Comments by "Louis Giokas" (@louisgiokas2206) on "40% Market Crash u0026 16-Month Export Decline: Is the World Forsaking Hong Kong?" video.

  1. Again, with government relying on "land auctions" for income. I know, I know, people will make all kinds of justifications for this in China, and Asia specifically. But, let me tell you, this is a very primitive form of raising government money. It is also the least efficient and the least likely to enhance the economy long term. I mean just look at mainland China. The mania with land in a country with limited amounts, may be understandable, to some extent. Of course, this really doesn't apply to China, does it. But again, it is primitive. There also seems to be a lack of understanding in Asia about markets. Housing prices fluctuate, even in the US, over time. I have seen many cycles in my lifetime. Some were local, some national. There were many different causes. That is natural. But the lack of understanding I talk about extends beyond that. There are multiple financial markets operating at the same time, and the relative returns, outlooks among them are what really drives them. Money is a great invention, whether it be metals based or fiat. It can be moved around quickly (not so much for the former, thus the later) and thus one has to constantly look beyond the narrow confines of a single market and look at the economy in macro terms. From what I have seen in China, there is no real understanding of this by the leaders in their business community or the CCP. Primitive! China was never going to overtake the US. Look at all the remnants of empires that have long histories like China from Babylon to Persia to Egypt to Rome to Byzantium. That is the fate awaiting China, and it always has been. I am always fascinated by what is going on in China (and most of the world), but it really doesn't worry me anymore.
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  2.  @zaryalace7475  Good point.
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