Comments by "" (@thomasherrin6798) on "Chinese Economy, Housing Crisis \u0026 Debt | Reopening \u0026 Growing Public Anger?" video.

  1. As a Westerner I have no idea how China's or Taiwan's property market works. However, I do know that Chinese property is over leveraged as it is multiples over the World's major cities (30 x wages in China compared to 5 to 6 times wages in Western type countries), and China's average wage is a quarter of the West's, add to that that millions (50 to 65 million Approx.) of apartments are empty (That could house France's entire population) and millions (225 million square metres approx., 60m2 per apartment = 3.75 million apartments) are unfinished and the money has disappeared, then yes, I would say it has a problem, the market should be restructured to 10 to 15% of GDP, and not the 20 to 30% it is at present, that is the problem!?!
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  2. I don't see how the developers have been underfunded, they just made the saps, I mean investors, sorry, pay up front for properties not built, their businesses are over leveraged in a large part due to that, Evergrande's to the extent that it is the most indebted company in the World, anywhere else and it would have been liquidated in 2021!?!
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  3. China is very lucky, it's unfortunate he's not on the top table of the committee, but I can understand why that might not work ;-), and Tony does a good job of relaying the messages from China and not just the Western ones!?!
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  4. The West's reporting of statistics is mostly verifiable by independent means if you choose to do the homework, some western media outlets already do that for us. There is no corresponding verifiable data supplied by China and also Russia is in the same frame of mind with reporting of their data, and a lot of their data has to be extrapolated by the West due to it being unverified, it can be seen by some scurrilous people as an indication that China and Russia "may" have something to hide!?!
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  5. I think they are supporting developers to finish the properties that the monies have been paid to developers for by Chinese citizens and trying to stimulate growth to aid GDP figures, but basically all they are achieving at present is a dead cat bounce as the money men would say, as all the investment in private property is going out to pay for upcoming loan repayments of up to 1 Trillion Yuan (150 billion dollars) for 2023!?!
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  6. That debt to GDP ratio is higher than everyone's except for Venezuela, at nearly 300%!?!
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  7. Well I suppose it might be better than a new virus from China, at least we understand COVID a bit better now and any variants that may come from this unfortunate tsunami of infections that are taking place!?!
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  8. Blimey, most people can't afford what they live in at present, so I'll just pass on that, I suppose though I don't live in a city either, and our lockdowns were tame affairs to those of China, you could go out if you stayed 2 metres away from those outside your household and wore a mask, those were the days, my friend.....cue song!?!
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  9. I get the impression that the C.C.P. is throwing Money at the unfinished apartments and it is going down a debt drain, hence it's revised statement to only supply Money to "trusted" developers, I have not heard anything further about the citizens who are paying mortgages for their unfinished apartments (or not paying as the case may be) which is between 2 and 4 million apartments and will cost half a trillion dollars or so (Previously I think they released 50 billion dollars to sort the problem out in 2022), this is my understanding to date. Pettiss is bang on with his debt assessment, he really understands the way the country works (Or doesn't as the case may be), and finally debt must not exceed assets, so they have 25 trillion dollars left to burn through, at this rate, 5 to 10 years!?!
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  10. The E.U. is a set of disparate states acting as a country - ask Hungary!?!
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  11. Well the C.C.P. don't believe in religion so how in God's name would they find out!?!
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  12. China would just introduce a second amendment (Whatever that is, we don't tend to recognise it in the U.K. ;-)) and............ ignore it!?!
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