Why China's Economy is Finally Slowing Down

[@zukaro]

Reminds me of Canada's housing and innovation situation. The money gets tied up in low risk real estate instead of risky innovations, and thus Canada becomes a technological laggard and slowly falls behind the rest of the world.

[@anthonydpearson]

Australia as well. So much money tied up in real estate (it's SO common for regular families to have multiple 'investment properties') and as a result the country is an innovator in exactly nothing.

[@PlaystationMasterPS3]

it appears that housing is a common and serious problem that demands a solution. how do you cheaply house people in quality housing without ruining your economy?

[@eksbocks9438]

​​​@@anthonydpearson And real estate isn't supposed to be a "Get Rich Quick" scheme. A lot of people in the past did it just to supplement their income. Especially if you're just renting out Single-Family homes. In contrast to owning a big apartment building. Something happened. Where the corporate folks got more involved in this scheme. Plus the property taxes, zoning laws, and lack of rent control.

[@alphachicken9596]

@@PlaystationMasterPS3you treat housing as a public utility instead of an investment vehicle.

[@tmonie]

Housing has to stop being an investment wealth generator.@@PlaystationMasterPS3

[@jimsackmanbusinesscoaching1344]

The other part of this that is missed is that local governments were funding themselves via land sales. They can't sell land if the real estate market is in trouble. Worse still they put this money towards GDP growth which many times consisted of infrastructure projects that are not delivering. This has piled up debt for local governments in an uncontrolled way.

[@Skr0ng]

And

[@BkNy02]

Yeah. I heard the local governments are turning to fines to generate income. The police will sweep through a neighborhood in the middle of the night to find parking violations. Sometimes even creating those violations by removing parking spaces. There are whole neighborhoods with little to no parking now. And remember that China is a cashless society so people are being charged as they slept.

[@_Wai_Wai_]

The debt is probably owned to Chinese people, plus the Real estate bubble popping is a needed correction. Unlike the US gov't, China's gov't will not bail out bad businesses.

[@anarchosherman961]

You cannot deliver a profit eternally, you people are nuts.

[@jimsackmanbusinesscoaching1344]

@@Skr0ng The reason that this is important is that GDP growth as stated in China (which the CCP has admitted is flawed) includes the local government spending on these infrastructure projects. This creates a set of double trouble for the PRC. Problem one there is a ton of oddly configured debt through LGSV's (Local Government Special Vehicles) that is not accounted for. In some poorer provinces, the entire budget of the province is spent on servicing this debt. So, there is another large debt overhang that is not accounted for. Problem two is that these governments can not fund these GDP projects if they can not sell land. This will directly impact GDP statistics.

[@Keenath]

Any situation where the only people buying homes are people who already own multiple homes is already broken, it's just a question of when that actually hits the companies where it hurts.

[@andresgarciacastro1783]

Over 90% of Chinese own their own home. Look up what it is in your country. You might be surprised.

[@doltecbyal]

Agreed!

[@mitchellb4551]

cough cough a large percentage of university town housing and vacation rentals

[@Uaene]

Yeah because housing in the West is doing so well 😂😂🙄🥱

[@Remi_lulz]

​@@Uaenehe never said there wasn't ccp bot

[@Default78334]

As I used to explain to people, these property developments were basically giant concrete bitcoins sold to Chinese investors who didn't see any better options for preserving and growing their wealth.

[@alibushell6762]

Sad to think that in this instance just sticking the money in a bank account would have been better. If that's your only option your economy really is tanking.

[@Pulstar232]

@@alibushell6762 the problem with that is that a LOT of the money in china stored in banks are in shadow banks(e.g. madoff investment securities). And those banks also went poof because of the crashing real estate + stock market. The stock market also crashed a bit(I think it's somewhat recovered now). Unironically you may have been better off keeping your money in your pillow or something.

[@ChucksSEADnDEAD]

Uhhhhh so was the whole crypto hype propped up by Chinese money from people trying to invest in a country where they had limited options?

[@nomoreemperor-i1m]

Actually, most people are forced by the government to buy.😢

[@peterisawesomeplease]

@@alibushell6762 Yea but then you don't get any returns. The real issue in China is that only property had decent legal protections from just being seized by the goverment randomly for its own ends. This is unlike the stock market which is almost completely under the control of the central government. This incendent reallly shows the importance of property rights to long term economic health.

[@DorathyJoy]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

[@Hectorkante]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@PaulKatrina.]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst

[@ScottKindle-bk3hx]

Could you possibly recommend a CFA you've consulted with?

[@PaulKatrina.]

My CFA ’Sophia Maurine Lanting , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@BellamyGriffin19]

She appears to be very knowledgeable. I discovered her online profile on google and read through her resume, educational background, and qualifications, which were all very impressive. She is a fiduciary, which means she will act in my best interests. So I scheduled a session with her.

[@elRandomTk]

This is a sincere suggestion, I paused at 10:00 when you were going to talk about the 'how' but not explained the true 'why' the Cjinese people were buying so much houses. As an investment yes, but the deep reason is that China has not developed other ways to invest, for middle and high class. A wealthy Chinese can't invest in the financial market for example, thus housing market became the way to do it. Just an addition, I'm a big fan of the channel, even this video's production value is top notch :D

[@Ushio01]

They can invest in the stock market the average Chinese person just doesn't trust it whether it's to many Chinese companies caught lying or the government cracking down on them. So they invest in housing which can never go wrong lol.

[@hari-po1fv]

why can’t they invest if you can explain please 😊

[@elRandomTk]

@@hari-po1fv it has to do with the control of totalitarian government, they tried to have a stock exchange, it did not go very well because it had restricting rules (I don't remember exactly eedit: I somewhat recall the government wanted to determine the value of important stocks beside market laws) they decided it was not worth it and basically prohibited it for the masses. I'm not saying adopting western model would have been better, but it is true that the people needed a way to use the money they got from the booming economy

[@butterfingers8]

There is stock market in China...

[@phlogistanjones2722]

@@hari-po1fvThe government owns ***everything***. There is zero TO invest in. If you want to start a business or manufacture a product you must seek permission of the state. Private investment is forbidden. You can put your money in a bank account or buy property. That is it.

[@jacquesmassard9226]

Evergrande opened a EV company cause china would pay the companies for each EV even if they didn't sell the car to anyone. that's why you find videos or tons of fields of EVs in china that nobody is buying.

[@qdhfhwiwiir]

Basically everyone I know owns one now, priced around 90000 rmb. Interesting fact, eu as the most sustainability enthusiastic group, now don’t want EV anymore even though it does good for environment

[@Sam42069]

@@qdhfhwiwiirFrom what I understand, EU is a trade bloc so it has its members economy at its highest priority. China can make EVs faster and cheaper than European manufacturers so they will likely implement tariffs to help protect members car industry’s (China EVs sales taking away from EU EV sales). Seems to me like an economic > environment sort of thing

[@henli-rw5dw]

@@qdhfhwiwiir That's super cheap, $12,500. Average American car price is $48,000, 4x your car price.

[@Homer-OJ-Simpson]

@@Sam42069 Yes, you can't fully go all in on just environmental concerns -- economic and security are very important as well.

[@Homer-OJ-Simpson]

@@henli-rw5dw But the $12,500 is for a super cheap EV that doesn't fit all the regulations of most or all western countries. BTW, the lowest cost EV in the US is actually $29k and that doesn't include any government rebates.

[@kyriakoskrommydas3903]

to be fair, the average salary in China can not be easily compared with other countries since there is a major gap between the rural and urban areas.. that gap is not that much profound in most other countries..

[@sibaraku2023]

It is not a China problem, it is a developing country problem. Once and if they resolved that. They will be developed countries. On the other hand, bigger and more gaps in the developed countries will turn them back into developing countries. The western countries are developed because of war and colonization, not democracy. The democracy actually makes Western countries weak in competition and will make them lose to authoritarian countries. It is a sad reality.

[@ThatGuy-bz2in]

they compared incomes to housing costs. China's are the worst in the world.

[@guillermogutierrez3845]

@@sibaraku2023 What evidence do you have to support this claim?

[@sibaraku2023]

@@guillermogutierrez3845 The human history.

[@TheGallantDrake]

​@sibaraku2023 uh... I think your knowledge if history is inaccurate.

[@JohnSmith-rw2yn]

3:30 this can be said of a lot of the world, here in the UK you can have a company own the frehoold of several 100 acres, they then sell the leasehold to a housing developer, who, once built, can lease it out to a management company, but also lease on 100 years more/or less individual plots to the public. In London you can often go 3 or 4 leases before you get through the entire chain.

[@katrinabryce]

And in England (Scotland has a different system), freehold means you are granted an indefinite right to occupy by the King. So it is basically the same as China. In Scotland, you actually own the land, but there is no practical difference.

[@PM2024-]

not the same, wu mao

[@alasdaresineaeris2772]

The real estate investment craze was real. The Chinese were known to buy up and hoard apartments in Hong Kong where demand for housing is always strong with supply being limited due to land issues, causing the already insane real estate prices to go up even further and exacerbating the problem. A lot of these apartments weren't inhabited and everybody knew they're for investment. Adults learned of it first-hand and teenagers studied it and the related politics at school as housing is still one of the most pressing social issues in Hong Kong.

[@lzh4950]

Was interested to find out why there meanwhile isn't so much talk about whether HK is facing the danger of a property bubble too that could lead to a financial crisis

[@alasdaresineaeris2772]

@@lzh4950 What I can say is real estate prices have been falling because hundreds of thousands of wealthy citizens are leaving, so supply is up and demand is down at the moment. Real estate is surely unaffordable to many, but the demand is still real, so I think it's not as dire as what's described in the video. It helps that the Hong Kong market and the Chinese market are still somewhat segregated

[@sor3999]

Real life cryptocurrency and just as worthless in the end.

[@Morphil-n8x]

land issue is created by Hong Kong giant financial corps (who lobby the gov) that hold the lands and won't develop into housing knowing that demand far exceeds supply in order to keep the housing price high and avg person tied up

[@boricuadetorontocanada]

That real estate chunk of China's GDP is crazy 😂

[@jdatlas4668]

Wait are you muscling in on PolyMatter's territory? :p

[@universalsorrow]

you know they're part of the same conglomerate right? they're all part of nebula

[@alexanderwalls4466]

Holy shit… totally thought that was PolyMatter’s until about two mins in. Then I was like “wait, hold on” 😅

[@triadwarfare]

​@@alexanderwalls4466i think Wendover came first. Regardless, they do compete in the same type of KZbin documentaries and their style is very much similar.

[@bibby3027]

i literally thought this was a polymatter video until he started talking 😂

[@hamzamahmood9565]

Turns out many channels can cover big world news

[@_Zekken]

This is happening in New Zealand as well, at a smaller scale. Housing is being all bought up by investors or people looking to make money at an increasingly large rate. The value has balooned far outside the actual utility value of the proporty. This is compounded by many extra cases of chinese buyers of course who were buying our property up the same way the video said they bought theres, from overseas, and leaving them empty up until the govt banned overseas buyers in 2017. But those already bought houses are still there, and still empty. The bubble is going to burst at some point, and its gonna be a shitshow

[@CMDKeenCZ]

It's happening all over the world. Certainly here in most of Europe, and I hear the same tales from the US and Canada, and parts of South America even. Investors buying up property and driving prices ever higher, and mostly leaving it empty of course. I lived next to a 5 story apartment building owned by someone from Russia. It was empty the whole time I lived where. Apparently it since got sold to someone from Saudi Arabia, and is still empty. Honestly the Spanish Ocupas movement has the right idea, moving into these investment properties that are perpetually empty like that. It's a shame that investment is still considered more important than the right to housing.

[@billyhopkins10]

The New Zealand housing market already crashed during COVID….. but it’s already taken back all it’s loses. On average in NZ during 2021 houses lost 138k of its value, approximately 18% decline to the market. Are you sure it is a balloon when it already crashed, “deflated” so recently?

[@KRYMauL]

@@CMDKeenCZ One would think that they would have tenants, but I digress. How History Works made a video on this basically we're entering the end of a 400-year-old cycle, except this time it's the cities that are getting more expensive.

[@AubriGryphon]

@@KRYMauLFinishing out a building and renting it out is costly. The buyers don't want to own a building, their only goal is to sell it at a higher price to someone else. It's pure speculation, and the fact that the object in question is a building is hardly relevant. It might as well be a stock, or a baseball card, or a ... you know, one of those tokens that attracts the bots if you mention it.

[@Bruiser223]

Will the bubble burst though if our population keeps growing? plus you cant build a new house for less than the price of buying an existing one so why would house prices go down?

[@matheusp572]

I love the videos but starting to find the background music distracting. It’s not the first time I’ve noticed that, but this time was the worse. It should not be nearly as loud as Sam’s voice

[@salaciouscrumb]

Background music clipping, very distracting.

[@jcstua]

@@salaciouscrumb agreed, I thought my headphones were broken until I read this comment

[@faceboy1392]

yea the main issue is something was messed up with this background music, not edited right and so was distracting

[@urektus69]

There's background music?

[@hkgamma]

Wait, there's a voice there? I thought I've heard someone speaking, but I didn't understood anything... that music...

[@Kannakin-x3p]

Those graphs were beautiful and extremely easy to understand. I just had to say that.

[@cool_things_collection]

This is only part of the truth. Only in first and second-tier cities in China can housing prices be very high, and in small fourth and fifth-tier cities, you can buy a house for only 100000 yuan. The decline in housing prices is beneficial to the lives of ordinary people

[@jielichen1890]

买不到 三四线城市也需要100-300万 rmb 10万人民币在中国不可能买到房子

[@aldridge9886]

东北广西河南贵州​@@jielichen1890

[@NaAnn-gg9fp]

30-50万的房子也很多，取决于在哪个城市

[@nechoji]

@@jielichen1890 他说的大概是县城里的首付，县城里大概15万首付的确可以买到，总价一般在40-60万。 三四线300万太夸张了，除非是沿海的三四线。

[@Riki_tiki_tavi761]

Controlled demolition is accurate

[@jon9103]

I'm not so sure about the controlled part, they are good at controlling the narrative but they can't hide everything and from what little leaks out, it's pretty doubtful that everything is going well behind their cracked facade.

[@seymorefact4333]

🤣🤣 the US con-my is COLLAPSING! people are realizing T bills, NYSE, real estate, and social security in the US is a HUGE PONZI PYRAMID con to enrich the 1%!

[@H33t3Speaks]

All to prepare the population for a draft. Mark. My. Words.

[@Homer-OJ-Simpson]

It hasn't been demolished but they are preparing to burst the bubble at some point.

[@UniDocs_Mahapushpa_Cyavana]

Why go to war against opponents better at ruining themselves than you? @@H33t3Speaks

[@troyarrington5492]

13 years to fully buy a house in NYC? That sounds a little low…

[@bakedbeanfanclub]

It’s a raw metric of income over cost - it’s useful as a comparative tool between cities, but he’s not suggesting that it would actually take the average person 13 years to buy a home. If you add in other parts of the equation like local interest rates and cost of living, it becomes a somewhat less useful tool in the scope of evaluating real estate costs

[@rfwhyte]

Average vs. median. Had they used the median income the figure would be a lot more realistic.

[@booradley6832]

All of those statistics are something you cant take as hard fact because of the amount of variance in them. Does average salary include the people making >50 million a year who just happen to have an apartment there but dont actually live there? That pulls the number up. Does it include some of the satellite areas where property value is severely diminished compared to the best areas, and the high rises listed for several million for an apartment as part of the calculation? Without being able to look over the data its just a "give you a rough idea of the disparity" figure, which I appreciate and find appropriate to use but would not parrot as fact in other conversations.

[@Bananoker]

Sure it's probably higher, but the point of the statisic in the video is to show how unaffordable major urban Chinese real estate is. New York City is expensive, but it isn't 40-45 years to buy a home expensive.

[@seymorefact4333]

🤣🤣 the US con-my is COLLAPSING! people are realizing T bills, NYSE, real estate, and social security in the US is a HUGE PONZI PYRAMID con to enrich the 1%! Bernie Madoff...said the US con-my is the LARGEST PONZI!

[@charlocharlie]

The crunchy and distorted background music is mega annoying in this one. Go easy on the normalization plugin.

[@aaroncarson]

Yeah something really broke here. Watching on Nebula and came to find the KZbin version specifically to see if anyone had mentioned it in the comments 😂

[@elmeato1741]

Shit I was already googling for new headphones

[@theadamfontana]

I mentioned this in another recent video, it's so distracting I don't even want to watch.

[@Gav_Jam]

Yeah this is true.

[@himarei]

This, and the sibilance in the voice is only getting worse. Each "s" is like nails on chalkboard, I can correct it on my EQ but it's annoying.

[@darktitan8085]

Thanks for showing all the info with the least bs, no clickbait, no shouting random pieces of info on the screen so as to force the viewer to take your words without trying to question you; while still making the video really engaging. This is why your channel is worth following.

[@vukbajic4904]

No clickbait? This is THE clickbait. Every month this guy uploads a video saying how China is going to collapse

[@thecornmonger]

​@vukbajic4904 the last time he uploaded a video about China was over a year ago, very easy to check

[@darktitan8085]

@@vukbajic4904 nah this channel is far from that chief Just search china collapse, you'll find other channels uploading that crap and barely having any bit of content in them. Its like the same kinda channels which keep having videos about stock market crashing when the index goes down by a whopping 2%. This channel is far from that.

[@ArawnOfAnnwn]

@@vukbajic4904 I think you're confusing this channel with Business Basics.

[@Doomer_Optimist]

Idk if it's clickbait but his analysis is extremely narrow. Chinese GDP growth started slowing a decade ago, way before evergrande folded. This video was just a rehash of the evergrande crisis which is hardly an unexplored topic, and it's not the main reason growth is slowing.

[@ArchOfWinter]

Companies like Country Garden also have incomplete foreign development. If the domino starts to fall in China, it will drag South East Asia along with it. It may not hit as hard as China, but it will hurt.

[@lzh4950]

It also betted big that Malaysia's Johor state's Iskandar region would become to neighbouring Singapore what Shenzhen, mainland China has become to HK, by reclaiming ~14km^2 of land to build Forest City to supposedly house 700000 people eventually, but looks like sales have stalled after both Malaysia & China changed their policies; the former to no longer grant PR automatically to foreign homebuyers, & the latter to make it harder for their citizens to bring money out of the country

[@王佳兴-s6q]

中国强的是制造业，金融泡沫远远低于美国。因为现在出口还是多余进口，外汇有盈余。。。外国人眼里中国是不准确的

[@Dr_Larken]

2:51 I made it this far in the entire two minutes and 51 seconds I was waiting for the phrase “Now, it’s time to learn how money works”! I’m pretty sure because of the voice!

[@WillieFungo]

Do these guy use AI voices or is this a human?

[@callummcneill6266]

@@WillieFungoits a human. You can see him compete in JetLag the Game. His name is sam and he also runs Half as Interesting

[@Dr_Larken]

@@WillieFungo he’s human! So is the channel I’m talking about (How Money Works)! But I understand where you’re coming from!

[@vsznry]

he may have that channel too @@Dr_Larken

[@Dr_Larken]

@DontReadMyProfilePicture.273 ha jokes on you… Я не умею читать! Was jetzt Mein verzweifelter, Aufmerksamkeit suchen Freund

[@GenkiGanbare]

"Chinese residential spaces were as cramped as a kitchen in an American family home" Millenials living in Boston: "hey, like me!" "The Chinese paid 1-3% of their income in rent" Millenials living in Boston: ................

[@Homer-OJ-Simpson]

Boston avg home still much bigger and the income:rent ratio is still more favorable in BOS. But there are some similarities.

[@Nainara32]

Maybe Gen Z. Millennials are mostly in their 30s and 40s now and the older cohort actually has some decent wealth accumulated.

[@zebapervaiz3733]

​@@Homer-OJ-Simpson Hong Kong u mean .

[@PeiyangZhangD]

Sorry? 1-3% of their income in rent? Impossible. Most my Chinese friends pay half of their income in rent.

[@TheStretch35]

If possible, please address the music audio issues in videos. I've been noticing with newer videos that it's becoming louder than it was originally and that the quality of the music is also really bad. It has distortions and clipping making it more noticeable to the point it's becoming distracting from the topic being presented.

[@Susanhartman.]

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[@Grace.milburn]

People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

[@ThomasChai05]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@mariaguerrero08]

In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.

[@mikegarvey17]

@@mariaguerrero08Could you possibly recommend a CFA you've consulted with?

[@mariaguerrero08]

My CFA ’Izella Annette Anderson’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@evandpeng]

just fyi, multiple video clips (both archival and modern) you use in this video are of hong kong and not mainland china

[@jon-michaelsampson1120]

Hong Kong is China now

[@saltmerchant749]

I mean, the central government of China are doing their level best to economically and socially ruin Hong Kong too.

[@matthewmelson1780]

No one caress

[@2003LN6]

@@matthewmelson1780 I do and the commenter does. 2 ≠ 0

[@chucklebutt4470]

why would that matter in the slightest? the b-roll is just there to give your eyes something to do while you listen to the narration.

[@BradLancaster86]

when ever the traffic in the stock footage changes to the other side of the road, that's footage from a different country, HongKong or even Taiwan. places separate and distinct from china (at least until 97). if you see kodak signs your in HongKong, if every car is suddenly a subaru leone your in Taiwan.

[@CantHandleThisCanYa]

Cool story.

[@Marahute0]

Don't care

[@董宇飞]

视频上是二十年前的中国，滤镜也用的那么旧

[@QuietJugung]

I noticed 😂

[@danmeimei]

My uncles in China were given some money from the government for house renovations in their rural seaside village. The shops, parks, and facilities there were greatly improved as well. I'm guessing they want to make the villages look more attractive for domestic tourism and for city folk to consider moving into them, to spread out the dense population centers.

[@elliotlewis9333]

I doubt they'd want to spread out the dense population centres, major cities are more economically successful. Probably they just want to promote domestic tourism to keep money inside the country. The only real reason they'd have to try and move population centres are for water resources and to have non-port cities.

[@kannon1610]

I wish the music on Wendover videos was much quieter. It feels too foregrounded and I dislike feeling like my emotional response to nonfiction content is being led by a soundtrack.

[@lynb1022]

This is the best historical explainer I've seen so far. I think most of us in the West know about China's "meteoric rise" but only in the abstract. I didn't realize how recently most of this happened and to what degree. It's stunning. It also helps explains why Western economies around the world followed China's lead - and "investor" greed - unfortunately believing that unrestrained property development would only ever increase in value without factoring in the vulgar debt-bubbles created by it and eventually negatively affecting the entire economy.

[@danielsmithiv1279]

In a nutshell, China is not the great rising superpower that we have been deceived to believe. In truth, China is a nation that is about to completely fail. Their entire financial system was built off hyper debt they knew they couldn't pay off; their economy is powered by imports containing resources that China's geography doesn't have--resources that are only possible to obtain because of the Order; and China is suffering a terminal demographic collapse. Now that the Order is collapsing, oceanic free trade is soon coming to an end, and China has no real navy to protect themselves from what's coming next--nor will they be able to bring in enough imports to maintain their current population or make enough adults in time to keep the ceiling held up as they ran out of adults years ago. They're done. A massive famine is coming. And many are not going to make it.

[@danielsmithiv1279]

In a nutshell, China is not the great rising superpower that we have been deceived to believe. In truth, China is nation that is about to completely fail. Their entire financial system was built off hyper debt they knew they couldn't pay off; their economy is powered by imports containing resources that China's geography doesn't have--resources that are only possible to obtain because of the Order; and China is suffering a terminal demographic collapse. Now that the Order is collapsing, oceanic free trade is soon coming to an end, and China has no real navy to protect themselves from what's coming next--nor will they be able to bring in enough imports to maintain their current population or make enough adults in time to keep the ceiling held up as they ran out of adults years ago. They're done. A massive famine is coming. And many are not going to make it.

[@danielsmithiv1279]

In a nutshell, China is not the great rising superpower that we have been deceived to believe. In truth, China is nation that is about to completely fail. Their entire financial system was built off hyper debt they knew they couldn't pay off; their economy is powered by imports containing resources that China's geography doesn't have--resources that are only possible to obtain because of the Order; and China is suffering a terminal demographic fail. Now that the Order is collapsing, oceanic free trade is soon coming to an end, and China has no real navy to protect themselves from what's coming next--nor will they be able to bring in enough imports to maintain their current population or make enough adults in time to keep the ceiling held up as they ran out of adults years ago. They're done. A massive famine is coming. And many are not going to make it.

[@russellwest8767]

Edit: I am misinformed about this; my impression apparently didn’t take into account post COVID shifts. Leaving my original post because I said what I said, but I appreciate people correcting me because I’m still interested in the topic ----- As the video alludes to, the property bubble problem is happening, perhaps on a smaller scale, in large cities across the western world. I would be genuinely interested in a video covering that as well. Manhattan development is currently full of enormous sterile condo buildings with hardly any permanent occupants

[@overwatch8848]

those are just airbnbs 😅

[@sairenrysten9795]

Not really, the property issue in the western world is actually the exact opposite of China's. Most european capitals have had housing issues since the 80s-90s and the end of state controlled construction companies. The market in China has a very high supply, the supply in europe is almost non existent. People who would sell dont because they'd lose money since people can't afford higher prices due to interest rates, so the market are extremely stagnant, prices dont go down while they should & housing (whether rent or property) is real issue for more and more people.

[@hamzamahmood9565]

Property crisis in America: not enough houses. The exact opposite of China

[@PlaystationMasterPS3]

this is true, but at least there it was caused by covid-19 forcing businesses all at once to finally get on with WFH and the land could be reused to build residential buildings which are in demand. a new york state law allowing dense housing without parking minimums on any plot zoned for offices would help a lot

[@The_Lone_Aesir]

@@sairenrysten9795 In the US, and i think candada, its a mix of both. There simply isnt enough supply and most of what is getting built is either earmarked to large investors or gets gobbled up by large real estate companies. to make matters worse is that they will idle some properties, deliberately keeping them vacant, to boost demand (and therefore price) of their other properties. The annoying thing is that these idle properties are technically still on the market and accepting applications. Its just that none ever get approved yet the people applying still have to pay the application fee which can range 40-100 USD each. This basically enables them to offset the cost of leaving it vacant and accureing property taxes.

[@ClaireLee-e2t]

Because China has moved past the stage of rapid development and is now shifting towards a phase of high-quality development, this is quite normal. All countries go through this process.

[@m2heavyindustries378]

HIGH QUALITY DEVELOPMENT????? Oh wow how much Koolaid DID you drink for the Chinese government?? How well did they pay you to write this?

[@nath1607]

You never went into just why the Chinese central government specifically went after the housing sector, which is kind of pivotal to the entire video. A house is a home, not an asset to generate income. Not just to the situation in China either, but speculative house buying as assets that are effecting cities and countries world wide.

[@kortyEdna825]

The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@Joebiladen159.]

Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

[@p6v665]

epater la bourgeoisie

[@chrischeng9145]

For anyone stupid enough to read this like me, this is a bot. Ignore it

[@InOtherNews1]

What the fuck is this bot bullshit. Guys, report this and move on

[@dargonfei]

房子一直从95年涨价到16年，21年的升值。难怪人们认为不会掉价

[@vasilyc.1998]

Imagine hearing about the upcoming China's collapse for 20+ years and still believing it... Meanwhile their economy grew tenfold.

[@dangshnizzle6929]

Slowing down feels like an understatement looking at the ripple effect Evergrande will still have

[@BeartoothCurious]

So what I'm getting from this is Polymatter face reveal on next season of Jet Lag!?

[@heidirabenau511]

Nah, it's been revealed Toby is coming back next season.

[@takigan]

I love the "finally" in the title. As if to say "It's about @#&*ing time China! Why you gotta scare us like that?!"

[@marw9541]

I think it's more of a "we've been seeing China collapse for 4 years now, are you finally going to admit it China?" lol

[@yuey0602]

@@marw9541 actually China have been collapsing for 20 years or 40 year even 70 years... and it have been collapsing to No.2 economy in the world... if not No.1 by PPP measurement.

[@marw9541]

@@yuey0602 ahhh, someone that has their head in the sand 😊 have a nice day, I can't educate people like you unfortunately

[@yuey0602]

@@marw9541 👍👍👍

[@darthvadeth6290]

​@@marw9541 4 years? Gordan Chang has been predicting the collapse of China for 30 years now 😂😂😂

[@esotericcommonsense6366]

Oh the Chinese told a company to fix their shit, let them fail, forced them to liquidate, repaid creditors, and sent people to jail? That's crazy bro. *People that lived through 2008 in the US scream internally*

[@Patyad]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@Victoria3ee]

Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.

[@MandyMoore-ie7jw]

​@@Victoria3eeI'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.

[@Clara-o3v]

​@@MandyMoore-ie7jwDo you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my portfolio and plan my retirement

[@Patyad]

​@@Clara-o3vThanks to ALICE LEE CHEN FINANCIALS

[@Patyad]

She's a licensed broker here in the states

[@jon9103]

"Might not get it back"😂 More like "almost certainly won't get it back" Even a loan from a trusted lender like the Fed has a risk of default so you might not get it back. That's what "might" implies, possible but unlikely.

[@echsecutioner]

Great content as usual. One small (constructive) criticism: I found the background music to be a little too loud or rather distracting in this one. Would have preferred something more subdued.

[@kgogganss0]

First documentary I’ve watched in a while that actually educated me, instead of stating the obvious and leaving the fundamental drivers of an issue unexplained. Well done

[@snowcoalRC]

An actual good video on this topic. Most people are quick to say "China is collapsing" or whatever, but thats just not whats happening. A "Controlled Demolition" like you mentioned explains this perfectly.

[@petergreen5337]

❤Precisely well said

[@BiggieTrismegistus]

No, that's exactly what's happening and calling it a "controlled demolition" makes me wonder how in the world you define "controlled". China's economy is absolutely collapsing.

[@RonTodd-gb1eo]

A luxury apartment built on the site of a pesticide plant. I will give that one a miss.

[@youngc0930]

As a Chinese, I can say that you are right in the end of video that economic prosperity is the foundation of CCP’s ruling. But ur narrative about the bubble is a bit simplistic.

[@DR-iu3pe]

You are one of the few reasons I still go on YT, really looking forward to your Rumble channel going live

[@ruifenghuang1029]

When you say slowing down as in 5% growth, it's much higher than Japan in the 70s or South Korea in 2000s

[@Ardiantothehulk]

but coming from much lower baseline

[@ruifenghuang1029]

@shade45.55 Go check Korea GDP per capita in 2000 and Japan GDP per capita in 1970.

[@cesarmurph]

The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.

[@YearousMona]

They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.

[@theTeslaking]

I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centred on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.

[@michaellaw321]

this is all new to me, where do I find a fiduciary, can you recommend any?

[@theTeslaking]

My CFA Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@michaellaw321]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@djsapien3448]

"Houses are for living in not for speculation" - Xi Jinping

[@QuietJugung]

Surprised he didn't mention this key point.

[@tedzehnder961]

The problem is that the average Chinese don`t have any safe investments they can invest in to make their money grow. Even a bank account may not be risk free. Is this comment by Xi leveled at the local governments,banks and developers who made it happen in the first place? Or is it Xi`s way of telling the people to spend their money some other way.

[@Corredor1230]

As shady as the CCP can get, what they did here with the housing bubble seems to make a lot of sense.

[@bobs_toys]

​@@Corredor1230except that it needed to be done 10 to 15 years ago. Instead, the CCP spent that time getting its shills to say that there was no problem, and everything was just western propaganda. Just like they did with the one child policy.

[@yibiaowang1]

@@Corredor1230 Yup, they HAD To pop the bubble. It was either they do this kind of hard landing or a total crash years down the line.

[@bubuneowoo6161]

1990. The Economist. China's economy has come to a halt. 1996. The Economist. China's economy will face a hard landing. 1998. The Economist: China's economy entering a dangerous period of sluggish growth. 1999. Bank of Canada: Likelihood of a hard landing for the Chinese economy. 2000. Chicago Tribune: China currency move nails hard landing risk coffin. 2001. Wilbanks, Smith & Thomas: A hard landing in China. 2002. Westchester University: China Anxiously Seeks a Soft Economic Landing 2003. KWR International: How to find a soft landing if China.. 2004. The Economist: The great fall of China? 2005. Nouriel Roubini: The Risk of a Hard Landing in China. 2006. International Economy: Can China Achieve a Soft Landing? 2007. TIME: Is China's Economy Overheating? Can China avoid a hard landing? 2008. Forbes: Hard Landing In China? 2009. Fortune: China's hard landing. China must find a way to recover. 2010. Nouriel Roubini: Hard landing coming in China. 2011. Business Insider: A Chinese. 2012. American Interest: Dismal Economic News from China: A Hard Landing. 2013. Zero Hedge: A Hard Landing In China. 2014. CNBC: A hard landing in China. 2015. Forbes: Congratulations, You Got Yourself A Chinese Hard Landing.. 2016. The Economist: Hard landing looms for China. 2017. National Interest: Is China's Economy Going To Crash? 2020. Economics Explained: The Scary Solution to the Chinese Debt Crisis. 2021. Global Economics: Has China's Downfall Started? 2022. Cathie Wood: China's COLLAPSE Is FAR Worse Than You Think. 2022. Business Basics: China's Economic Crisis, GDP is Crashing, Protests Everywhere. China's financial crisis is Here. 2023. The National Interest: Is This the End of China’s Economic Growth? 2023. Business Insider: It’s official: The era of China’s global dominance is over.

[@GuyLogen]

And yet they keep growing, with the potential of AI boom and China being the world's largest manufacturer of electronics, I doubt that they are gonna slow down their growth. They just need to find new ways to adapt.

[@yuluoxianjun]

this sounds aged

[@Jabullz]

No matter how dire the situation or damming the evidence. Wendover will never openly criticize China. That's the real power of the market. A substantial amount of clicks and views must come from that region.

[@renatlottiepilled]

Oh yeah, just so you now the Financial Times just reported that Chinese economy grew 5.3% this quarter, exceeding expectations

[@nenasiek]

1. Its slowing down 2. China has been accused of fixing the nrs

[@saketsuman8319]

Just so you now know, China reported that the chinese economy grew 4.7% this quarter, below their expectations of 5%

[@ChristianBehnke]

What is going on with the background music? It’s almost constantly clipping and distorted even though the volume is low.

[@AnotherAvaibleName]

Ah, finally the "two more weeks" video you'd eventually needed to do.

[@2005batman]

So, this time Wendover drew the short straw. Well, someone had to tell us “bad China collapse now”.

[@shinchan-F-urmom]

China has been collapsing since 1970s lol

[@Vual29]

The music choice in this video is crazy! Definitely set a unique tone.

[@WrathOfThePharaoh]

Thank you for this, it's refreshing to find a non-clickbaity, non catastrophising take on the topic (and thank you too for not screaming in the thumbnail!)

[@Linda.xing-tj2fh]

Its gonna have some significant implications, especially for global markets

[@louisahernandez]

Greatings from the Uruguay, Yeah, I've been following the news. China's economy has been a powerhouse for so long, so any signs of slowdown could ripple through the global economy.

[@roseyfischer]

That's concerning, especially for those of us who have investments tied to China or rely on Chinese imports and exports for business.

[@Andres_853]

Exactly. It might be a good idea to reassess our investment portfolios and see if there are any adjustments we need to make in light of these developments.

[@louisahernandez]

Agreed. It might also be worth considering seeking advice from a financial advisory firm.

[@Andres_853]

Do you happen to work with any, that is very reliable

[@quietiger1288]

Superb quality! Well structured and informative.

[@hebneh]

The crazy thing is that we KNOW how all this happens because it’s occurred again and again throughout history all over the world. And yet it happens again and everyone’s shocked and astounded.

[@CensoredMercy]

10:25 the first two rules is a crazy benchmark on how much risk there was lol

[@TraditonalUSA]

Really dude, citing NPR and The Associated Press? Take this Dislike. Those "Networks" do not have a single shred of journalistic credibility or integrity. You should be embarrassed.

[@TraditonalUSA]

@AdamBrzozowski-df3gz lol, as if fox news is any different. All state sponsored.

[@AzyumardiSuntana]

Anyone else waiting for Wendover's take on the current Boeing crisis?

[@heidirabenau511]

Already done a video on it

[@Kin-28-8]

The continuously changing economic conditions in our society have made it necessary for thousands of people to find additional sources of income. Personally, I am looking at the stock market to fuel my retirement goal of $2m, my concern is the recent market crash.

[@Agatha.wayne0]

buying the dip has proven to be profitable although for majority, the solution to their problem can be found only in specialized knowledge hence they seek guidance from well experienced advisors

[@Michaelparker12]

Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.

[@berniceburgos-]

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@Michaelparker12]

Jessica Lee Horst is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@Lewistonwilliams-f5i]

I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.

[@muraliv80]

This was beautifully narrated - Kudos!!!

[@TheReubenShow]

I love you, Disembodied Voice. Thank you and the team.

[@zobenny8290]

When the per capita income reached US$15,000, almost every country slowed down its pace of development because the economic base was already very large.

[@dontcomply3976]

Middle income trap

[@andresgarciacastro1783]

@@dontcomply3976 Thier PPP is 22.000

[@ZxZ239]

Didn't China hater said it was like $5000 or something? When that was reached the number became 10,000, when that was reached the new number now is 15000? Let me guess when 15000 is reached the new number will be 20000?

[@hermenegildoc3933]

Spain had a similar issue

[@chosonmediaarchive8254]

I agree. Spain had a economic boom with construction

[@dennisestradda9746]

Spain is just old and the pensioners will be a burden to the youth

[@CantHandleThisCanYa]

@@dennisestradda9746they should consider MAiD

[@s9ka972]

​@@chosonmediaarchive8254 Conditions in Spain is far worse than in China

[@chosonmediaarchive8254]

@@s9ka972 similar

[@jamiekirkland2474]

I would be interested to see where Canada lands on that house price:GDP graph.

[@DK-ev9dg]

Down at the bottom

[@jinxedpenguin]

Probably pretty rough. Canada housing prices to per capita GDP is depressing, it’s even worse than California.

[@bachmai1844]

Vancouver was in the charts

[@alexanderx33]

The reason they opened up was because of economic crysis and viral attenuation. Not because their measures had finally worked. They basically stopped hitting themselves.

[@torstenpersson2058]

Very interesting and very well presented.

[@xboxsteven]

10/10 video absolute banger as always top 3 favorite yt channels.

[@phil20_20]

Why is Country Garden not on your list of top 10 real estate developers?

[@chongkf2220]

If this is the case, please brief all the western Politicians, no need to worry about China progress and growth. No need to publish or report China economy. For sure, nothing to worry about China technology advancement but I am puzzling why the top USA Politicians so worry about China challenging its position if China economy is slowing down and based on Anglo Saxon media analysis China is not going to do well in future.

[@bobs_toys]

Because the more people believe things are just fine, the more damage the PRC does on the way down.

[@jacksmith-mu3ee]

​@@bobs_toys source ? Proof ?

[@bobs_toys]

@@jacksmith-mu3ee of what, exactly?

[@thestype]

I've been to China some years ago. I felt humbled, because I expected a country below western standards and was surprised with a society which has been leveraged from poor to tier 3 and tier 4 life of quality in the hundred millions within the last decade. Whenever I see these dark prophet videos about China (for six years I'm aware of it) I think: maybe some fellow westerners need these infos to be fed, so they feel satisfied with their economic stillstand.

[@nenasiek]

I think China has gotten 100 million ppl out of poverty but go outside the big cities u will see real poverty. Singapore did it better, theyve lifted up the entire country not just a small portion of the population and overall land/territory

[@thestype]

@@nenasiek Singapore is a popular example I used in the past as well. But if you look at singapore you have to look at Hong Kong, Macau, Shenzhen. Because city districts on key routes behave differently than a large country. The same applies to the US, France, Italy etc.

[@UltraStyle-AI]

I love your channel, you do a great job explaining things.

[@CantHandleThisCanYa]

1:59 : I would like to point out that *housing is actually an infrastructure investment.* Just like roads allow people to get to and from their job, houses allow people to have somewhere to sleep, keep their clothes, food, etc. ALL of which is all necessary in order to go to work and be a productive member of society. Housing is not a commodity, it is literal infrastructure. Modern humans need water and electricity just as much as they need housing.

[@pervertt]

Housing is a very poor investment if you build more homes than what the market actually needs. You can't call it infrastructure either if nobody lives in the thousands of unfinished apartments.

[@kizume9349]

yall been saying this for 30 years

[@ZaklnGritch]

Oh it's slowing down? I thought it crashed like a year ago and they began living in post-apocalyptic conditions by now.

[@atharvatar]

The real estate sector has crashed, not the whole economy ❤

[@ZaklnGritch]

@@atharvatar Alright thanks maybe we'll see the results of these catastrophies soon enough

[@atharvatar]

@@ZaklnGritch we are seeing the results already since the gdp growth rate has slowed to 5% and the FDI had turned negative in the third quarter of FY 2023. Otherwise the country is going to be functioning normally and its not gonna break apart

[@ZaklnGritch]

@@atharvatar I thought it would destroy the country honestly but thank you kindly for all the information you've provided

[@MeidoInHebun]

@@ZaklnGritch Why did you think it was going to destroy the country? Because some CIA-funded youtube channels told you so time after time?

[@owentill]

“Evergrande embraced a uniquely high-level strategy”, nothing warms the heart like high-leverage strategies ☺️

[@MicheleMarthaler]

I really like this video you are explaining more and slowing down with your tutorial - you're doing a great job helping us all. Do you do live trade so we can watch and trade along?🐻

[@joshdeeney8456]

The Chinese economy has been collapsing, neigh, in freefall, for 25 years. How does it keep going?

[@yopyop3241]

Debt. Implicit debt. The CCP’s unspoken promise to prop up real estate prices.

[@rainlord137]

@@yopyop3241 "CCP’s unspoken promise to prop up real estate prices." When did they said that lol? Xi: Housing is for living not speculating

[@yopyop3241]

@@rainlord137 What part of the word “unspoken” was unclear?

[@rainlord137]

@@yopyop3241 sounds like you are making sh*t up. I'm Chinese you can't fool me lol

[@yopyop3241]

⁠​⁠​⁠@@rainlord137From the video: “The Chinese social contract- unsaid, but always understood- is that individuals sacrifice personal liberty in exchange for common economic prosperity. … If Xi Jinping can’t deliver his end of the bargain- if the common economic prosperity wanes- then the question in everyone’s minds is why they should have to deliver theirs.” Allowing property values to fall to the level supported by their fundamentals = allowing PRC citizens’ life savings to evaporate into almost nothing = Xi Jinping can’t deliver his end of the bargain = failing to live up to the social contract = justification to overthrow Xi and the CCP. That amounts to an unspoken promise to prop up real estate prices.

[@iphone3gs96]

This pairs nicely with asianometry’s video on country garden

[@reliableprepper]

Another Great Video!!!

[@DK-ev9dg]

This is anti China propaganda

[@thecheesestickmaniac]

i love how simple ideas can create complex macro economic issues. everything thats going on here makes intuitive sense if you were to map it out with beans. its all cause and effect - straight forward in a way that i love, but lots of unintended consequences. interesting but very complicated

[@the_derpler]

These guys can build entire cities no one lives in. Yet here in the US trying to build an apartment building in my city is harder than going to the moon lol.

[@xBINARYGODx]

Not sure I understand that weird line about "nobody chooses" since that is true everywhere.

[@NorthernSea121]

This is twice as interesting

[@deep.space.12]

9:40 _cough_ crypto _cough_

[@scotfugger9373]

Thank you. I have heard so much about China's real estate bubble over the past few years, but didn't really understand why it was so big. This was much better than in the news.

[@okfun54573]

Fun fact: China's exports increased 10.3% in the first two months of this year.

[@bobs_toys]

You misspelt irrelevant.

[@Marc-.]

@@bobs_toysholy shit bro why r u so triggered, commenting on every single comments calling out this channel, r u autistic or something

[@demit007]

America and countries in Europe have experienced similar situations, when manufacturers of shoes, clothes, home appliances, etc., flocked out of those countries. Korea and Japan have also experienced the same thing. But the situation did not make these countries experience an economic crisis or bankruptcy. Why? Because it is a matter of competitive advantage, comparative advantage, and a matter of ordinary market mechanisms. If it is now starting to happen in China, it is indeed time for China to experience a similar transition after years of mass low-wage labor-based industries. When China starts producing airplanes, electric cars, superconductors, etc. it is just a necessity for a country that has entered the "advanced" level. Selling 1 airplane is worth more than selling thousands of shoes from a dozen shoe factories in the Ningbo area. That's also why America can still able to compete with China in term of GDP etc, even though the low-labor manufacturing industry left America many years ago.

[@Tdzzz450]

Another 5% banger 😂 make a video comparing US UK GER now

[@brotherbig4651]

Compare income per capita😂

[@Tdzzz450]

@@brotherbig4651 might as well compare cost of living and social safety nets too!

[@MasonPapenbrock-my4gl]

10,000 views in less than 20 mins. well done

[@rogersnick17]

Your videos are masterclass. Liked.

[@vercingetorix444]

Ehh

[@zebapervaiz3733]

Nope

[@simonlb24]

In a lot of cases where new cities have been built, the local farmers have been forced off their land so the apartment blocks could be built and then promised jobs and accommodation once the construction has been completed. However, there are no jobs suitable for the farmers in the new cities, and the rent for their shiny new apartment is way more than they can afford so they can't live there. One other major issue with all these millions of empty apartments is that the quality of construction and of the materials used is absolutely dreadful, so that in less than five years the buildings are literally falling apart. It won't be long before we start to see partial or even total collapses of some of these apartment blocks.

[@ctwpoco-oy6wu]

China's urban migration was engineered by the government. They wanted to create mega cities and basically "forced" the rural villagers to move to the cities. You have to remember that individuals do not own land in China. All the land belong to the government. The government has the sole right about what they want to do with the land.

[@MaRaX93]

China has been "about to collapse" since 1999 😂😂

[@AlternateGM]

Fascinating and educational video, thank you!

[@huayan601]

The main reason is that China is experiencing an economic and technological war launched by the United States and the West.

[@thinkbigcharomariano]

Informative. Thank you