Comments by "HKim0072" (@HKim0072) on "How Bad Is China’s Economy Right Now? | Street Interview" video.

  1. Previously well off girl (parents have a business) with the styled haircut is being the most accurate.
    18
  2. It's not even close. The closest comparison would be US 2009 when the unemployment rate was going up. By 2013, the unemployment rate had been a steady decline.
    12
  3. @ Yeah, that's not how things work, but ok. You can't use American salaries and Chinese expenses as comparison points. You realize economists have metrics for this right? Even if you don't have an economic background, you can use % of salary for each country.
    10
  4. lol, and China isn't hyperinflated?
    3
  5. @ So frustrating. Using a American tourist is the exact opposite of a proper example. A correct example would have an American worker get hired by local Chinese firm doing the same job. You really think union car workers in the US have a worst standard of living than car workers in China?
    2
  6. @ Interesting. My only point is a foreigner in China with a stable "westernized" income and no mortgage won't be feeling the same effects as a local who owns a property with a family. Considering the dude didn't give any details, I'm making assumptions.
    2
  7. @ ahh, the big guy mantra of "what's wrong with falling prices". Politely, have a good day and I'll stop responding. If you really think that a -50% collapse in asset prices is a positive to the economy, I honestly don't know what to say.
    2
  8. Always have to remember, but these are restrained PC opinions.
    2
  9. lol, housing prices have dropped by -25% to -50% in value. 70% of the Chinese public's wealth is tied to real estate.
    1
  10. @ The Chinese banking system is over 2x the size as the US. Hyper inflated and Hyper inflation aren't the same thing.
    1
  11.  @havocrein  Any graph showing Chinese debt levels growing faster than GDP will be your answer my friend.
    1
  12. @ You literally just said China isn't hyperinflated. Nope, China isn't hyperinflated, it's banking system is mostly state controlled and far more manageable, it doesn't use short term hot money gained from high intrest state loans to stimulate spendings, that kind of economic policies won't last. China is in a FAR better position.
    1
  13. @ Do you own a condo / real estate in China?
    1
  14.  @havocrein  You should read the Michael Pettis FT article, "China's debt isn't the problem. It's a symptom of the problem."
    1
  15. @ Don't blame me. Blame YT. My question was for the Chengdu guy.
    1
  16. @ The problem for a middle income country driven by exports is wages. They serve competing masters. Low wages are needed to produce low cost goods. But, low wages result in less buying buying. This is why China has a low consumption as a % of GDP. They have been unwilling to take the necessary hard steps to convert their economy. No high population country in modern times has escaped the middle income trap. Very unlikely China will be the first.
    1
  17.  @justadad6871  How much have real estate prices fallen by? Do you work in China? Are you employed by a local company? I'm trying to figure out your anecdotal ex-pat opinion and compare it to an average local person. The girl in the video literally said rents have dropped by half.
    1
  18.  @havocrein  Higher wages for people and keeping cost of living low is nearly impossible to achieve. They are competing with each other. Additionally, tech and innovation is not good for countries that have a mass of unskilled labor. Inefficiency is good for jobs. Go watch the film Secret of my Success from the 1980s. You literally had people delivering memos in companies.
    1
  19.  @justadad6871  Yeah, using personal experiences to explain an economy is problematic. I made over 5x the median income in 2008. My rent / utilities were <25% of my salary. I had no car loan. When the recession hit, my salary got cut by -15% and I had cut 10% of the positions on my team at work. My life didn't change. Everything was fine and my favorite restaurant had less wait time. But, many many many other people were getting hurt economically.
    1
  20. Go to FRED. Look for low unemployment time periods that extend out for a few years. Remove any time periods with high inflation.
    1