Comments by "Patrick T" (@patrickt49) on "20 Million Unfinished Homes Drive Tens of Millions in China to Tears, China Collapse Irremediable!" video.

Yup, they aren't that good with money despite stereotypes that say otherwise.
14
@EarlDennis-l1l As far as I know there are three types of Chinese when it comes to finances: A.) Ones who are frugal and could care less what others think. So they live simply and don't try to impress others because it doesn't affect their bottom line. And the one I see often is B.) Live well beyond their means to impress others because of "face" culture despite having little to no savings and will end up being one of those old Chinese who go through the public garbage trying to collect cans in the gas station to recycle when they get very old because they didn't have two pennies to rub together to save and invest. Group C.) Are those who have money be it through hard work or ill gotten but they have cash nonetheless and could end up in group A or B given how their descendants manage their money after it gets passed on to them.
1
@MrKbtor2 Yes, and even this so called "investment" isn't based on anything real because values have clearly plummeted.
1
@MrKbtor2 They have access to some multinational companies that can invest in stocks overseas but most Chinese are too uneducated to see a financial planner.
1