Comments by "HomerOJSimpson" (@Homer-OJ-Simpson) on "The Economic Crisis That Threatens the Chinese Model - VisualPolitik EN" video.

@tiagogomes3807 no where else in the world outside of China has construction of homes been used like China has them. Where 70% of savings are put, 30% of gdp, and far far more homes than homes needed. Many cities in China have cost of homes 50x or higher than the local incomes. 5 of the top 8 highest cities in the world are in China alone. What that means is that a drop in the housing in China will be much bigger effect than just anywhere else in the world.
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What’s their way out of this? They will have to find a new tax revenue generator but that will end up slowing economic growth so best case is they don’t collapse but just see very normal growth going forward like 2-3% gdp growth rather than 5% originally forecast for 2022-2030.
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@jayl878 that probably won’t be enough but I suspect that’s what it will start with. Higher Taxes on higher end goods and higher taxes on the wealthy and middle class. But ultimately they will need a higher sales taxes across the board
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@tiagogomes3807 I can’t find anything about England and not actually owning land but leasing it from the government. Do you a source or detail?
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@jayl878 I’ve been to several parts of China and more than half probably won’t last 70 years. I noticed lots of empty buildings. In one location there were maybe 30 nearly identical buildings all around 25-35 floors high. In the evening I noticed only about 20% of the units had light. Heck, I’d say 1/3 of the holdings looked completely empty or nearly empty. I was told those building had been completed about 7 years earlier.
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@jayl878 construction from after about 2010 appear to be better quality but the homes built before seem to be in need of major repair after 10-20 years.
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@jayl878 the older ones are most certainly worse. They were building like crazy through 2014ish so since then it’s slowed down and I think there have been more regulations on housing construction. My ex s/o is from there but it’s been a year since we broke up. I don’t know what they think of the situation in 2022. I was last there early 2020 and had been there around 2017. The numerous empty buildings shocked me. Kumming had what appeared to be several dozen high rises on the outer edge of the city. Who’s going to want to move there? The Chinese love the dense urban cores of city. These 30+ buildings all looked completed yet empty but I only saw it from the major highway a km away.
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