Why China's Economy is Falling Apart
ฝัง
- เผยแพร่เมื่อ 4 มิ.ย. 2024
- For a long time, the story of China’s rise was flawless. An incredible transformation of the whole country. A new economic model challenging the Western liberal capitalism. Hundreds of millions of people lifted out of poverty. And China becoming the new global superpower, with growing influence around the globe and on its way to replace the United States as the world’s biggest economy.
But lately, things have seemed kind of…different.
00:00 - Intro
01:31 - From Rags to Riches
03:58 - The Price of Success
10:09 - The Economic "Perfect Storm"
Is there any place where people under 45 are doing fine? Seems the doom is pretty global
AFRICA!
Japan
Wakanda
@@JUSTFORCAUSE I don't understand what you mean? It is either cheap labor from hundreds of millions of young youthful africans, or leave the jobs to China forever. Even if China increases the price of labor and products they sell to the globe or robotics will take the place of cheap labor.
Queensland Australia
Dark side of Singapore’s economic success would be a good topic too! Something I’ve wanted to see (and also make) for a while now
Too many kiasu karens now
@@misterbig9025 lmfao I hadn’t heard that term before. Gold
The modern slavery?
I think we all are waiting for that actually
here's the link, for your convenience: th-cam.com/video/XDYy8z7krAI/w-d-xo.html
It’s still truly impressive how China developed from an agricultural economy to a modern country in just 30 years. Just the idea of feeding, housing and employing over 1.4 billion people boggles the mind.
this is truly incredible thing, and only possible in socialist/communist countries, in capitalist countries even today so many people are jobless, homeless and declining in many areas. similar thing happened to ussr in early/mid 20th century, from nothing to super power in few decades
The problem is though is there comes a cost of having such dramatic urbanization in such a short time. The bad thing to is that culturally they have disregarded jobs such as Agriculture so now there is ahsortage on locally source produce because either the land was developed or the young don't want to do those jobs because culturally its taboo because it's a sign of being poor but you need all these different types of industries to keep your economy flexible.
@@NostalgicMem0riesNo, it isn't only possible in socialist/communist countries.
as history proves it kinda is@@BiggieTrismegistus
They are still a developing agricultural nation outside the cities, where most people still live in rural areas.
As a Chinese person, I have to say your analysis gave me further insights into what i already know. The information and footages contained are also very relevant and timely 👍🏼🤓😎
Western pr0pagandaa
Actually, it's really difficult to sustain a strong economy for more than 50 years. China is already hitting that threshold since Deng Xiaoping era in the 70's, but, I think China will ride it through and remained strong, although won't grow very fast and healthy as before. I think another country that has done well the past 100 years is USA and still doing well, that's why they are both close rivals now. I see both of these countries influence, economic prowess will continue to be very strong at least until 2040.
脑子进水。
我没想到老外对中国这么了解😅
As a person who used to live and work in China for 3yrs (2016-2019) I absolutely agree. I was already aware of most of these facts, but it was very eloquently explained.
1:06 - 1:13 That's happening in most countries now. Especially In east Asia and the U.S. I doubt I'll ever have a family of my own. It just doesn't seem possible or worth it.
Working 996 AND having a family? No way!
You just have to figure out your priorities- I got married and am working on the kids because it was the top priority
same here in europe. prices are so high that we dont even think about families ... from insane apartment prices to insane kindergarten/school/university prices...
It is cool to know that there is some 27 year old in China that lives a completely different life than mine on the other side of the world, but they deal with the same problems.
3:27 Quote
4:43 Urbanisation
5:05 Hukou System
6:55 "China" shows Bali lol
7:06 9-9-6
8:23 unemployment
8:42 Over education problem
9:44 Lying flat, let it rot
10:44 Property development issue - financial crisis - Debt crisis, realestate crisis, banking
12:40 Population decline
đöń'ț håvĕ åńý šýmpåțhý öŕ ůńđĕŕšțåńđïńg föŕ čhïńå! ï ůšĕđ țö bĕ å čhïńĕšĕ åńđ ï wåńț țö țĕłł föłłöwïńgš țö åłł öf ýöů !:
țhĕ čhïńĕšĕ håvĕ ńöț pŕöđůčĕđ åńý ńåțůŕåł ščïĕńčĕ, šöčïåł ščïĕńčĕ, öŕ hůmåńïšțïč țhöůghț ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý.
čhïńĕšĕ čůłțůŕĕ ïš ńåŕčïššïšțïč ńöńšĕńšĕ, fůłł öf åńțï-hůmåńŕïghțš åńđ öțhĕŕ čŕåp.
țhĕ țwö bïg ŕůbbïšh țhåț čhïńå håš čöńțŕïbůțĕđ țö țhĕ wöŕłđ (ńöț łïmïțĕđ țö țhïš): čhïńĕšĕ čůłțůŕĕ (čöńfůčïůš țhöůghț, čhïńĕšĕ mĕđïčïńĕ, ĕțč.), țhĕ čömmůńïšț Påŕțý öf čhïńå (ččP).
țhĕ čhïńĕšĕ pĕöpłĕ håvĕ ńö hůmåń ŕïghțš ïđĕåš ïń țhĕïŕ ńåțůŕĕ. čhïńå håš pŕåčțïčĕđ țĕŕŕöŕïšm đömĕšțïčåłłý föŕ țhöůšåńđš öf ýĕåŕš.
țhïš ńåțïöń håš båŕŕïĕŕš țö țhĕ čögńïțïöń țö țhĕ wöŕłđ.
čhïńĕšĕ čůłțůŕĕ, ïš å bïțčh-łïkĕ čůłțůŕĕ !
ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý, țhĕý půț țhĕmšĕłvĕš țö đĕåțh ågåïń åńđ ågåïń, đůĕ țö țhĕ łåčk öf čöŕŕĕčț čögńïțïöńš åńđ mĕțhöđš.
ïń țhĕïŕ hïšțöŕý, țhĕïŕ öńłý šöłůțïöń țö šöłvĕ țhĕïŕ šöčïåł pŕöbłĕmš ïš țö måkĕ ĕvĕŕýțhïńg å mĕšš åńđ đĕšțŕöý, țhĕń šțåŕț övĕŕ wïțh țhĕïŕ čöčkŕöåčh-łïkĕ fĕčůńđïțý.
ĕvĕŕýțhïńg ïń țhïš čöůńțŕý ïš łïĕ, åńđ šhåmĕłĕššńĕšš, țhĕý čömpłĕțĕłý łåčk țhĕ đïšțïńčțïöń bĕțwĕĕń țŕůțh åńđ fåłšĕhööđ.
Whåț pĕöpłĕ ïń țhïš čöůńțŕý đö ïš åłwåýš šqůĕĕžïńg țhĕ ńĕxț gĕńĕŕåțïöń, šqůĕĕžïńg țhĕ böțțöm.
țhĕ čhïńĕšĕ kĕĕp pŕĕțĕńđïńg țhåț țhĕý åŕĕ å ńöŕmåł čöůńțŕý whĕń ïń fåčț țhĕý åŕĕ å šýšțĕmïčåłłý ĕvïł čöůńțŕý.
țhĕ čhïńĕšĕ håvĕ bĕĕń țŕĕåțïńg țhĕ whöłĕ wöŕłđ åš fööłš, kĕĕp šțĕåłïńg țĕčhńöłögý, måŕkĕțš åńđ jöbš wöŕłđ-wïđĕłý.
țhĕ čhïńĕšĕ åŕĕ å håŕđ-wöŕkïńg ńåțïöń, håŕđ-wöŕkïńg țö fłööđ țhĕ wöŕłđ wïțh țhĕïŕ čůłțůŕåł åńđ ïđĕöłögïčåł ŕůbbïšh.
ĕvĕŕý đåý ïń țhïš čöůńțŕý måkĕš mĕ fĕĕł đïšgĕšțĕđ!
@Pitch80 no
@Pitch80 opini yang luar biasa Lois
Bali now owned by China 😂
Ahh yes Bali is now rightful Chinese territory since some Chinese fisherman visited there in 2000 BC or something
This man is on a rampage to diss Asian nations 😂😂 but carry-on this series..
Vietnam, Saudi Arabia, Israel and Indonesia to be next 👍
If check his page, you would see that europe has been analyzed by him, so you're comment is somewhat out of date
@@DevilTidusX ok
@@DevilTidusX you know why I wrote cause I thought someone would cancel me and accuse me of being racist towards asian but guess people aren't satisfied in anyway 😂
@@aakarshmaurya2265 I literally hate it when people accuse others for being racist for being critical on the government
Hahaha I like that
Dark side of USA economic success would be great idea, not only capitalist effect upon share market and economy but also on people's live and governance
The USA's 'dark side' is blown out of proportion and is heavily exaggerated.
@@sxrkar_usathe homelessness though.
And busses
BLM!
@@oo--7714 everyone has homeless people,
I am Chinese, i dont agree with you! Situation here is a disaster, thousands of ppl died everyday bcz of pandemic, parties are play dirties against each other, millions ppl are struggling affording their food, car oil cost, but most of all, we spend billions dollars everyday on invading other, soon Iran will be the next...
Oh, sorry, i am an American...i forgot it...
I've been watching your series and it's been pretty interesting. I have a degree in economics and I learned how economic growth isn't a zero-sum game, it was a matter of right models and correct institutions, letting the market do its magic. But, nowadays, I'm really doubting if pursuing economics was the right call, because, in the development is impossible without exploitation. Creative destruction only works if the disadvantage bears the "destruction" while the privileged absorbs the "creative". The fact we rely in creative destruction to make humanity grow means that if it stops expanding humanity will decline and expire. Technological leaps don't really solve the fundamental problem of human nature.
Very true, so what is the solution my friend?
The economic problem is satisfying the unlimited wants of humanity with the limited productivity. Perhaps development of the supply side has been very impressive but at the cost of the poor. An alternative solution may be to reduce the demand side. Lying flat and letting it rot may be a viable economic doctrine to improve the demand side. Who says that we need to develop supply exponentially forever?
@@davidyang102 that's true as well. Ever ending supply is one big problem that need to be solved but the lying flat theory fails as well as it would eliminate jobs during the downturn leading to bad economic inflow for people who depend on these jobs.
thats where socialism and communism steps in, whether u like it or not, it can fix these issues. Obviously not socialism like China, cause thats hardly socialist from an economic standpoint at least.
@@Alex-sr9pq it would be great if there were more successful socialist or communist countries that gave their citizens a good life. unfortunately communism has a really bad record and socialism has Europe which is slowly decaying. I'm not saying these methods don't work in theory, but it hasn't worked in practise yet.
Something the video entirely misses is that China is still a developing country, not a developed one. That is big in relation to how it is deading with its issues.
It wasn't even developing but more agriculatrian. They lied and steal tech. A country or society like that would be doom for lack of innovation, other than how to steal better. The Chinese is like the Ferengi of Star Trek. Ferengi had one advantage.... no one knows where they live. China is one of the largest land mass and an easy target.
If you have the second highest GDP in the world you are not a developing Nation. They have a space program too. Developing Nation that's complete horse shit.
@@Havokx666 That's not how economics work, the USSR also had a big economy, but it still remain quite poor. Most of China is very poor, but poverty in china is consider under 1.50 dollars a day, or something like that, which is lower than the world standard. I can see that someone is completely ignorant about economics when they say dumb shit like what you just mentioned. Most Chinese people are very poor, the country has a GDP per capita as te average argentinian, nothing to brag about.
@@resistencialiberal9555 e claro q iria aparecer um liberoide falando merda em um video da china, aceita, liberal so funciona na cabeca de brasileiro classe media rsrs
同意
Morale of the story: There is always a dark side for each country in the world
I read a news article that was talking about giving citizens up to a 80 year mortgage yet facing a massive economic instability as is our economic instability here in America. Now as Mortgage goes here in America it's a complete mess
They're saying that China is collapsing every year tbh and most people don't understand the way China's system is structured.
i wear i heard these claims that china will fail and collapse for few decades now... but as we look at statistics they are climbing up and up, now becoming new superpower, leading world in so many tech and megaprojects thats its not even funny anymore, total dominance in many fields. this aging populations is problem in most countries today, and corruption etc are even higher in other countries.
Yeah no way it's gonna collapse in near future. They already built infrastructure that will promote internal business, besides that they already made world dependent on them by becoming world factory.
I'm loving this series. Please continue with Singapore, UAE, Israel also in Asia. From India.
Good job. Keeping doing the series of The Dark Side of Every Major Economy
Thanks again for an excellent video.
Awesome video, well researched
I fully agree with this excellent video...No economy is ever too big to fail. The world will stop lending or selling unless you the equivalent in Gold. Will you work for free? Of course not. You need wages but if your wages are in a collapsing currency, will you still work or will you flee?
Whether it is USA, Germany, UK or China, they all have to face the challenges.
Keep up the good work 🙂☺️
Correct me if I’m wrong, but I think the 25-30% GDP number also includes residential real estate investment rather than just real estate development.
Wrong only 12% is contributed to GDP growth not the entire GDP 😂
It would be interesting if you make a video about countries who haven't got out of the third world country list yet even after a century of independence - like the Philippines.
Wait. Philippines is no longer a third world country? How much did I not know and when was this?
@@mukhademonyo6449 you misread the sentence. I said countries who haven’t got out of the third world country list yet, meaning they’re still in the list.
@@asinglefrenchfry2983 ahh yes. Understandable have a nice day
Third world countries just means those countries that didn't side with usa or ussr
@@RealAryanGupta Switzerland? 🤨
Every country and its economy has got certain challenges. No-one is without problems. However, one must mind it's way and not mess with others rather than focusing on their own lives. That's what all superpowers do.
China's crash is different, even worse than 1990 Japan.
@@TheHolySpiritISgreat They always just print money like the Fed. But instead they are going for a controlled deflating of the bubble. It's quite an experiment.
Ok show me a superpower nation in history that only minded their own business and never gets involved with other countries
What a pointless statement
@@TheHolySpiritISgreat No, it was possible to buy the whole of America before the housing bubble in Tokyo, Japan. And now, if you add up the real estate bubble in China's entire first- and second-tier cities, you won't be able to buy the entire United States.
Great video
Well done
at 3:37 the highest increase in life expectancy was during the cultural revolution, I wonder why?
义务教育 医疗 和粮食的增长
Growth in Compulsory Education, Healthcare and Food
This guy is in love with dark side of every country's economy !!
Yeah I was thinking the same thing 😅. He finally found an outlet for his negativity... let your negativity shine ✨️
Well-Done & ?hows-abouts a playlist pls?.
Good video, a few gray areas missed , the eduction system in urban areas for FUTURE generations, appears very successful, it would be interesting to see if this has filtered into rural areas where uneducated Human Resources are returning as the construction jobs in urban areas are drying up and low repetitive manufacturing jobs are disbursed amongst other countries. Focus on rural regeneration is key, with equal focus on educating while rebuilding the rural sectors. It is the “ GAP “ that is the challenge it takes about 40+ years to bring in the new and out with the the old, and there is likely still 30 years on this time lapse, so filling the gap is key, and while better housing stock, regional employment,while re skilling is very doable, it will be interesting to see if the transition takes place, if China economy is strong the global economy will be better for it, as most countries are going through challenges of their own maybe different dynamics but a strong global economy hurts less then a weak and distracted one.
I knew this video was coming 😃
Love this series!
Informative
Dark side of israels economic success please 🥺🥺🥺🥺 :3
israel economic has a dark side?
robbing america lol
@@papiputra I think almost every country does
murdering thousands of Palestinians duh
I think your overworking point is important. I will also add cost of living. As earlier if a person worked more he would buy house,car etc more fast but now it will take many years no matter how much you work thus overworked body with high cost of living will be disastrous for future
Exellent video
Can you do 'The dark side of American economic success' next please?
Request an update pls.
PS: Sounds like the prelude to the Great Depression Chinese Style ;)
I love your video. So informative and sad :(
Urbanization has impacted the entire world. Most of humanity now lives in urban megaslums.
There is a time where you'll rise but when you become authoritarian, greedy,
and use threats to make you business partner to bow to you,
then a time will come you'll fall....
8 months later, review this video. Oh my, China is still not crushing yet?
This comes just as India is surpassing China in population too!
By the time millennials are elders, we might be relying on robots for our care because the world population has peaked by then.
Whatever happens in China next could be a repeating event in many large countries around the world.
It is the quality of the population that matters. Only about one percent of the Indian population is considered to be fairly-educated.
@@emmawang1999 In terms of quality India's average age is fairly young compared to China and thus working potential is more. And such data for 'fairly educated' doesn't exists, only amount of skilled workforce matters, so don't make statements that don't make any sense.
Far from perfect. It is a HUMAN society, bound to include defects and mistakes...
Being a STATE controlled economy and given its millennial history of ups and downs and capacity to learn from so many mistakes, I believe they will correct most of current ones...
China has been divided longer than it was unified under one authority. I think this is the start of a secession movement in China
The problem with China is that they'll have to admit they're wrong and give up power, they'd also have to Revive an industry that's moving tech to Japan and South Korea and mass production to Asean and India.
+ social credit
As a Chinese, I wants to tell you the Chinese problem is much more serious than you ever thought. You have no idea about Chinese people's respect for authority and money. Chinese people can never except from being judged according to wealth ,social status.When I was in junior school,our teacher huiliate one student's mother in front of all of us. He said that mother lives a poor life is because of her indolence on study and her son will lives sucking life like her for same reason. Also, he frequently beats students up and even caused permanent damage to a girl's face once. But,nobody dares to report his assaults ,because he is a teacher of ''rocket class''--the class with high enrollment quota.No parents wants their children lossing this way climbing to higher social ladder,then they pretend anything is not happend. Can't you imagine,he is just a teacher? Those simialr silence and indulgence to those with power result in extreme eagers to climb social ladder but also hates between people. Chinese are always natrually hostile to those better off than the and also humiliate those worse off than them.Enormous pressure has been on youngsters shoulders,and they literally are lying flat and unwilling to marry ever.
@@Klavier322 social credit will help the elderly population. Since China has a massive eating population, they are in need of social credits to monitor the elderly and examine and check out their health. At the end of the day social credit is not as bad as people think, if China had a young population then social credit would be terrible. But China does not have immigrants, instead they would rather have surveillance cameras and other than that medical devices and etc etc.
Social credits or African immigrants to take care of the 600 million elderly.
Who are the lenders to the developers?
On the contrary, Chinese government were aware of the systematic problems of its economic development model years ago. The real estate bubble is the result of the problems, not the root cause of a crisis described in this video. They had plans to reform the economic model but had to postpone due to global financial crisis in 2008, followed by European debt crisis in 2012. China had to continue relying on the real estate sector to boost its economy. The reform resumed in 2015 but the accumulated problems had got much worse over the years. They had to do it gradually. In 2018, Trump started a trade war and in 2019 there came covid. Therefore the reform progress is really slow. But this time China have determined to solve the problems. The government put heaps of controls to regulate the real estate market. We must know this so called crisis today is a result of a reform planned for years. Not the same as the real estate bubble in the US back in 2008.
Here you see a little pink in the wild of the Internet.
@@MrSky10101 Reasoning works better than labelling, so please don't spread the toxic culture commonly found in Chinese social network to the world or make it worse.
Wrong! Who made this mess in the first place? The greedy Chinese government, aka CCP, single-handedly blew up this enormous bubble. Now you are telling me, THEY are gonna fix the problem completely caused by themselves? As everyone knows, CCP is the only landowner and the only land supplier of China. You need land to build houses, right? Guess what, I will BORROW land to you, but you need to pay me, a lot - whatever I want!
Of course they knew such kind of BUSINESS wasn't sustainable, of course they knew it wouldn't end well, from the very beginning! Yet how could they resist the temptation to make tons of money for nothing?
Let’s hope you’re right 🤞
I mean, china is kinda a real estate Ponzi scheme tho. Just like america in 2006 (or 2022 but that’s a different story) Chinese buy up properties, sit on them for a few years and resell at huge profits. 1/3 of their economy is in the realty pyramid scheme and similar to the US in the mid 2000s (or the covid era) you can get really outta whack mortgages that don’t align anywhere near your income along with developers just slapping the things together (even more poorly built then the 2020-2022 American realty bubble homes). I mean hell Chinese homes are falling apart after 3-5 years. At least the crappier built American homes just have non right angled walls and poor insulation
The "lying flat" movement is highly exaggerated. It's a relatively small movement with no significant social or economic impact.
Good quality vedios. Very impressive. I'm quite impressed by your insight of Hu Kou system in China. I think the desire for people to move to bigger urban cities and own their house is the major motivation for Chinese people to work hard in the past dacades. However in recent years, the young generations start to realize the impossibilty of owning houses in tier-1 cities such as Beijing and Shanghai, they are more willing to rent (the gross rental yield is not very high in China). This shortage of housing demand are pushing down the housing price. And you are right, the housing bubble is problematic in China and one of the biggest property developers (Evergrande Group) is facing bankruptcy.
As a Chinese, I know what you said is quite true and precise.
Great movie .
good video yeye but uh… the thumbnail is makati, philippines no? 💀
Rockwell center
@@KingGamer-fd8ek shanghai
Could u do one on Russia? Thanks
Quality vids
Excellent video. Really curious if china can pull out of this
this video only shows very little of the dark side，actually there are many facts that would hurt the economy that Chinese should really concern about
Yeah like the massive corruption, the unpredictable regulations and the growing state-owned companies in the market.
Please make video on dark side of Canadian Economy
I appreciate thiss gigantic country effort. every country should learn from china
But put so much effort in Realestate and Infra that it became a Giant economic bubble
感谢你们保卫了我们光荣的中国。 五十美分已存入您的银行帐户。 我们将期待未来的合作。 中国共产党光荣！！
@@jxxxxx44 weirdo. I like China. Deal with it.
@@vivianaugusta3000 and I hate CCP (I like China, too).
The lack of pauses between slowly enunciated sentences are extremely taxing on the ears. Great content tho.
Hope about US economy related to oil price and middle east war
Every economy is affected by the price of oil. I'm not sure what you mean by "middle east war".
Yay, My wish came true, you read my comment 😀, thank you, now I love this channel.
Another sad reality is China's one child policy. Read a book on this written by a Chinese American female news reporter who traveled to her ancestral home and spoke to people. They felt the dissonance of a one male who has to take care of his aging parents all by himself, there aren't enough women to marry, etc.
Also found a vid produced by BBC about the one child policy and there would be women doctors in villages who would monitor the women residents as to how many times she became pregant, when they missed their periods and how many these women doctors performed abortions.
And the video too
A successful country exit
Him :
Dark side of the _____ 's miracle
I love your video thought they are very informative and detailed
👏🏿 give me the great video, your video is non-biased. I thought your video would be biased, but it is not. Awesome
I enjoy your videos and main reason is you bring up some balanced view that does not contain politically motivated agenda on either side. Please do one on dark side of US as our crap smells just as much as other countries. US is on track on demise of any other empires that have existed in the history of mankind based on common symptoms.
While America does have problems, they are nothing serious as this.
The main problem in China stems from economic issues, whilst its social issues in the U.S.
Surprisingly, social issues and political division can easily be fixed as opposed to catastrophic economic issues that China is currently experiencing.
@@sxrkar_usa the USA is a country of military economics, guns and voluntary idiocy.
@@garygraham8373 Thats a very one-sided and uninformed view of the country, but okay.
@@sxrkar_usa The key here is how the Chinese fix problems. Whereas the US uses broad measures to fix problems like interest rate cuts, the Chinese can fix problems on case by case, family by family level. As such, they can be much more targeted in their response. This is why you have been hearing about their collapse for twenty years, but yet they never seem to collapse and instead show growth YOY.
@@sxrkar_usa America has it’s share of economic issues. China’s problems are far worse no doubt.
As Indonesian, please do Indonesia version!
Wow🎉🎉
I noticed you did not mention President Nixon's visit in 1971 inviting China to play with the rest of the world.
The IMF left unchanged its forecast for China's 2024 growth to fall to 4.6% from 5.2% in 2023, with a further drop to 4.1% for 2025. But it warned that the lack of a comprehensive restructuring package for the country's troubled property sector could prolong a downturn in domestic demand and worsen China's outlook
Everyone focuses on chinas future demographic problems, but South Korea and Japan have those way way worse right now
But nobody's touting Japan and South Korean as the world's next superpower though.
i would say that japan will slowly move on with new reforms also after covid more foreigners enter japan and people also slowly move to countryside while korea is still falling off
The difference is that South Korea and Japan are very wealthy countries and China isn't.
@@BiggieTrismegistus China has the highest GDP ppp, what are you talking about. Their pql measures have skyrocketed.
Overall great Video.
As an Expat living in China, I've actually seen a different side of it and this is my take on the issue.
*Housing crisis, YES. As of developers over speculated on the continuous rise in prices. I totally agree that this is a major problem when the economy and as much as 1/5th of it is dependent on it. But let's bear in mind that we are talking about a developing country.
*Housing costs? Unless you decide to live in the city center, like Shanghai or Guangzhou or maybe an exclusive private Fenced and guarded areas the overall prices are fairly low, just move further away from the CBD and the prices drop.
*1 child policy and preference of baby boys has had a devastating effect. Now the government is encouraging its citizens to have more babies. Male to female ratio is way off too and some unfortunate ones resort to buying brides from other Asian countries. Also the expectation before wedding put pressure on young couples, such as the Groom needs to have his own house and so on, otherwise the brides family might outright refuse to let their daughter into this marriage.
*Salaries are lower then in Western hemisphere but it's a wrong comparison as the cost of living is way cheaper too.
*Education. I've seen it also in many European countries, I could claim that it's a world wide problem. Young adults after getting their degrees think that after graduation their life is set. Sorry kids, it doesn't work like that, to land a good job you actually have to put some effort into it, earn it.
I've seen old retired guys and women here to hard manual work while their College/University graduated grandkids sit at home and play video games. They don't want to work in these jobs, they'd rather be a delivery guys ... easy work, no hard labour. The question remains, who's going to do these job say 10, 20 years from now?
*Purchasing your first home. Same thing again, worldwide problem for anyone under the age of 45. I'm no exception to this, sadly. But it hasn't stopped me from from living in Nice places. Owning my own home that's still a dream though, maybe one day ...
As a developing country China has yet to undergo many hurdles the West has gone through. I'm not going to bash it or start saying that the west is bad, all countries have their pros and cons.
I know that people in the US in particular will start saying...Oh no, China is this Communist Utopia Jada Jada Jada... Well sure the governmental structure might be different to yours but the people are just people who want to live their lives in peace, no different from say average Joe from Colorado (by the way, I loved that place when I visited it a decade ago)
I've seen many great developments in this beautiful country and there's still many things that ought to be improved, only time will tell.
Don't make up your mind by watching your mainstream or even alternative new channels, it's all tailored by your governments to their citizens consumption. Don't even take my word for it, as it's my experience.
You want to see a country any one in that matter, go there, meet the locals, see it for yourself and then make up your mind about it.
Our eyes are windows to our world.
A good advice to anyone whether in China or elsewhere around our Blue planet. If you want to improve your way of life, start by improving yourself. Don't sit on your Uni degree and wait, do something about it because No-one else will do it for you.
Great and organised point of view, hats off!
So you can't have an opinion about a country's economy unless you've been to that country? You don't have to actually go to China to know the economy is not in great shape.
Do a video of Dark side of the United Kingdom
What goes up, must come down.
This is something that some of us saw coming. I lived in China for close to 12yrs and still in and out till now. I first lived in Handan a small city near Beijing when I was teaching english, then moved to Gz the 3rd largest city in China. I like it a lot there, thou nowadays I prefer to stay in 3-tier cities not the big ones like BJ, SH, Gz & Sz which are too crowded. You can clearly see the kind of pressure the society goes through. The cost of living has skyrocketed and has forced some factories to move operations to cheaper countries like Vietnam, Laos etc. Owning an apartment reached another level and young people have a lot of pressure, studying too hard to get high grades, job hunting, then marriage in itself is another one. It gets difficult if you don't have a good job, business or own an apartment. Then there's a new class of ladies who have lots of money and don't wanna get married coz it's hard to get men of their class/ status and by the time they want to settle down it's a little late. I actually see life going back to the countryside, where the pressure is less.
The sad thing is that China's economic collapse will effect us all
How?
@@misterbig9025 All the goods made in china, since many companies set their factories in China (including Apple)
Do you actually believe this bullshit?
@@misterbig9025 well. when you need to become a 1 year old western bot to earn a living say it all.
@@misterbig9025 Globalization
Jp Morgan CEO Jamie Dimon: we may be headed something worse than recession....We are living in the early stage of economic impacts of superpower rivalry.
Still it's an amazing country and very high tech country.
Nope.
Yes. In fact, China is actually doing very well at the moment.
But you'll probably never hear about this in the western media.
@@bartroger7620 cope
@@niggtube4482 Just the truth(?)
China is not a "very high tech country". All their technology is just copied from the West because they can't create anything on their own.
Hahah great video I do think he went a bit far in trying to predict what the end game may be, I may not necessarily like the present leader for China because of his imperialistic ambitions. But Chinese are a smart and discipline people. I think a bit more than us in the west.And because of the government structure they should be able to address a lot of these issues before they get to that level he is expressing. Great content through
@@nerd2544 I want to agree with you to a certain extent. I hate what capitalism has become for us .Too much greed just too much men.The east is too imperialistic and controlling Your points are on target We have come a far way but still has some ways to go yet bro
What a stupid generalisation
Why is Taiwan on the Chinese map in the intro???
It’s interesting but you forgot to mention about
the massive amount of foreign investments and business partnerships that China is expanding around the world. China is also the biggest trading partner of more than half of the countries on earth. And of course, US exports ideologies and wars, meanwhile China exports consumer goods.
China's biggest exports are homemade viruses
China also exports police stations to other countries because the CCP needs to oppressive its citizens even when they're not in China.
There's nothing special about the Chinese economy. It's just like any other middle income country and that's an odd thing to brag about.
The Chinese. A great bunch of lads.
You missed the investment aspect of the housing market. Given the high rate of scams, real estate was considered the safest place to keep your money, especially because the housing market had never crashed, so no matter how Terri me the property was, you would turn a profit. Home ownership is also considered a prerequisite for marriage. This is part of what allowed the flourishing of the tofu dreg construction and ghost cities.
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Everything too good to be true tend to actually be, to good to be true.
Asia's story is always on repeat. From incestuous companies in Japan to Chaebols in South Korea to China's CCP destroying the economy for fear of losing control. It appears they all have the same trend. That is, not allowing the proper free market systems to weed out the bigger failing companies or how structures of control either out of a rigid Cultural structure perspective or from a rigid government perspective. These factors prevent them from properly moving these economies forward.
Yep, it's as accurate as you described here in China, but not nearly as bad compared to Japan yet lol.
Yea well it’s been a year since this video and I don’t thing China is facing its downfall and in fact it’s only getting stronger so yea…
I’m pretty sure Chinas economy is slowing down
lol this guy is so out of touch
QUESTO È UN VIDEO ECCELLENTE!
The video precisely summarizes the chronology of events that led to the current state of the economy of the People's Republic of China.
That said, the mentioning of the growth of Hong Kong and Macau should be deleted. Comparing 1962 Hong Kong and present day Hong Kong does NOT contribute to your point about the growth of Communist China. Any growth in Hong Kong during that period likely occurred under British control; has nothing to do with the policies of the communist government of China
Sure, if the British control were so good, why would British itself be imploding? British, once the sun never set, is now degenerating into oblivion.
@@emmawang1999 read my comment carefully. I commented that the change in Hong Kong since 1962 (as shown in the video) has more to do with Great Britain than People's Republic of China. If you wish to make a general comment about the condition of Great Britain, make it elsewhere; it has nothing to do with my comment.
@@jckbquck Briton had colonies all over the world. Tell me which one turned out to be as prosperous as Hong Kong. In fact, almost all of them were as poor as you could possibly imagine because the British was only interested in robbing more out of them.
@@emmawang1999 Australia, New Zealand, , Singapore, Canada, the United States. It's "Britain"; not "Briton".
Jealousy runs so deep that no yellow peril shall prosper it seemed
so basically Japan and South Korea, all over again
现在中国大城市里996已经落后了，都变成了007😅
USA is currently facing a *huge* debt and banking crisis. China isn't.
Silicon Valley Bank and Signature Bank are just the beginning.
Anytime there’s ever the slightest implication that China isn’t 100% perfect, there’s always a load of whataboutism people saying “well America this and that”, defence mechanisms of bruised fragile egos on full display
You're incredibly ignorant if you think China isn't dealing with huge debt and a banking crisis.
I'm not sure why you're talking about the US anyway because this is a video about China's economy not America's.
Many lifted out of poverty. But who made more money govt made more money than common people.the salaries r so low compared to west only if this changes then all those docs and engineers will be duly rewarded and deserving Indeed.they should fight for this growth rather than govt just building more and.more buildings and high speed railways
We are so close infront of a 🤏 big war or something Else but for sure it is not a good thing that will happend.
Ah yes, Dark Side with Dom
Philippines next pls
Great review about China dark side well done dude 🤔👍
Blame the Laying flat movement
Your analysis of China’s economy is up to points, but you did not mention the cost of official corruption that has drained the economy, some estimated to be 25% of GDP.
You be fine in most of the western world.
US house price as compared with median income is practically the lowest in the world (4.3) as compared with China (33)or Vietnam (24) (Source Numbeo) In other words, it is practically impossible in China (I know many personally) to even dream of owning an ***apartment*** ( not a house as in the US).
No wonder 155 million people globally dream of living in the US. How many people want to move China even if given the chance?
I'll make a 10k dollar wager with anyone. All these youtubers are trying to be the next sage of economics and finance by predicting the Chinese economic collapse due to failures in the housing market and culture. None of them understands any of the fundamentals that the Chinese system is built on and why it won't fail. Disagree with me? Think I'm some Chinese bot? Then take me up on my wager. Watch this video again. Then watch the dozens others just like it. They all use the same stock footage of isolated incidences as if it's some country wide epidemic plaguing the country. Any brave gamblers out there? I will be happy taking your money. We can decide a time frame and play it like shorting a stock.
care to at least elaborate?
@@nerd2544 bots don't elaborate
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