All these companies overlooking the signs of bad management because they were seeing high yield from Chinese investments. Ofcs they would know this will eventually happen if they looked seriously into it
But global trade creates wealth. Since the beginning of history the source of the wealth was trade. Of course it's equally true that every time trade got disrupted, the wealth evaporated quickly, and governments collapsed.
A secondary benefit of trade is peace. Trading partners try to avoid wars, because of the previous point. War disrupts trade, and trade is the source of wealth. Whatever they hope to gain from a war, it likely not worth the cost. The current Russian invasion is a great example, the economic cost for all parties is enormous.
The solution for this after the world wars was to set up global institutions that enable and protect free trade. And it worked for a long time, up until recently. Why it failed is a complex issue, way to much for a TH-cam comment.
@@andrasbiro3007 you're obviously a thinker best comment I've read in a long time👍😎🇨🇦
my favorite channel, thank you!
a follow up on the UK would be good after our last mini budget ended up nearly crashing the market and our Chancellor was sacked
UK would have to have many updates, if you want to keep up. Add to that the shortest serving Prime minster in history or even the highest number of Prime minsters in 4 years? Complete mess!
Would love one documentary done on Canada's economy: insane real estate bubble and lackadaisical leadership highly influenced/controlled by oligopoly (i.e. telecom) companies.
Prices are insane but only affect small number of recent buyers who bought at the peak. That could lead to a slight recession but employment is very strong (due to mass quitting and retiring early) and wages are going up so no big deal. China problem is 10 times bigger - unemployment shot up, salary cut, poor relationship with the West causing investors to flee, ridiculous policy, forced donations or huge fines to businesses shake confidence of doing business.
@@gerhardschulzy While I would like that since I'm Canadian, I also know that nothing can put a person to sleep as fast as talking about Canadian socioeconomic politics.
@@MechaSlinky I'd be interested actually. Here in the U.S. we're actually more likely to hear news about China or Mexico or Israel than about Canada, so i feel VERY out of the loop about what's going on up there lol.
I agree that would be good. China helping inflate the prices of homes in Canada due to all the property buying and lackadaisical rules regarding purchasing. It's a shame even foreigners own more property than those who are actually born in Canada and can't even afford anything. This housing market in Canada has been overinflated since 2008 and hasn't changed since.
@@johdo9953 Completely incorrect summation of the Canadian economy, both on your inaccurate assertions in the real estate market and you neglected to mention inflation impacting far more than housing. I wonder if you are somehow sponsored by the Canadian Prime Minister as your are spewing the same nonsensical rhetoric that his government does.
I think "interest" has put every country in this situation. Bit by bit, recession is overtaking every country
WOW SIR VERY DANGEROUS !!😠😠 BUT THIS WHY IM SO LUCKY LIVE IN SUPER INDIA 🤗🇮🇳 THE CLEANEST COUNTRY IN THE WORLD , WE NEVER DO SCAM AND WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗
Welcome to the Captilalistic 10yr Cycle of 'boom and bust'
Nuffin's gonna change, it's just business as usual!!
[this is when the rich buy up]
:)
Scary
@@indiasuperclean6969 your so funny......everything you say is so not true 😄😄😄
Love this channel ! The videos are so well produced. Love the music choice and specially the content that always seems to cover multiple points of view. You must spend so much time in research.
Keep up the great work Dagogo!
And filled with advertisements! Woohaaa🎉🎉🎉
Bai lan is similar to the term “Soft quitting” popularized on social media in the west. It’s not actually quitting your job but rather putting in the bare minimum work to not get fired but never going above and beyond.
I went to China before the pandemic because I wanted to go after I saw vids of the replica cities they have such as a faux-London and faux-Paris and it was so surreal. During our trip met a nice couple from Iran who immediately became friends with on our travels. They were more forward than us and said this seemed unsustainable for China doing stuff like making cities where no one lives in them.
It's not sustainable to build cities where no one lives in them? That's not an insight, that's common sense.
@@oldmandoinghighkicksonlyin1368 you tend to watch your tongue when you're in a foreign nation that isn't big on free speech. Last place I wanted to end up was in a jail deep in mainland china or being harassed by the police. the fact that he brought it up in casual conversation, you immediately get paranoid that someone is listening. Say what you want about the US, but when you leave your safety net, you're playing by someone else's rules.
@@oldmandoinghighkicksonlyin1368 Common sense can be rarely spoken when the government is watching you like a hawk
there are different ways to develop a city. one which is a long term and also will build a deep community culture and relationship is by doing the old school way which is give the land to those poor people who are being arrested for illegal settlers in urban city. these poor people will start to build family on that new land, start to grow and build community of their own. it will atleast takes 20 to 30yrs before it become a fully fledge city.
but China did the opposite.
they build the houses and sold it to the public and hope that they will build a family there and create a community.
problem is those people where they sold it are not "poor" family (well they can afford to buy these houses.)
these people will not transfer in there coz they have current jobs in their current location. in short these people will not be transferring until they fuck up in their life and decided to settle else where.
on the other hand, these places haven for introvert who's jobs is also home base and only need desktop computers such as gamers and Vtubers/tiktoker. also a lot of these western styled city in china is being used by photographer for wedding prenup and school field trips, it is like a disneyland for western architecture theme park.
Man my uncle was designing building there for a long time and he said the exact same thing back in the late 2000s man.
What's happening in China can't be any different from anywhere in the world right now with selfish interests ruining us all. The great fall has already occurred, and inflation is a disaster. The FED will need to use every effort in order to stop the market. Markets are being destroyed, which is a regrettable situation. You must rely heavily on diversification if you wish to remain green. Currently 17% up on my $840K portfolio while being cautious. Even so, it's still better than keeping it in a checking or savings account that pays 0-1 percent interest.
It is more difficult to create a solid investment portfolio, thus I advise hiring an investment advisor. You can then receive plans created to address your particular long- and short-term goals and financial aspirations.
One of the main reasons I have an investment advisor oversee my daily investment decisions is because their entire skill set is built around going long and short at the same time, using both profit-oriented strategies and laying off risk as a hedge against the unavoidable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Since hiring an advisor for about two years, there has been a return on investment of more than $550,000.
@@graceocean8323 I will need such tutelage. How does this work?
This is easily the most boneheaded pollyanna comment I've read on an economics vid for some time. No other country now or in history has done and is doing what China is. And as far as "gree" is concerned, watch your positions closely. "Green" is just as much a farce as China's GDP.
@@tampabayrodeo2474 this entire thread is a scam. It's a well written cliche at this point. "I make impossible amounts of money with zero risk, you should find a way to do that through a financial adviser, too. Why earn 3% on your money when you can earn 25,000% like me, not have to do anything and never risk anything?"
"Gee whiz mister, i need to make 25k%!! Who do YOU use?? Everyone i find is either a criminal or won't promise to 25x my investment with no risk!"
"Ah, you are wise to ask me that, random yourube account created the same month my totally legitimate account was. Look up this name: >INSERT NAME OF SCAMMER WHO TOTALLY WON'T STEAL ALL YOUR MONEY
Wow! A very informative and resourceful video. I must share this with many of my friends. This is Satindra in Canada
I will never understand the stupidity of pre-purchasing, you are gambling your goods on unknown future circumstances in exchange of ~10% discount, in our times that's just stupid...
I find it fascinating how, within a few short years of (I'm convinced) hardcore economic studying, you managed to branch your videos the from tech innovation spectrum to these beautifully explained economic insights type of formatted videos... Dagogo, you are truly irreplaceable! Hope you are doing well and please please please keep it up!
He's just repeating verbatim what others like China Insights have already said. His editing is superior though.
@@pyrus2814 True... sadly he hasn't added anything, not even trying to bring mixed views from multiple sources so we can have a more rounded view of the topic.
@@williamy45 lmao OK.
So much clarity in explaining the complicated subject! Love this channel !
Your video editing skills are second to none. Great job. Great video.
I think we will see / are seeing “bai lan” in the west. With prices going up and real estate becoming ever more unattainable. Many young people are just thinking why bother. In the Uk many people (myself included) saw house prices increase faster than they could save, and hence found it impossible to buy.
It might be worse in the West, land is privately owned, cost of living is higher, and there is plenty to do without buying properties...
In the end - why work hard when it doesnt pay off.
Sometimes i do wonder, why do people bother buying new houses instead of living with one of their parents? Is it a requirement? Or maybe culture?
@@wisdoom9153 largely cultural but that idea is shifting. My grandparents generation kicked their kids to the kerb once they hit 18. My parents generation will let you stay until you save up enough or become more financially independent. I personally, would never have a child without accepting that I may have to financially support them for their entire life.
Can I just say thank you for an actually well thought through and rational video on the situation of China's economy, like seriously.
Its refreshing to see more big influential channels being smart and thoughtful when talking about economic issues and problems that affect millions, so from the bottom of my heart thank you. ❤
DEATH TO COMMUNISM.
Speculators: "Growth!"
Everyone else: "But at what cost?"
Speculators: "GROWWWWTH!!!!!" 🤑
I never thought China was in this dire situation. Im not involved in finance so I had no clue had any real issues. I enjoy this content so much.
Bro, the Chinese and Japanese live via working to the extreme, it's insane
Every year the Western media say that the Chinese economy is about to collapse, and it has been said for decades. But why every year it is said that China's economy is a serious threat to the West?
How does a China that crumbles every year threaten other countries? Which of the China Collapse Theory and China Threat Theory is true🤔🤔~
Can someone answer~
There not, try doing your own research and thinking for a change and rely less on propaganda.
DEATH TO COMMUNISM.
What this video doesn't mention is it's dire demographics, they've over counted their population by 100 million, and if nothing goes wrong and the world carries on being globalised China's population will go down to 600 million just by ageing alone, that's without upheaval and famine, and they will have both to the extreme, expect China's population to go down to 300 million by 2050
Thank you, ColdFusion
Daggo showing his true humanity at the end, "it's never nice to see innocent people suffering"
Dam straight.
So true.. tbh
and the hated leaders (of some) will still get out fine and still live worry free life anyway.. it will always be the poor people's fault
The poor always suffer the most consequences. There is little proper justice in a recession/depression unfortunately.
Usa is collapsing. Sbf still roam free 💩
I don’t think he is showing true humanity at the end. he seems to be equating Brexit, which was approved by the people of Great Britain, with the dictatorial policies of Russia.
Look dude, Tagogo is not golden. He is very good, I love his documentaries. But he is biased also, biased towards big government and socialist policies.
It all looks good here and now with everybody getting Covid shots for free, and everything else for free, tell me now, who pays for it in the end?
The massive debts are piling up. Let’s see if Tagogo does a documentary on this, ever. … because every nation with massive socialist policies also has massive debts that they can never pay, never ever!
This is the biggest problem with Socialism, someone in the future pays for fake prosperity in the present. Want to bet your Australian hero never takes this on?
Supposedly he does documentaries on finance. Never heard a peep from him about national debts….. not even a little mouse squeak.
I’m sick of socialist pigs spending other People’s money, or money that has not even been earned yet, and Posturing as the good and great saviors of the world.
Excellent article,, very nicely presented; segmented into chapters for each issue, issues described thoroughly and in a way that helped me understand and better feel the impact of the issue on the Chinese economy and its people. Thank you, I will follow your articles regularly from now on.
Nice to see a big creator cover what is currently going on in China with no clickbait. The truth is we don't know what is the future of China. From our pov, here in the west what is happening rn there, should result in an outright chaos... But that is necessary true when it comes to China.
and just a few weeks after your comment a revolt started
@@fourshore502 yeah... And it'll probably be swept under a rug
@@fourshore502 But now。。。
Don't let this video die please! Since it was published, three major western banks got rekt, Xi was re-elected, united Iran and the Saudis, there is a huge line to enter BRICS (which now is more powerful than G7 economies) and China said US to go bananas regarding providing weapons to Russia. Lets keep counting...
that doesnt age well isn't it?
I just discovered this channel OMG , this guy this channel is absolutely what I was looking for ,, you can’t believe it ,,, I am thrilled.
Good news
You know it's bad when ColdFusion is made a video on it.
There's certain people on TH-cam that were more than certain to be born to make certain videos and you are definitely one of them! I enjoy every video in the content in them that you make
I lived in Shanghai from 2014-December 2017…it breaks my heart to watch documentaries like this…feels like watching a friend slowly die of cancer
I can relate to youth not bothering to work. I work so hard and still can’t afford a decent place to live.
Always the result of centralized government policies is bungled economic policy. There are no exceptions.
You live in a major metropolitan center don't you?
Pre-sale market is their in India as well but has many guardrails with it. For example: The mortgage gets released from bank to the developers in stages of the construction and also the builders needs to show they have the liquidity to back the project.
Apparently the mortgage paid is supposed to be locked into escrow account, but somehow, it’s gone
Lehman's brother moment 3.0
Yeah that's similar to Australia. It's called buying 'off the plan'
I don't pre-order my video games. These people are pre-ordering homes?!
I think nowadays most people consider it as an investment as well but it's a risky one. It was astonishing to me that 70% of the investment was in real state, that's bonkers.
New subscriber here.. i mean I'm sorry for being late to the party but I'm glad to have stumbled on this channel. Now I've been binged watching for hours and I can't seem to stop.
I love the calm narration and the well researched topics. Well, I have always loved the Aussie accent anyway. Keep em videos coming.
Now back to China, yeah, my first thought went to the people and how they must be doing right now. I hope the Chinese govt will think of its people instead of saving face. Since cat's out of the bag anyway, please do something. NOW! 🙏
There's so many similarities and red flags when compared to the 2008 financial crisis which too started with just unlimited and unreasonable real estate building, which in the end fell apart. You can't just expect there to be unlimited demand for new apartments. In my opinion it's just the corporate mindset and endless hunt for stonks graph. Of course, now we have the benefit of hindsight but I think that the red flags, especially taking the 2008 crisis into consideration were there all along.
I don't see any sign whatsoever that the West is enjoying the benefit of hindsight. We have a massive property and asset bubble predicated on central banks handing out cash at interest rates vastly below the rate of inflation. That is to say paying people to borrow money. The rationale for this was to encourage investment following the crash to offset a crisis in liquidity. It has since become the norm to subsidize corporations with free money provided by taxpayers. What in fact happened was a vast asset bubble and the fruits of state generosity being salted away in offshore bank accounts. Worse still a large chunk of the money which is underwritten and provided by taxpayers has been used to inflate the housing market and extort the very people whose credit card provided the cash in the first place. The West's economic and political problems are every bit as enormous as the Chinese ones.
@@osric1730 absolutely. Video was interesting propaganda for entertaining and not to be taken seriously.
Liked your synopsis.
Real world perspective.
i disagree, the shake up in china is intentional policy of the government where the government intentionally halted borrowing to force those companies that are shaky to fail. in 2008, the US system collapse on it own because of a lack of regulation, rather than an increase in regulation which we see in china. china will naturally have property issue which was predicted 20 years ago because that grow was driven by cheap land and the land will naturally become more expensive in time and lose their benefit, however this is a natural fall then a bubble.
If you think that's bad, you should see what America did and how it printed more money in the past 3 years than the past 40. It's going to get really bad in America, considering that Russia just ripped its dollar hegemony apart.
@@alexandrep4913 Except Russia did no such thing. The dollar has increased in value over the period of the war in Ukraine, indicating that the dollar is still the worlds reserve currency, and the only reason why the ruble isn't toilet paper is because Putin introduced currency controls.
According to top Western analysts China is/was collapsing since 1949. China collapsed from a 3rd world poverty stricken banana state after decades of war, exploitation and infighting to the number one economy in the world in PPP terms in 2014.
China is still collapsing. Perhaps by 2035 China will totally collapse into twice the nominal GDP of the US (3 times in PPP terms.)
Meanwhile China is helping all the African countries to build up their infrastructure to boost their economy. The west calls it debt traps. So did the west help Africa during centuries of occupation?
And that's how the cookie crumbles....
Sad part is its always the general people who pay the price, the rich always gets away
I love the final note you added at the end. It's always easy for people to forget there's a person on the other end of these types of things. Specially when countries demonize them.
Specially?
Isn't that what the CCP is doing to the west?
This reminds me of the first Ghostbusters movie: "You're never gonna regret this, Ray!" "My parents left me that house...I was born there!" "Everyone has three (3) mortgages nowadays." "Ray, for your information, the Interest rate alone for the first five (5) years comes to $95,000..."
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I’m seriously thinking about deleting TH-cam due to the lack of quality content or rather the overwhelming amount of terrible content that makes it difficult to find the good stuff. Coldfusion is one of the exceptions. Very much appreciate the calm and relaxed delivery of what looks like well researched content.
I feel the same, but I think the better approach is to keep it, but ignore it mostly, except for the content that truly deserves our attention. Remember the internet just provides more of what we seem to already consume. So if we all ignore the rubbish it will hopefully fade away. Be discerning of who gets your attention
@@KingOath wise words and good advice Marty
You mean quality as in neutrality?
As long you don't watch tiktok lol
Yep, this channel, music, and pet videos.
💎 🎵 🐕🦜🐈
Keep up the good work! I like the amount of research you have done for the videos.
Bot
The fuck? This is just a wishful thinking Langley humid dreams XD
Western countries atop relying on China, ! hopefully their economy tanks so the CCP goes down and gets replaced with a democracy,, find other trading partners.
Paying a mortgage for the PROMISE of a property being built one day is heartbreaking, the amount of trust these people must have had in the developers to even consider that sort of situation is just not possible for me to imagine. The 'little guy' is the one that has been most impacted by this collapse
I mean if you think about it, it as risky as any investment. The problem I see with it, is that there is no incentive to build well, if it is already sold.
@@tilmanrotationalinvariant2257 Umm, no, it's VERY different from many investments.
Most investments are actually WORTH something concrete, like buying a stock in a company usually means that company has something that's actually worth something were they to fold, like buildings, or inventory of product, etc. Yes, we're not talking 1:1, but the risk isn't 100% loss, usually.
With these mortgages there was ZERO actual value. Some of the buildings were started, but a shell of a building sitting around for years is worth less than zero since you can't complete it if it's degraded past a certain point, and will actually cost money to tear down.
@@repatch43 The way these developers were doing things sounds more like MLM or shady crowdsourcing than a healthy form of investment
@@LabradorNewf Absolutely, it was a classic pyramid scheme
Whats interesting to me is that the Government there seemed in wonder why the people would be in an uproar and then stop.making payments. Really?
When i see no forward progress being made follow through with Promises made???
Amd they actually believe that they should keep making payments. And then to wonder why there are protests
Is the Government om freaking drugs?
Their own power struggle of their lack of mitigating these issues before they became issues. Im seriously FLUMMOXED
Thank you for clarifying what is behind China's economic downturn. The US needs to pay close attention. I think countries are beginning to modify their dependence on other major world leader countries for supplies and start depending more on themselves. This is largely due to a combination of Covid 19, Russia's attack on Ukraine, the instability of Iran and Saudi Arabia all combined. I think that part of the US and Europe are beginning to wake up and realizes how we need ti become more self sufficient especially in those areas that our economy and people's survival mostly depend. I think global exchanges will continue but will consist of those items that are not necessary for survival.
More like Europe needs to break away from the US before they can grow and become a major power again. Else they will only dwindle following behind the US trying to sanction China and Russia.
I have to say.
Dagogo this has been one of your best videos.
You guys always make the best videos. Whenever I see you post something new I always make sure to watch it.
Seems to me that the problem consistently, ultimately, is the interconnected systems and networks have massive feedback loops just waiting to kick off everywhere. And they all start small but cycle up to massive issues that kick off other feedback loops, etc. If there are no air gaps between systems and flows or at least firewalls, it doesn't matter where you move your processes, locations, methods, etc to - remodeling the global chain to local just changes the meaning of "global" when considering your dependency chain, ie now the triggering value and location are in another US state, but the feedback loop is still there regardless of you need steel from Pennsylvania or China. You still need it and if those processes need your output to function it's still the same problem.
It's like when I set my fantasy football lineup access I've got a quarterback and receiver from the same team starting; every pass that quarterback makes to that receiver scores me points on both sides of the play so I'm making a killing. But, every time that quarterback targets someone else, I'm back less than average performance than if I just put in a quarterback and receiver that are guaranteed to get action in their respective games and have no link to each other's performance (my receiver drops the ball and I get no points for him or for my quarterback when they're on the same team - their performance is linked and so is their failure.). But, here's the key - I only need to get enough points to beat the lineup I'm up against that week. Those times where the linked performance shines (20% of the time?) only makes my win margin larger. The outcome is the same if I win by 1 or 100 points; I get 1 win for that matchup against the other lineup for the week. That extra risk to win by more screws me more often than I break even at best.
If you can isolate your processes, even if it's at the cost of better margins, the move for robustness is less sexy, but probably more viable across time and it doesn't matter how long you win by more if eventually the trigger to blow up the entire thing is ever present. After enough rolls of the dice you'll hit snake eyes so it's best to not ignore that fact.
Bottom line, feedback loops cascade failure until there's a firewall or airgap.
Oh yes, NetSec and OpSec in a nutshell...
I like the way you have the example through your fantasy team, I haven't really thought of it like this.
So, I see you're a systems thinker. Great comment sir.
There's a reason they install stop gaps like in a submarine. If an area is compromised with flooding you can control the damage from spreading.
I remember a Korean colleague of mine telling me a story about an emperor in China centuries ago asking his advisors what he should do to improve the prosperity of his people. The advice was ‘do nothing’ and by leaving the Chinese people to get on with their lives their ingenuity and innovation made the country prosperous. The problems that beset China are as a result of those in power meddling in matters that they do not fully understand with the consequence that they now risk poverty.
Funny I heard the same story but its about the japanese emperor...
This must've been older Taoist or Confusican story. Unfortunately for China especially the CCP, they do not connect with their ancestors wisdom anymore.
@@gamerkev30 what you said would be true if China wasn't becoming a mighty country, this is largely prpaganda mate
@@sharkb8754 yes, but its under shaky ground my friend
@@gamerkev30 but china has been under "shaky ground" for well over 30 years, with ever pundit predicting the collapse of china.... year on year out mate, broken clock is right twice a day, this is just pure propaganda
Civilians are not "innocent". They created and support the CCP! They did this the indirect action or inaction. The civilians deserve everything that happens to the CCP. I'm sick of this "Oh, poor, poor, little Chinese persons".
Thanks for the note in the end. The economic slowdown and all those negative events in China do have very real consequences for the people. The suffering is not „nice“.
Agreed.
That's Communism, the ultimate monopoly doesn't give a crap about you and the individual is sacrificed on the alter of "the greater good" as determined by the good of those in power. Your body--NOT yours, you own nothing and will be happy.
Yeah but those same people enthusiastically cheer on the government's oppression of the people in Tibet, Xinjiang and would happily support an invasion of a peaceful Taiwan, so I don't have much sympathy for them.
Another great video! I think the most surprising part of the video was hearing that Dagogo is a fellow Australian 🤯
I love this channel so much. Very well explained.. I love this channel so much. Very well explained..
Great Video. I remember that a economist in china predicted something like this back in the 90's for a BBC news interview, He was ridiculed back home in china since they were just starting off growing but it seems that he was right. I have a feeling that like some of these comments the Chinese may take it out on Taiwan to make people forget the economic issue, the fact that the US and Europe noticed it quickly means the Chinese will use some other method to get the people on their side.
Thanks to communism, they don't actually own the property anyway, it's technically a lease of the building. That's why they force demolition of alot of properties, to build new buildings the "home owners" have no entitlement to, even if they "owned" the previous building, the land dosn't belong to them.
China starting a war with Taiwan will just end the CCP sooner.
Every year the Western media say that the Chinese economy is about to collapse, and it has been said for decades. But why every year it is said that China's economy is a serious threat to the West?
How does a China that crumbles every year threaten other countries? Which of the China Collapse Theory and China Threat Theory is true🤔🤔~
Can someone answer~
DEATH TO COMMUNISM.
Something I noticed after some sort of major crisis is that someone actually predicts it, gets neglected, it happens, and the cicle continues
You should have been my teacher I swear I would have gotten a 4.0 GPA😂 Such a great video, love the calm, educated way you present the video!
Top A students dont rely on good teachers.
Top students make their own research and conclusions based on available verifiable data
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@@cometomatt This makes as much sense as "A good plane does not rely on the runway"
*Like nigga what? Then what's the point of teachers?*
@@Joseph-mw2rl Well as of the modern, post Rockefeller age, indoctrination and making workers not thinkers. Thats the point of teachers now
Thank you for all the work you put into these videos!
he copies it
@@Daniel-xaogjeyh yes, by doing the research and presenting his finding (in an intelligent way). Think of it like music, or actually just anything, it's based on what happens before. Like, where did you copy your language from? We are all copies, copies that come from a remix
EVERYONE look at the profiles of these fake paid commenters like 'BITTER' and 'Johnny Anda'. They are obvious shell accounts designed to boost this blatant propaganda and help shape the opinions of common sheeple who are completely devoid of #CriticalThinking
DEATH TO COMMUNISM.
pls pls pls, they are all lies, pls dont believe in his propaganda.
Where is the bank failures in China and why do they never hit the world news?
I was in China around 2010, on a river cruise, so we visited many small towns. Those empty apartment buildings are strange and weird things to behold.
The Chinese Gov. built all these buildings to encourage people to stay where they were and not move to the cities. The problem is, there were no jobs outside of the big cities, so people moved anyway without Gov. permission. Without that, they couldn't hold a legal job or get any housing, nor could there children go to school. I saw entire mini-cities built with left-over construction materials, like sheet-rock, under every highway overpass in the cities. No electricity or plumbing, of course.
As a social worker for part of my life in the inner-city projects and in rural America, I've seen poverty but never, ever like the poverty I saw in China. I was appalled. There is, also, no healthcare available to the poor of China. The idea of health insurance was just beginning in China back then but I have no idea how it has evolved, so the cost of healthcare was an issue for those with jobs and money, too.
China had a huge problem with the elderly, as well. Due to their one-child policy, there were not enough adult children to care for their elderly parents and grandparents. Two married adults with their one child could not possibly care for four parents, eight grandparents and more if great-grandparents were living etc. It appears the issue of who would care for their elderly did not occur to the Party Planners when they instituted the one child policy.
Also, interesting is that these apartment buildings come with no plumbing or electricity in the units. The buyers have to install all that, along with lighting, sinks, stoves, toilets etc., themselves, so getting a mortgage on an apartment, at least, at the time we were there, was only the beginning of the expenses for the buyer.
As I said, seeing these many empty buildings was a strange experience, almost, dystopian.
No doubt 1 child policy was a mistake, but you either miscalculated or exaggerated there. 1CP only started in 1980 so no such thing an adult having to support "8 grandparents and more if great-grandparents". 1CP did not applied to the grandparents or great-grandparents generations. They don't have sibling, but would have cousins to share the grandparents responsibility.
You are definitely exaggerating like western mouth piece.
@@jasons4045You may be blind and don't accept it, but as someone who's traveled to 40 countries, I'm saying this person is teaching, and I've seen these things in China.
Even though Kolkata, India was proposed to be part of OBOR, India refused to be part of this project still I see same map in almost all the videos on this subject.
MASSIVE respect for that closing remark on distinguishing between government and people. Too many treat them as one and the same, appreciate you trying to combat that.
The problem is that the government like that wouldnt exist without the peoples will as stated by Rousseau. The people have sovereignity of change of establiblishing a government and still they don't make change for it.
@@inigobantok1579 They are not in a situation like the west, they are another soviet. the people decide nothing. going against the govt costs your life and your familes.
@@inigobantok1579 they’ll be ran over by tanks if they try to do anything
@@hahahahahahahh9830 Which will create more anger as firing on your own people.
a year has passed, and China's economy is now the world's largest in terms of GDP PPP
I agree with the younger generation of China, it's the same in the western world. I've been looking to do the bare minimum to get by for the past 2 years. There is nowhere to park money to be safe anymore, investing in fiat has inflation risk as well as the risk of a currency default plus you pay tax to earn it. I bought everything I wanted and needed when I was younger so I've checked out when it comes to trying to get ahead.
There is always something to invest in, when the current big thing/opportunity closes/crashes another one opens up. Its just a matter off getting off your butt and finding it. Problem is youth today listen too much to all the doom sayers, "the end of the world is nigh" - do you not think things were 100x worse 100 years ago in the depression? 1000x worse 1000 years ago during dark age wars?... admittedly today even the tiniest transgression is exacerbated by the internet, but thats easy to turn off, youth have evolved from the world is your oyster to pathetic and weak couch potatoes because of it. Its just a matter of deciding that you want better than this, removing yourself from distractions, putting your head down and making it happen even through all the shit flying your way. Thats how life works... Fortes Fortuna Juvat
Fantastic video! It’s the first time to hear someone describes China’s real estate industry as a Ponzi scheme. Normally I hear people said that industry is “over leveraged” in China, but I think you do have a point. It’s just crazy to learn that Chinese home buyers are paying their mortgages months or even years before their homes are delivered to them. What’s government will allow that to happen? But it is also shocking to me that many Chinese friends that I know seem to have full confidence and trust on their government. It is so sad to see innocent people suffer, and it seems always innocent people will suffer, that makes me feel so powerless, and no wonder the youth now choose to lay flat and let it rot.
The entire world economy is one giant ponzi scheme, its how money is created
Actually, this type of mortgaging is not only found in mainland China. The same system of pre-sales and mortgaging your house before it's built is also the most common form of real-estate transaction in Taiwan as well!
What do you mean? You can buy a house before construction and start paying from the moment you signed the docs. At least in Ukraine, Israel and Germany
It is simple. People kiss china’s butt because they were “powerful” but now it’s rep has gone to 💩, news outlet will now won’t hesitant to uncover its real identity
I work in construction on Canada and I thought this was normal. Here they don’t even start construction unless they’ve already sold 80% of the units
Best informative and educational channel on TH-cam
7:45 shouldn't the cash to short term borrowings be *greater* than 1 indicating that the company has enough cash to pay back any loans or short term borrowings they have ?
I love your contents...From 🇪🇹Ethiopia
Great analysis. One thing you didn't mention is land ownership. The real estate market in China is different from the West, for no one OWNS the land privately. It's 70-year lease. The Chinese government owns the land. "The land and water (territory) are the people, defend territory is to defend people. We defend our people and their hearts". Xi's recent speech. Currency decouple.
70 year lease wow, so it is better to just loan it, right?
I mean rent
Because everyone is running high on the "they can't possibly take the land back after we paid that much money to them" concept, they don't have a choice,they need to believe that,or else how could you justify purchasing a house to meet social standards,if your mindset is of the government will take away the home you put decades worth of money into,dismantle it,and put a highway on it,hell you would rather bai lan or straight up kill yourself dreading it will happen someday
@@novianto.nugroho depends. Depends on the value of money.
@@novianto.nugroho no because you can still resell the apartment/house, the more years left on the lease the better the offers.
Greedy developers, insolvency, miscalulated infrastructuring, the youth revolt, housing issues, political posturing, covid policy. Multi-layered issues! Dagogo giving us meaty reporting!
It also happens in the western countries.
@@chrismckellar9350 I agree. And in some instances Western countries bail out the companies too, like GM or the banks for example. The same game. Western countries print fiat currency, a strategy originated in China. Same tired game.
Yes. He's said nothing so far about the massive corruption and pay-offs. That must be a major problem in these failing companies.
The Chinese attitude towards real estate was... laissez-faire combined with cronyism.
It's a recipe of a disaster.
@@euclideanspace2573 basically the exact same as the usa just with a different bunch of cronys in the wheelroom.
A simply brilliant production.
One thing more about China's future economy is that it also depends on external forces and not just how it deals with it's internal problems.
Cold fusion, one of the best channels on TH-cam by far. Thanks for another fantastic video!
This is a very realistic documentary. I whole heartedly appreciate the author for his efforts.
There is a lesson for all the upcoming economies what to avoid.
The silver lining to this dreadful news is the Chinese people live lives far superior to Chinese of 50 years ago. As long as you avoid politics, I gather the youth have enormously more freedom through technology than their ancestors.
I'm from Singapore and paying for a unit under construction is commonplace here. For government public housing units (HDB BTO "Built-to-Order" flats), you pay downpayment while it's under construction (a few years) then start paying for your mortgage once it's completed. You will certainly receive your flat.
For new private condominiums and landed housing projects, you pay a progressively higher monthly installment ("progressive payments") to the developer at various stages of construction until the project is completed and carry on with your mortgage. So far, most if not all projects are completed and handed over to the owners.
The property market here is tightly regulated here. At any signs of a bubble forming, the government will step in and implement a slew of cooling measures quickly to ensure things do not get out of hand.
The thing is that the Singapore government despite its flaws at the end of the day is not corrupt and ratchet like the PRC government. And I say this as a low level expat working in China but got a Master's degree at the NTU.
Singapore system is mature unlike china which is full of holes
I love Singapore. Amazing country and people. Lived there for 6 years