Special thanks to Public for making this video possible. ❤️ 📈 Get up to $70 in free stock! ➡️ public.com/EconomicsExplained

@mframedeye37

2 жыл бұрын

EE, can you do a video on organisations or regions such as East African Federation etc.

@link12313

2 жыл бұрын

The thumbnail has a typo. It should say built not build.

@jegerslvjegers5380

2 жыл бұрын

Over the top protectionism? EU increased tax on non-EU imports from internet shops. Now even a few cent products will be taxed (before under 22€ was tax free, no need to enforce procedures regarding paying the tax).

@trentclark2061

2 жыл бұрын

Can you provide a little more info about the 'up to' $70 in free stock and fund with 'as little' as $1 I couldn't find and detailed info on the link. Thanks :)

@redhidinghood9337

2 жыл бұрын

The thumbnail, shouldn't it be 'built' not 'build'?

Is it just me, or is the entire global economy basically a house of cards?

@solaroid4442

2 жыл бұрын

It's a giant ponzi.

@l-y-d-s

2 жыл бұрын

It is. Value is created by speculation on future profits. The entire economic system is built on having endless growth on a planet with finite resources.

@bee5440

2 жыл бұрын

And therein lies the root issue of capitalism

@solaroid4442

2 жыл бұрын

@@bee5440 Governments coercing big corpos to do their bidding, giving them free money while legislating their small competition out of the market is somehow capitalism's fault.

@danklegosi6084

2 жыл бұрын

@UCx9OE9wFJsBp8xL3ThEqSrA it's not capitalism it's globalism. And the U.S. economy isn't even capitalism it's a free market,so f off

Australians should be the most worried considering how much of their economy is built on exporting to China especially raw materials.

@andriod8014

2 жыл бұрын

No need, they got the US who would buy up Australia exports.

@rreinehr1

2 жыл бұрын

Yes, no, kinda. June ‘21 monthly stats were total exports $41B ($19B from China), imports $28B ($7B from China) and a $13B monthly surplus. China goes we’re bugged short term but it won’t be the end of the economy. We’re taking steps to diversify as quickly as we can and leave the ball in their court. Terms are now cash and carry…

@nathancloete9932

2 жыл бұрын

@@andriod8014 The US already has all the natural resources that Australia produces.

@jackkelly6890

2 жыл бұрын

@@nathancloete9932 Yes but it's cheaper to get it from Australia. The UK has a ton of coal still but we import from Aussie land because it's cheaper

@nathancloete9932

2 жыл бұрын

@@rreinehr1 What percentage of total exports per year goes to China? About 36% according the last full year stat I can find. That's not even taking into account the Services Industry. How much Chinese money is invested in services e.g. Chinese students at Australian Universities, Tourism, Banking, Insurance??? If China tanks it's taking Australia with it.

I am shocked that how accurate you were , every details from social to politics to economy now has turned out to be correct in hindsight. I was already subbed but now i will watch your videos regularly. ❤

Great video! Actually published before Property problems in China, especially Evergrande. One child policy that was implemented in China for decades now heavily burdens China as well. If you don’t get married and your parents are old, you need to support 3 people in Asian culture (yourself and 2 parents). If you get married and have a child, then 2 adults have to support up to 7 people (the 2 adult themselves, a child, 2 parents and 2 inlaws). That’s a huge drain of time and resources!

@dagfinissocool

2 жыл бұрын

I have a question about the on child policy that would require too much research.. Do you know if the population of China has decreased in the last decade? As people have died and only one child from each set of parents get to live.

@albertohernandez3487

2 жыл бұрын

@@dagfinissocool I Believe that is a problem but also the male/female ratio as the last time I heard it was like 8/1 I only heard this so some research is required

@JohnJohn-bf7lh

2 жыл бұрын

@@dagfinissocool the one child policy started in about 40 years ago, and china’s population doubled during the period.

@dagfinissocool

2 жыл бұрын

@@JohnJohn-bf7lh I just checked my own country and the population hasn't even close to doubled in the last 40 years. I feel like China has been lying to us..

@caitiff52

2 жыл бұрын

@@albertohernandez3487 That ratio is only in the major industrial cities like Beijing and Shanghai, or maybe Guangdong. Its because more males leave home to work in the major cities than females. The actual ratio for the country is more like 51:49, but that 2% swing represents 37 million more males than females.

This video aged really well, with Evergrande's news recently

@wizard7314

2 жыл бұрын

Yep, that's what brought me here.

@joneywins

2 жыл бұрын

What happened? (Excuse my ignorance)

@kaiwenyang2866

2 жыл бұрын

Lots of information is not even close to truth...

@FredrikHaugen

2 жыл бұрын

@@joneywins Evergrande is China's second-largest real estate developer and it's drowning in debt. If it doesn't pay its obligations within this month it could go bankrupt. Most problably take a lot of other real estate developers with them. Millions of Chinese would loose their investment. It would make any other economic depression look like a stroll in comparison.

@senorblancosenorblanco

2 жыл бұрын

@@FredrikHaugen "Lose"

I would love to see you cover Lebanon's ongoing economic collapse. Our currency is now 5% its value. My painstaking savings, worthless.

@colatf2

2 жыл бұрын

Lebanon pulled a Venezuela? I didn't know about that, wow. I'm sorry to hear that

@Jan_Iedema

2 жыл бұрын

I know it must sound meaningless coming from some lad over in Europe but I hope you manage to recover. I’m sorry

@bassemb

2 жыл бұрын

​@@colatf2 Yup. Lebanon continues to hustle for those infamous records. Top 5 largest explosions, top 5 most expensive telecom, top 5 hardest economic collapse... stuff like that. Right now we have electricity about 2 hours every day. Fuel shortages mean people are queueing up for 3+ hours to refuel their cars, if they're lucky. Hospitals are short on essential supplies, like vaccines for children. Fuel & electricity crisis means some medical centers are having to shut their doors and ditch patients that will die without respirators or life support. On and on.

@paul6925

2 жыл бұрын

That sounds horrible. Heard a little bit about it after that awful port explosion. Hope things get better for you. Most of what I know about Lebanon is from being keen on archaeology and pre-history.

@glorioustigereye

2 жыл бұрын

At least you aren’t Gaia online, now that is an economic crash. Fight on man.

The problem of “laying flat” is all too familiar to me, and I’m not even Chinese. When wages don’t increase but costs of living do month after month, its hard to muster motivation to work. My question is what can be done about this.

@crillianmarvin6256

2 жыл бұрын

Remove the shitty govt regulations. Listen I hate trump, but there is no denying the economy grew. Every bracket of the economical ladder saw an increase. And all he really did was slash back govt restrictions. Which Biden reinstated as it was an executive order (which I detest any president using them.)

@SzymonSaysStuff

2 жыл бұрын

@@crillianmarvin6256 bruh I'm not even american

@crillianmarvin6256

2 жыл бұрын

I am providing a solution that had visible effects. Not saying it would work for your nation. Economics is a complex beasts. Consider it a nugget to research and mull on and reach your own conclusion should you be so inclined to do so.

Well the timing of YT recommending this is impeccable.

If _lying flat_ is considered a form of protest, I have been a peaceful rebel for most of my life, for at least about 18h a day. :D

@domphilbrick

2 жыл бұрын

Wait… 18 hours? You test mattresses for a living? 😂

@pauln6803

2 жыл бұрын

So less of a Black Panther party activist as a lazy tabby cat protest?

@domphilbrick

2 жыл бұрын

@@TheFalseShepphard They’re dying to make a difference

@yipwinghei

2 жыл бұрын

@UpNorth lying flat statue?

@frankartanis1290

2 жыл бұрын

Lying flat is not being lazy though. The main idea is more like minimalist for life: the society sucks, I'm just gonna hang in there, but nothing more. Some people are putting more effort into Lying flat. One guy (the same guy who really popularized the idea of Lying flat) developed a system to nurture Chlorella in water as his food source, and claims that "I will never starve as long as there's sunlight". What did he do? He calculated that the nutrition (excluding sugar) to sustain one human for 1 day needs to come from one 2L bottle of Chlorella, which takes 4 days to nurture. In order to keep up with consumption, you need to nurture more than 4 bottles simultaneously (he was gonna prepare 8). Problem is, by the time when you have consumed the first 4 bottles, other bacteria in the water have also reproduced to the point that the Chlorella water is not potable in the other bottles despite the fact that he has preemptively disinfected the chlorella. Therefore, you need to speed up the production. By his calculation, every bottle needs to receive at least 20hr of sunlight per day. So he installed: 1x 50W LED fill light, 1x smart switch with programmable timer, 4m^2 of reflective plastic film, 1x aeration fan, 1x aquarium air pump, 1x thermometer. All these allow him to lie flat. Here's a video: kzread.info/dash/bejne/e3mmm5WxhtjAo7Q.html

Yep. Well said. I live in China. Old people are essentially extremely low paid workers who work very hard. I doubt the younger generation would take on those roles

@brianyang5075

2 жыл бұрын

I’ve visited China a few times, the wealth equality is so extreme from an outside perspective. The poorer families or middle class is limited to 1 child while paying rent. On the other hand rich families with government connections have 3 or more children driving BMW.

@bign3ck

2 жыл бұрын

A few punches to the face and they'll do anything.

@BigVic13

2 жыл бұрын

@@brianyang5075 We see this inequality in over 70% of the countries in the world.

@kaimanyu586

2 жыл бұрын

@@brianyang5075 There's is no one child policy anymore in China.. Furthermore 1 child policy only applied to Han Chinese, there are 56 ethnicity groups in China, many people from rural area's often had 2 or 3 children and they weren't rich or driving BMW's. You think paying rent is weird? Do people live for free in other nations? Looking at your name, you seem to be Chinese... How come you know nothing about China? One thing I dislike most is when Chinese spread fake news about China...

@mayanksingh0044

2 жыл бұрын

U in China on youtube........ Sure. Just continue doing this

Always interesting to find a level headed video about an issue before things really blow up.

Hey! We haven’t seen any new content in a while. I need my explained fix regularly you know. Keep ‘‘em coming!

I like how you encouraged people to verify any piece of data provided.

@user-wb7ez9ud4p

2 жыл бұрын

But let's be honest, who does that? Basically no one.

@yeetyeet7070

2 жыл бұрын

@@user-wb7ez9ud4p and the ones who do just click the first link that supports their world view

@markovmily6950

2 жыл бұрын

It's a clever way to avoid backlash over getting things wrong

@zachmason868

2 жыл бұрын

EE has had a lot of backlash for making up false conclusions on his channel before.

@yetekt8025

2 жыл бұрын

@@zachmason868 sure he has

And only 3 weeks after this was published we start to see the meltdown… great work on the video!

@darthplagueisthewise8880

2 жыл бұрын

What meltdown, can you explain

@dutchfresh3580

2 жыл бұрын

@@darthplagueisthewise8880 I'm guessing Evergrande

@nerdonword561

2 жыл бұрын

That remains to be seen. I think China will power through this one like it always has. Government will bail out the financial institutions and continue pouring money into infrastructure and public projects. Once time comes to pay the piper, Chinese authorities will just remind us that capitalism is a construct and the final word in all matters is the Chinese state. That's why I think China's authoritarian retrenchment over the past few years is partly due to its structural concerns--they're preparing for any number of future calamities that are easy enough to see coming.

@inigobantok1579

2 жыл бұрын

@@nerdonword561 and they would just contributing to the housing bubble and the debt it accumulates

@kristapszs1

2 жыл бұрын

tbh, they had issues since 2020.

You’re one of my favorite channels on KZread keep up the great work.

It'll be pretty interesting to see what happens when leases come to end of their life.. given you hold the time remaining on a long-term lease, as opposed to title, isn't it an inherently depreciating asset, unlike usual land investments?

@Myria83

2 жыл бұрын

Good point.

@talltroll7092

2 жыл бұрын

The assumption is that the CCP will have to renew at least a majority of leases, or the economy will collapse as so much money is tied, directly or indirectly, to the real estate market. Or that's what a rational government would do. With the CCP, we'll have to wait and see

@BenjaminElsworth

2 жыл бұрын

@@talltroll7092 yeah, and it's likely a safe assumption. Wonder if there'll be a redistribution in some way, like change certain residential into commerical/industrial/etc to counter the ghost cities. It's just interesting to remove the "almost sovereignty" in the form of title, from a real estate asset.

Remember that part when the entire world relies on them to make everything? That was a pretty bad idea

@dun0790

2 жыл бұрын

On the bright side a lot of east asia is keen to fill that void if they actually could is another question

@wafflecopter9296

2 жыл бұрын

@@dun0790 countries should make their own stuff as much as possible. Shipping things across the world is very damaging to the environment

@Esternos2891

2 жыл бұрын

I always thought that was stupid. Outsourcing jobs are done mainly because companies hate creating a safe work environemnt domestically, so they use sweatshops for the cheap labor and unregulated conditions. Disregarding the morality of it all, we basically gave our economic independence away. We rely on these products coming overseas to the point the domestic industry collapsed and will never be able to remotely compete.

@deadboltzz5199

2 жыл бұрын

@@Esternos2891 Ai can easily make up for it.

@whoisjoe5610

2 жыл бұрын

@@wafflecopter9296 Ever heard of a competitive advantage? Have fun buying an iPhone made by Americans getting paid $15/hr.

Anyone else come back after seeing Evergrande on the news?

@zacksmith5963

2 жыл бұрын

Bailed out

@rishiarora3589

2 жыл бұрын

@@zacksmith5963 has that happened? Got a link?

@oxcgen8592

2 жыл бұрын

@@zacksmith5963 the Chinese government has said they won't bail them out looks like they are gonna collapse before the Gov will do anything to improve the situation cause Evergrande executives played their political cards poorly and the CCP disapprove of them lately

@shiroamakusa8075

2 жыл бұрын

@@rishiarora3589 "Zack Smith" gets 50 yuan per China-simp post, don't expect anything.

@onsight1318

2 жыл бұрын

@@oxcgen8592 The Chinese government would have to help them, even if they like them or not.

Hey Economist! Just want to complement you on all your great work. I really enjoy the videos especially more for the right ways of thinking you promote, insted of telling viewers what to think. Kudos to you MATE!

@mainmusik3677

Жыл бұрын

One year has passed , and turn out it's US facing economy crisis and banks collapse 😁😁😁 Fancy video editing and advanced economic verbs didnt mean the 'prediction' is valid 😁😁😁

I live in Beijing and getting rid of the Hukou system isn't so simple. Without having more equal development across all of the different regions, millions of people will continue flocking to these urban hubs (Beijing, Shanghai, Shenzhen, and to a lesser extent Guangzhou, Chongqing, etc.). The thing is, the available public services in these places are already under a lot of stress and there's significant risk in expanding them to millions more people all of a sudden without doing something drastic to offset the burden.

There’s a time in every economic boom when it seems like it will go on forever. People with easy money in their pockets assume the boom will be permanent, because they’d like it to be so. Historically, it’s always around this time, when the economic bubble seems to be an unstoppable force, that it suddenly bursts, taking the dreams of its investors with it.

@TEverettReynolds

2 жыл бұрын

It happened in the 1920s in the USA, leading to the Great Depression of the 1930s... Who knows, maybe the 2020s will be China's 1920s...

@bobs182

2 жыл бұрын

@@TEverettReynolds The US housing bubble burst in 2008 leading to the Great Recession. Congress and the Federal Reserve bailed us out preventing it from being a depression.

@ThePowerLover

2 жыл бұрын

@@bobs182 That was not a Great Recession.

@pramilashaktawat4429

2 жыл бұрын

🔺SERCH ADITYA RATHORE- HE ALSO MAKES INFORMATIVE CONTENT LIKE ECONOMIC EXPLAINED

@markusbarten455

2 жыл бұрын

@@TEverettReynolds The difference is that USA did nothing to prevent or postpone the collapse and were caught flatfooted, the CCP know that their economy could implode for about a dozen reasons and they do anything to prevent that. China might be able to hold on for several decades and then face a even worse collapse. Another problem is that they focus more on keeping their growth than improving the lives of their citizens, which leads to increasing frustration in the population, which in turn causes the CCP to tighten their grip. China will become even worse long before it suffers any real setback.

wow this video has aged like fine wine after the whole Evergrande situation

@cynthiaedith4122

2 жыл бұрын

Or cheese since it keeps getting a stronger and stronger smell making it harder to hide

@vengefulspirit99

2 жыл бұрын

After? It's still ongoing

@SpencerGD

2 жыл бұрын

They age like fine wine. EE is a master vintner of economic content.

@madeinchina1450

2 жыл бұрын

“If someone spent his entire time wishing you ill, hoping you would fail, and shorting your stock, when he makes a pronouncement or assessment, assess something, makes a judgement about your present, your future, it’s probably a fair bet that the opposite is true.” ----- Eric Xun Li

@hf2138

2 жыл бұрын

Evergrande is nothing compared to GFC Leveraged derivatives that scale like a nuclear chain reaction

Same issue affected Ireland- massive debt fuelled over investment in property. There are similar issues in many other economies due to capital leaking into property from Quantitative Easing.

Thank you for doing these videos. They're incredibly insightful.

Evergiven: The Suez Canal incident, I burned $54 billion of the world economy!!! Evergrande: Hold my $300 billion in unpaid bills!!!

@Xalantor

2 жыл бұрын

Be careful of anything with "Ever-" in its name.

@sanbruno6010

2 жыл бұрын

PEACE PROSPERITY BONANZA FREE THINKING

@gabrielc7861

2 жыл бұрын

@@Xalantor everpainful

@tsubadaikhan6332

2 жыл бұрын

Evergiving... The humble taxpayer

@rusdibaik1891

2 жыл бұрын

Violet Evergarden…beware coz u might cry

I live in Porto Alegre, Brazil based on my income I'm top 12%, and a basic home costs 10 years off my income

@haoyuguo3929

2 жыл бұрын

This is good.

@Novastar.SaberCombat

2 жыл бұрын

Congratulations.

@Ayvengo21

2 жыл бұрын

What kind of home is that?

@viniciusmv7727

2 жыл бұрын

@@Ayvengo21 a 2 Room apartment that doesn't have major problems

@Lokeso

2 жыл бұрын

A clássica história do sonho americano. Tem que estar dormindo pra acreditar...

China, a spectacular imitation of an advanced economy.

@jesuszamora6949

2 жыл бұрын

All it's ever been, really. Though a lot of it is also Xi Jinping's strongman tendencies scaring outside investors and drawing international ire. Hu Jintao was able to keep the act up much more convincingly.

You know what, I like that sentence : The kingdom built on pillars of sands. I will print it and put it in my coffee mug

Would love to see a video about how the tanking of Japan’s once booming economy affected the rest of the world

@Lena-vw6ye

2 жыл бұрын

@J Kairos Actually, they're really quite amazing. They have really good engineers and automation that allows them to see a lot of data that helps them predict the future of where industries are moving. This year they will be able to increase their GDP by almost 3.5 trillion, which means they are essentially adding an entire Germany GDP of income to their pockets. I work with manufacturers quite closely and with information platforms in Asia, they're not the only ones looking at the future. They are in the space ahead and able to jump ahead, like how America created credit cards, but China decided to go almost all digital. They are leap frogging the technology. People have been looking for the downfall of China for over 40 years, so I wouldn't be waiting anytime soon, China will probably grow long after we've all passed away.

@performancefluid3666

2 жыл бұрын

@J Kairos you are absolutely right about the education reforms... I remember when china was all about economy. That was the only thing people cared in china and still do (money and family). But the thing that happened with the education absolutely destroyed a huge part of the education industry (private education). Many private centers declared bankruptcy and closed down. Thousands and thousands of people lost their jobs (I mean Chinese people) overnight and the government will lose a lot of money it would make taxing. So now all of a sudden ccp doesn't care about money? Ccp doesn't care people lost their job? I know why they say the policy is in place but there must be something else that they are not telling...

@zkh173

2 жыл бұрын

@J Kairos I was born in Hangzhou in 1996, absolutely amazing transformation of living standard under Chinese government! I travel back and forth between Hangzhou and Toronto, Toronto is no better in terms of infrastructure. Any statement that tries to slander China's economic achievement is garbage, I witnessed it, I felt it, it's very real!

@collinfrye9555

2 жыл бұрын

@@zkh173 he didn’t slander your countries economic achievements he said your government is full of sick and twisted individuals willing to do anything it takes to achieve world domination, and with you being a Chinese citizen that gets to leave I hope you understand that there is no dispute for that. You will never have the same freedoms in China that you have anywhere else if the status quo is maintained

@collinfrye9555

2 жыл бұрын

@J Kairos I was trying to be nice and civil about it gotta go one step at a time with heavily indoctrinated people

Back in the '80s when everyone thought the Soviet Union was unstoppable their GDP growth was off the chart. They got that growth through government subsidized infrastructure military and rail projects. It got so bad that there used to be a train that ran in circles around Moscow full of cardboard and was never offloaded. All to meet a government quota that on paper looked as though the real volumes were off the chart but in reality it was wasted resources. That is exactly like what is going on in China currently and the Miss allocation of resources to make paper growth.

@Krasnoye158

2 жыл бұрын

also like how some businesses in the US dump their own products rather than donate them just to chase profit, even though donating cost nothing.

@karlcarlos8516

2 жыл бұрын

@@Krasnoye158 Ya I do admit some parts of capitalism has this issues. Food produce being wasted and bleached (to prevent homeless people from taking it) and amazon destroying their inventory in order to maintain the supply side of supply and demand.

@eduwino151

2 жыл бұрын

@@Krasnoye158 when your currency is the world reserve currency you can pull such stunts and get away with it China does not have such a luxury

@Drake00075

2 жыл бұрын

Do note, some products, like raw milk, are dumped because it turns rotten/bad if nobody can process or store it. The places with pasteurizers and fridges aren't able to just run and donate 24/7 without bankruptcy on the horizon rn with our setup.

@ANONYMOUS__USER__

2 жыл бұрын

@@Krasnoye158 That's what happens when monopolies take over and there is only one supplier. In a normal functioning economy with open and free market competition that would never happen.

I must say , this is very well done.

can't believe I watched the whole video. Given my 2 minutes attention span, it's pretty amazing.

When two fishes in the pond are fighting an Englishman must have passed by When fishes in the pond are armed an American must have passed by When fishes in the pond have disappeared a Chinese must have passed by

@appleslover

2 жыл бұрын

When the two fishes in the pond are too drunk to swim, a German must've passed by

@dawudsandstorm7852

2 жыл бұрын

@@appleslover Maybe a Russian passed by, well actually the fish would be dead of radiation poisoning if a Russian passed by.

@kyleterry5190

2 жыл бұрын

@@dawudsandstorm7852 the fishes would have red books beside them while spouting how the tyrant bourgeoisie is taking the liberties and hard earned effort of the gentle laborer

@j.grimes4420

2 жыл бұрын

When critics of US foriegn policy disappear or die mysteriously the CIA must have passed by.

@WhiteManOnCampus

2 жыл бұрын

@@j.grimes4420 Or when critics of US foreign policy suddenly receive massive shipments of arms and start killing US citizens abroad.

When I've heard "This... is China", I thought Doug Demuro started a new channel on Economics 😀

@blueshattrick

2 жыл бұрын

"I'll look at all the pros and cons of their style of government, and finally.. give communism a Doug score"

@tyler_drdn

2 жыл бұрын

😂 agree. We need Doug Score for countries

@Teporame

2 жыл бұрын

Grandstianding is very popular.

@shnorakalyutsun

2 жыл бұрын

Quirks and features of China's debt system & real estate market

@obamabinladen5055

2 жыл бұрын

"This.... is China and today I will show you the different quirks and features of communism.....with chinese characteristics." ~ Doug

The Evergrande problem started with the Chinese government forcing developers to cut down on debt. As big as it is, the government can still nationalise the company, so it's a nothing burger. The elephant in the room is actually is the US national debt, but nobody really wans to talk about that. So it's all good. Go back to sleep.

Good explanation overall. There is one mistake that I wanna point out though: Because now the government generally provides you with a replacement unit when the old house is tear down, the price for the house paid is not "rent for 100 year" but a permanent asset at least for now before there is any policy change.

@michaelf.2449

2 жыл бұрын

If you trust them to actually do that... After 99 years I would expect they'll just take the land back and resell it.

@weiwei1557

Жыл бұрын

@@michaelf.2449At least you got it now

Who knew 3 weeks later, Evergrande is about to default with 15-20% people of China’s GDP…crash

@ashleyashley369

2 жыл бұрын

Can you think China will be replace USA or EU

@metagde6402

2 жыл бұрын

And here goes the doomer mentality of incoming china collapse again How many times is this? 6? 7? Maybe let china collapse for once before drumming and celebrating

@aportfolio8324

2 жыл бұрын

@@metagde6402 so you shill campaign continues haha working extra hard to play janitor for the CCP, are we?? Haha Wumao

@carval51

2 жыл бұрын

@N Fels cnbc and abc reporting it though . actually alot of outlet so far no bailout yet wumao

@aflyingcowboy31

2 жыл бұрын

@N Fels Evergrande hasn't been bailed out yet what are you talking about?

“Lying Flat” would also be a good descriptor for the trustworthiness of the quality of those high rise apartments, both structurally and as investment securities.

@marlonyo

2 жыл бұрын

You got to admire those buildings, joining all those young people on their protest.

@masongao4286

2 жыл бұрын

nah we just couldnt afford one

@pastasoo

2 жыл бұрын

Hard to talk when we got similar condos in Florida and no public infrastructure development to speak of for decades

@tomaszyarlett8681

2 жыл бұрын

You never actually own any piece of land beneath the dwelling. The authoritarian government could just take it away from you anytime they want.

@andro7862

2 жыл бұрын

@@tomaszyarlett8681 But why would they?

The ending of that video is chillingly prescient.

When u can’t blame anyone in ur country but u need someone to blame those fingers are going to be pointed outwards is so true

So *Another* Dystopic future is on the horizon? Man the multiverse is really depresing nowadays

@grmpEqweer

2 жыл бұрын

This is perhaps both the most depressing, and dumbest timeline.

@Drake00075

2 жыл бұрын

Every problem is also an opportunity.

@Kushagra.j

2 жыл бұрын

China going down will be collectively good for all of us!

@LLAALALA

2 жыл бұрын

@@Kushagra.j you sure about that from an economic perspective?

@GalacticNovaOverlord

2 жыл бұрын

@@Kushagra.j except the U.S. is likely going to blow first. Then China. All these capitalist countries are built on houses of cards for us, and another world for them.

A few weeks later we have this Evergrande thing going on….

@ashleyashley369

2 жыл бұрын

I think Evergrande lost cant impact China economic 🥲I think it make us see China politic very power and it control all business

@v000000000000v

2 жыл бұрын

@@ashleyashley369 u 'think' lol good one bot, account created Sep 12, 2021

@xXJ4FARGAMERXx

2 жыл бұрын

@@v000000000000v yo good catch!

@Shvabicu

2 жыл бұрын

@@v000000000000v just look at that grammar. Tells you all you need to know already

@mywifesson782

2 жыл бұрын

@@ashleyashley369 you are really out here simping for china in random youtube comments? CCP payed?

I'm not only not worried,I have full confidence with China and its people.

"embrace the free market" dude, China brings out perspective plans every 5 years

Hasn't Gordon Chang been saying this in his "China Will Collapse" books for decades now...

@kenban8533

2 жыл бұрын

Gordon Chang: predicting the imminent demise of China for twenty years and counting. Eventually, he'll be right.

@karlcarlos8516

2 жыл бұрын

@@kenban8533 That's like all the people predicting the world will end. Eventually one will be right and he can call himself the messiah. Here I'll make a prediction myself. "China will collapse 1 million years from now."

@ritwikreddy5670

2 жыл бұрын

Predictions with no time limit are useless, given a million years, everything will eventually happen.

@ritwikreddy5670

2 жыл бұрын

@@karlcarlos8516 yes, exactly

@davidwarford3087

2 жыл бұрын

@@ritwikreddy5670 That is not completely fair, if you get the mechanism of the collapse correct. you can't put a time on these things, mostly because simply making the prediction effects the outcome. People screaming about how the government is going to take are freedoms and it will be like 1984 in large part are the reason they have been wrong (well up till now), they themselves were resisting the change and falsifying their own predictions.

I dont want to repeat mp.3 (Inserts into video) Love the videos lol

Great video!

Definitely true, one of my former coworkers divorced her husband so they can buy another apartment. They still lived together, traveled together and raised their kids together.

This is basically a really good example of how GDP has been used wrong and completely different from how it was intended

@YassoKuhl

2 жыл бұрын

Could you please elaborate?

@DavidSmith-nx3zw

2 жыл бұрын

The GDP that china published is simply a blatant piece of bullshit. They have being declining for a few years now they just don't admit

@JR-vc4gm

2 жыл бұрын

@@DavidSmith-nx3zw last time I heard that china should become a developed country and was hiding the actual GDP, under reporting. Whatever.😂

@MikeSpike117

2 жыл бұрын

@@DavidSmith-nx3zw to be fair whilst China is only seconded by the US as to how shut capitalism uses GDP, they have taken the most amount of people out of poverty. If we took China out of the total there would be a % increase in poverty

@alexandredupont1966

2 жыл бұрын

@@MikeSpike117 They took people out of poverty by lowering the threshold of what being "in poverty" mean. It's like moving "being fat" from 90kg to 120 kg. That's how they beat poverty.

The headline was ' why you should be worried' but the author never really said in depth why a US based accountant or barkeep making the medium household income with a wife and a kid and two dogs should be worried. Unless it was the ominous one-liner at the end: that the government will trigger a war to deflect criticism.

@lepidoptera9337

2 жыл бұрын

No person outside of China needs to be worried about a purely Chinese problem. The Chinese won't start a war, either. Come down from your trees, everybody. :-)

At 8:28. Gotta love that NYC Chinatown stock footage in case you run out of real China stock footage. LOL. I immediately recognized that corner cause I lived only a few blocks from there. ;)

alternative video title: "Why Don is Excited about China's Debt Crisis"

Who knew building ghost cities are not really that profitable? 😵‍💫✌️

@zacksmith5963

2 жыл бұрын

Ask spain

@sideshowbob

2 жыл бұрын

Ask the Denver & Vegas areas

@rileygladue3979

2 жыл бұрын

@@sideshowbob ask china

@johnerdelyi48

2 жыл бұрын

Sit back and watch the dominoes fall and if the ccp should fall remember you almost had it all !

@zacksmith5963

2 жыл бұрын

@@johnerdelyi48 i sm sitting bsck and watching usa fall . Ccp is kaughing as well

The last statement was especially true with the closure of Samsung and other foreign companies in China. They still do not dare to point the fingers at the right person.

Ever a grand day to watch this video again.

Hukou is just Mandarin for household registration; imo it'd be easier to understand if you just say that China ties governmental services to the registration instead of actual residency and disallows people from moving their household registration.

@timothydee1507

2 жыл бұрын

Sounds like it enforces an apartheid system between rural and urban residents

@wclifton968gameplaystutorials

2 жыл бұрын

@@timothydee1507 that’s exactly what it is and it helps limit the freedom of movement especially considering that it was one of the first long term policies that were implemented by the communists it’s just that the Hukou system stuck around unlike other polices such as killing all the birds…

@augustuspetrov7844

2 жыл бұрын

@@timothydee1507 POV: you don’t know the definition of apartheid

@MarkWTK

2 жыл бұрын

@@augustuspetrov7844 not apartheid in the literal sense maybe segregation would be more suitable?

@hectorzero8545

2 жыл бұрын

@@augustuspetrov7844 sounds like u missed the point

7:00 poking Michael Burry with a stick... "C'mon, do something"

@mirzaahmed6589

2 жыл бұрын

A drumstick?

As always, great job !

I'm not sure if it's fair to say that Mainland Chinese people choose to ignore their country's problems; they are either brainwashed into not realising they are problems, or they are genuinely fearful for their lives if they were to actively indicate that they are aware of, and concerned about, those problems...

Why don't they abolish the system? **WH 40k Lost Crusade Advert is played**

@edwinvillalobos7159

2 жыл бұрын

💀💀😂

@anhtunguyen781

2 жыл бұрын

time for the glorious empire

Shouldn’t the thumbnail say "built" not "build"?

@dan203

2 жыл бұрын

@@Weeee439 I assume so, just alerting the creator so he can fix it

@tomlever

2 жыл бұрын

@@dan203 Good lad! Should be an easy fix. 🙂👍

If they don't bail them out, what's the worst case scenario? Another 2008? Is that what we're looking at?

@calors6652

2 жыл бұрын

This is not 2008, I know people are talking about the house quality, but many of them still have acceptable quality, so people just exchange money into a tangible asset. It is not wasted, or disappeared. Even 60-70% of those house is livable. I can see a huge advantage for the next generation if the house price crash for a while to a reasonable price. It is not the same as Japan during 1990s because the house price in China has not enter a stage to because a highly speculative product. House price in Shanghai or Beijing is high, but other cities have not enter that stage.

Excellent video, my man!

EE is seriously driving up demand for Their videos with this posting schedule

@tekkersmo3816

2 жыл бұрын

Or the impending collapse of the global economy is driving demand for Economics Explained videos. Occam's razor. You pick.

@absolutefocus2749

2 жыл бұрын

@WorldFlex the ending should tell you all you need about this channel, it's not interested in economics but fear mongering in order to get clicks, "who will they blame when you only have 1 party" while an American flag is in the background, not only implying "this can never happen in the west as you have 1 side blaming the other until we vote" but is also making an ominous remark how China will enter into a possible war with the US over its own economic hardships. Pure fear mongering!

You had me at "Why you should be worried about China"

@sorsorsor11

2 жыл бұрын

Do not worry my man, officially the world as of now had 210.000.000 cases and 4.100.000 deaths. China had....4000 cases...with 0 death...hmm.

@pascalladal8125

2 жыл бұрын

I've been watching documentaries saying how precarious the economy of China is, how bad the choice they made are, how it will backfire and hurt the world economy for at least 20 years. 20 years later, they are still catching up on developped countries. I can't believe the irony in the fact that developped countries keep bashing China, and are still not even close to do what they are doing in term of economic growth and social improvements. Western societies are basically stuck in statu quo arguing on bs like "is a mask really effective", while the only care of their governement is to get reelected..

@yipwinghei

2 жыл бұрын

@@pascalladal8125 previously due to there are new investment filling the game it is like a ponzi scheme.....when there are new comers, the scheme can still works. Most importantly, it is China government want to "kill" the rich tech giants for it's own gain via communism tricks that scares investors.

@yourabitcringeinnitbruv431

2 жыл бұрын

China sucks

@bamahama707

2 жыл бұрын

@@pascalladal8125 Not all of us are stuck on that mask BS...

I come watch this every single day. Such a good video.

Amazing descriptive Video. Thanks and sub

You should do a video on the economy of yugoslavia and its ex yugo countries in the modern day Love your videos, From Bosnia and Herzegovina

@mframedeye37

2 жыл бұрын

This video would sadly be quite depressing in some aspects

@AC3pog

2 жыл бұрын

@@mframedeye37 yes but it would be cool and show some light on our modern day banana republics

@mframedeye37

2 жыл бұрын

@@AC3pog ye I would love to see more videos on southern and Eastern Europe

@mrwolf750

2 жыл бұрын

What's going on in Yugoslavia?

@thedownwardmachine

2 жыл бұрын

I second this suggestion.

I'm not sure you can say they've regressed into authoritarianism since it hasn't stopped being authoritarian.

@hitomiii8235

2 жыл бұрын

Well it’s getting worse and worse under the current dictator. It wasn’t this bad 20 years ago when China just started open to the foreign market.

@sirsurnamethefirstofhisnam7986

2 жыл бұрын

It’s a matter of degree China was less authoritarian a decade ago than it is now but was never a free society

@behimothgames7333

2 жыл бұрын

Problem?

@alexandredupont1966

2 жыл бұрын

There was hope few years back, but now every chinese have a red book to learn from school called "Xi Jinping 's thought". Fail to know the red book, you fail exam. Oh and if you dont know it well enough in corporate world, well you can kiss your career goodbye as you gifted your colleague your well derserved promotion. History repeats. Especially in a country where history is either forgotten, rewritten or censured.

@xiphoid2011

2 жыл бұрын

Well, I grew up in China. There was a time back in 90s and 2000s when China was headed in the right direction, slowly becoming more open, free and even tip toes in a bit of democratic reform at a very low level. But then Xi came to power, and he started to reverse all that -- more central authoritarianism, less personal freedom, more censorship, propaganda, antiwestern nationalism, clamp down on businesses...it's getting worse and increasing feellike Mao's cultural revolution 2.0.

In the past decade, economists have studied the booming of China economy. I have seen predictions about the burst of China housing market and financial crisis here and there on economic columns. But for this video to come right before the fall of Evergrande ... just give me a chill!

@inigobantok1579

2 жыл бұрын

Not really a decade more like 2017

I lived and worked in China. When we lived there we were able to travel all around and to places where foreign tourists don't go. First let me say that so many Chinese we met and knew were great. There are also many beautiful places that we visited. On the other hand outside of Shanghai, Beijing, Shenzhen, Guangzhou and other higher tier cities, the majority of Chinese people live in third world conditions and struggle to survive.

@ChromeTztizit

2 жыл бұрын

I wonder how this compares to the US. NYC, LA and a couple other major cities are certainly first world; but after driving across the country a couple times I’ve noticed “flyover country” is not.

@maxg4304

2 жыл бұрын

@@ChromeTztizit you'd be surprised. even people out in the countryside live very comfortably.

@ChromeTztizit

2 жыл бұрын

@@maxg4304 you mean in the US

@Martinmarshallmargella

2 жыл бұрын

It a fact. rural china is not good compare to big city.

@calors6652

2 жыл бұрын

If you think majority of Chinese people live in third world condition, then you never see how third world conditions look like. Have you been to SEA, India, Middle East, and Africa, even many places in east Europe. Some of these places will renew your definition of "poor" and "third world", maybe you can define them as fourth world, who knows. Just look at the countries that are on the Global Hunger Index list. Over 100 countries that are even worst than China.

As a Chinese person I have to say that you really have a deep understanding of what's going on here. Great videos！

@jasonzhang3775

2 жыл бұрын

he has a seemingly deep understanding of things on paper

@peachtpm2528

2 жыл бұрын

@@jasonzhang3775 I‘d say this video is quite comprehensive and contains enough information for a 15 minute long educational video. Most, or I'd argue all the information mentioned in this video is accurate. For deeper analysis I'd recommend essays specifically written for the analysis of the Chinese real estate market.

@maddoo23

2 жыл бұрын

As a Chinese person on China or a non resident?

@neeljavia2965

2 жыл бұрын

@@jasonzhang3775 Because your government hides the skeletons in the cupboard.

@FRIPPE_THE_GREAT

2 жыл бұрын

What will happen when the golden generation needs to retire? Is this discussed in China?

There is most definitely a regression going on in China. I lived there for a decade 2004-2015, and started feeling it from around 2012. Started with all the arrests of foreigners in Beijing in the bar districts about 2011, then about 2014 over the Day Islands off Taiwan (I even went to a brainwashing session with the school I was teaching at! And also got caught up in a heavy protest/ riot in the middle of Tiyu Xilu in Guangzhou). And now they have shut all online schools providing English classes for students, so no foreign 'influence' anymore- this has happened very quickly. Something big is coming....

@Krasses

2 жыл бұрын

But what has happened in the least 6 years then? Do you have any idea on that something big? Will it cause the economy to fall back?

@yohaneschristianp

2 жыл бұрын

Culturally yeah, not economically. It's regression for us foreigners not the locals.

@nicoz4122

2 жыл бұрын

@@Krasses It's getting more and more complicated for foreigners. Bit by bit. I know a lot of people who left, who are planning to leaving and some who since the pandemic can't come back even though their life is all here. But the most annoying is when you are running a WOFE (Wholly Foreign Owned Business) here in China, you have lots of issues, inspections, anonymous complaints especially if you are successful. Outragious enough: your local competitors can be non compliant but they face no issues. Last thing to notice: there are incentives, wording, speeches... to push Chinese to buy Chinese products not foreign brands with the underlying idea that foreign brands are bad and harmful (hilarious).

@dickiewongtk

2 жыл бұрын

@@Krasses what happened? Xi became emperor.

@arminius6506

2 жыл бұрын

@@nicoz4122 so they're acting like USA lately??? 🤔

Comprehensive and sound analysis. Thanks.

Thumps up for using a shot from Zaragoza 👍

Hmmm, if the Chinese economy were to collapse, it would be very bad for my state in Aus which is heavily reliant on selling resources to China. By the same token, it would be interesting to see the % of Chinese nationals who are investing in Real Estate overseas, to avoid the bubble at home and I guess Chinese laws on Real Estate investment.

@maxguo1162

2 жыл бұрын

Hope you enjoy your freedom in WA.

@marshallfischer3667

2 жыл бұрын

It's clear to me you're Australian government has completely bent over to the CCP so good luck...

@sircharlezz

2 жыл бұрын

I'm sure AU would rebound quick, because America would definitely push to take china's place in the economy

@thomasjuniardi3559

2 жыл бұрын

China built more ghost cities all over southeast asia, look it up....if they go down, they drag down everyone with them 😬

@Rhyghar

2 жыл бұрын

Australia should diversify their economy and export and should start looking for new emerging markets like India, Mexico, Vietnam, Brazil, South Africa etc..

This aged like fine wine

As a brazilian, i love your accent. Feels way more comfortable to my ears than "the more used" english ;) Nice and very informative video, congrats from a new subscriber.

14:53 "The domestic market it's worked so hard to cultivate will collapse very quickly and perhaps, it already is." I think you're talking about Thailand, not to mention the footage XD

I just watched this video a month Ago when it was available. This week Evergrande crisis pops up in the global economic scenario!! Definitely good quality of information and analysis in your videos!! Highly underrated!!! Keep it up, can't wait to watch your next video.

@Shadowsuit

Жыл бұрын

Moreover, they had 30years to get property as there were no property for 50 years if not a 109years. That property rights are someting very real jow but was not before

“Lying flat” is apparently the Chinese equivalent of “the Great Resignation.”

@ValeAssistir

2 жыл бұрын

Nah... not the same thing.

@EvdogMusic

2 жыл бұрын

Based on EE's explanation, it seems closer to Japan's Hikikomori phenomenon

@germanye5804

2 жыл бұрын

Lying flat in American be like: STOP RESISTING STOP RESISTING🧔🏿🦵🏻

@joellis5915

2 жыл бұрын

Interest in those theft, always accusing others of stealing like all the Americans always blames everyone else, but itself. a nation failed 365 degrees around, but the only resource is pointing the filthy finger to China as a scapegoat.

@johnuferbach9166

2 жыл бұрын

@@joellis5915 there are only 360 in a circle mate

Europe is not a place, it's a collection of dozens of different countries with sometimes gigantic differences in their economies. When you lump in Greece, Ireland, Finland and Portugal for example and consider them as one, it makes for a very poor economic analysis. You should take a look at who much the real estate market is engrained in Spain's economy, for example.

Fantastic video! I liked and subscribed immediately.

Need more 2020 and early 2021 data. Covid HAS to be a factor in this.

@KrazeAndFriends

2 жыл бұрын

@gioyu comi HAI NEIGHBOR

@joetheox1202

2 жыл бұрын

@gioyu comi this wu flu is pearl harbour x 1,000,000.

@baconboi4482

2 жыл бұрын

@@joetheox1202 more like the Gulf of Tonkin

You do mention quite a few good points but let me provide a few counterarguments: 1) Prices are extreme only in a few cities, the most famous being Shenzhen but even within first-tier cities, Guangzhou is significantly less expensive than its peers. 2nd and 3rd tier cities are actually mostly fairly reasonably priced. 2) Because of the dynamics in the society (primarily one-child policy) most young couples have the support of 4 sets of grandparents and two sets of parents, so all the wealth trickles down to the young ones. 3) If you're from a big city your family certainly has real estate in it, cause back in the days flats were given by the state. All the people that come in from outside the city, know what they are asking for as there is tons of limits on what you can do in the city in terms of healthcare, education and so on. Essentially, the government is saying "it's going to be a tough ride in this expensive place, think twice before you want to settle down here". These days, only the high-income people plan to buy a place in their new home cities. Everyone else wants to move back to their villages or smaller cities. Typically parents work and make and money in one city but their kids stay with grandparents in a smaller city, and sooner or later they will go back to their hometowns. I've been living in China for over 10 years and out of thousands of people I've met I didn't know even one that missed mortgage payments. People are much more serious about their financial commitments here, especially about the real estate, and in case of problems, the whole family will certainly help and chip in.

@ausforaus7617

2 жыл бұрын

When I was in Chengdu a few years ago the western press were all talking about the imminent economic and probably political collapse of China. I always stay well away from foreigners when in China, only saw one were I was living in 3 months staying with a Chinese friend. I remember a 30+ apartment high rise was being built at the time, the work went on 24/7, it was example of just how hard the Chinese work. I though then that the 'west' particularly 'western' economists just do not get China, its people, its culture, its history.

@prajnaprayas7425

2 жыл бұрын

@@savageideas Hey nice explanation. Just curious how do you use KZread from China? Guess you are not staying in China rn? Apologies for my ignorance though. Just curious

@zalibassga

2 жыл бұрын

@@prajnaprayas7425 would like to know aswell, especially since it's not a pro china video

@fartingfury

2 жыл бұрын

@@prajnaprayas7425 Maybe they live abroad. Plenty of Chinese do, and I start to see why...

@Gardstyle35

2 жыл бұрын

1. and there ghost cities and overall if u compare income to house prices china is waaay to expansive 2. the elders dont have lots of money to give to the young ones, also 1 child has to support 2 parents and 4 gradnparents - putting great strain on the state 3. there are houses for 80 million people where nobody lives in. They build more so it will total to 300 million whyle the population shrinks. The stock market will blow up eventually

Always interesting, thank you.

Excellent summation. Thanks.

Considering how much production was moved there, yes we should be concerned. And then learn our lesson and bring production back to OUR OWN countries.

Maybe the decades long race to the bottom while driving down quality has detrimental effects! Who would've guessed!?

@jooot_6850

Жыл бұрын

Crazy, right?

What do you expect from a country who only tried to revolutionize only because they felt humiliated

@janstaes2172

2 жыл бұрын

the chinese never forgot the humiliation by the western countries + the near destruction of their country by the west. (read up on the recent chinese history) they took a vow never to be weak again.

Here is a scenario for deflation for the years to come: The price of building materials will drop drastically, as China will have to export them at a bargain price. Its domestic consumption will be very low in the coming years.

@Aqueox

2 жыл бұрын

Hopefully the US can avoid any kind of economic crisis... We still have the demographic crisis, an economic one will just compound the issue.

Here's the thing I'm confused about: There is all this talk about the Chinese debt crisis, among other things that are poised to bring down their economy. But I also just listened to a podcast today (the latest episode of Making Sense as of writing this), where a world renowed economist is also talking about how much western national debt China owns and that if we ever start failing to repay that or China decides to call it in, they can effectively wreck the western world. In my head, I can kind of see a scenario where both of these things can exist simultaneously but I have a hard time processing it. How can China be in a massive debt bubble while also seemingly being in control of the rest of the world's debt bubble?

@aaron3951

2 жыл бұрын

It is true that China owns ~1Trillion USD worth of US debts among others but the fact is, the US can always pay her debts because she can “technically” generate the currency needed to pay off these debts, for as long as inflation is in check, they can print them. Ive read about this in a book called “The Deficit Myth”.

@jeffreysteelman8583

2 жыл бұрын

China is actively undergoing socalist transformation, they have harnest the productive power of capitalism as well as the exploitative and damaging aspects of it as well, the party is there to manage these contradictions while they capture foreign capital to build their country legally and through contracts with big businesses. There will be a time when they nationalize housing or provide cheap and affordable housing for all, eventually though, debt is not a concern.

@vulcanraven9701

2 жыл бұрын

@@aaron3951 and china can print their own money too. But nobody wants to accelerate inflation

@taichiwinchester1102

2 жыл бұрын

It's not hard. Chinese people and local governments borrowed money from the state via banks. Foreign governments like the US or Sri Lanka also borrowed from the Chinese state. In short we are all owned by the Chinese central government (Central Committee of the Chinese Communist Party). The debt issue of US is if it cannot repay on time it'll have to print more and that devaluates the dollars. If that happens too quickly people and foreign governments will ditch the dollars. That further accelerates the inflation and the devaulation of the dollars. The debt issue of China is if the people and local governments cannot repay to the central government the Chinese state owned banks will collapse. To prevent that the state has to increase the supply of yuan's and that increases the inflation, the property prices and the wealth gap since the poor are the furthest away from the printed money. What's worse the citizens and the local governments will borrow even more as the state punishes those that don't, so you end up with an even bigger debt problem.

@kerryxin414

2 жыл бұрын

that's where you need actual numbers to make sense of things.

Aged perfectly...

@MB-up3mh

2 жыл бұрын

Mind explaining why?

@cainhurst8740

2 жыл бұрын

@@MB-up3mh Evergrande basically imploded

The one thing I would say is the last comment about "blame being directed outwards if the system fails" is not something the Chinese government would count on. Theirs only 1 political party in China and the commie Cultural Revolution never completely stamped out ancient Chinese beliefs, including the idea that troubled times and calamities are Heavens judgement on rulers. This belief still worries the Chinese government.

4:01 - Real Estate in China 5:39 - Speculative Asset Vs. Place to Live 11:44 - Land Lease/Rent 13:58, 14:04 - Work 14:24 - LyingFlat Protest 14:55 - Debt 15:00 - Household Debt *15:10**, **15:21** - Debt to buy Appartment* 15:41 - Govt. Help

China's building regulations are so bad, and their government has fostered such a culture of money above everything, encouraging cost cutting and corruption, that their buildings are not just bad quality, but there is now a common phenomena of Chinese made architecture, both in China and abroad, being so called "tofu dragons"; a Chinese term for buildings (including bridges and other structures) being so bad they collapse or begin to collapse, within about three to ten years (sometimes they don't even make it out of construction). There are new buildings in China that have only been built and sometimes inhabited within the last five years, where balconies, stairwells, and entire walls have collapsed. There was an account of one causing panic by shaking next to a busy road on a still day with no earthquake. The Chinese real estate market is, aside from everything else, in many cases a long term scam, only profitable to people buy and sell immediately, with long term investors in very real danger of owning nothing more then a pile of rubble in just a few short years. Edit; regarding "tofu dragons" I've heard three versions of this, tofu dragons, tofu buildings, and tofu dregs. I've heard tofu buildings is more commonly used but tofu dragons is what I heard first, and I admit that may have been a misunderstanding due to an accent.

@Shvabicu

2 жыл бұрын

Ofc it's just a speculative asset flip if that pos isn't even your own. You only lend the land and never own it so there's a deadline to any home ownership. You basically have to buy and sell off again within that timeframe. What a stupid concept.

@sanbruno6010

2 жыл бұрын

PEACE PROSPERITY BONANZA FREE THINKING

@sideshowbob

2 жыл бұрын

Just like a Florida condo. Or Florida pedestrian bridge.

@shadowjewel

2 жыл бұрын

@OrzTech Tbh I don't know as I haven't heard the original Chinese, just English translations, but hearing that my guess is it is is poetic slang due to the similarity. My memory is fuzzy but I feel like I've heard of other examples of that in Chinese before.

@Aurora-cx3fe

2 жыл бұрын

Literally same problem in most of countries….

SUGGESTION - You flash graphs and data up and gone so quickly that the eye cannot get a faint idea of the content. Since most pics are meaningless background/theme shots, I suggest you more than quadruple the time you display numbers, graphs, data etc.

@8Scientist

2 жыл бұрын

Press pause mate

@Optimator7

2 жыл бұрын

Use your space bar

@rahulray5411

2 жыл бұрын

@@8Scientist that’s why he said it’s a suggestion, There are always ways to make good use of a bad product, nothing wrong with giving a suggestion to improve.

@alan5506

2 жыл бұрын

@@rahulray5411 It's not improvement if everyone else don't like it

@rahulray5411

2 жыл бұрын

@@alan5506 are you saying others enjoy looking at background filler stock footage more than actual data the video is based on?

Thank you great video I now see clearer

Love the disclaimer!