Comments by "Twomix" (@twomix1822) on "China Update" channel.

  1. The biggest flaw is the censorship and the top down command based economy. When China first opened up and adopted some levels of market economy they were doing good. But starting in 2012 Xi started adopting state capitalism or top down command economy wholesale. This is what brought the system to its knees.
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  2. When the CCP economy collapses it's gonna pull Russia down to the abyss.
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  3. Lol... only the CCP can be so hypocritical. "PRC: We don't need the west." At the same time Marxism is our core tenet which ironically is an ideology that came from the west. 🤣🤣🤣
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  4. China is basically stuck in a conundrum. Kick the can down a few more years and watch it get worst or allow it to collapse and reform now. Looks like the central government opted to kick the can down a few more years. Even if the PRC government uses taxpayers money to buy those assets now to support the developers, it still doesn't address the fundamental problem which is the loss of consumer confidence in the Chinese real estate industry. Plus those are assets they cannot easily get rid off so all that state money is basically tied up to a bunch of non-performing assets. Unused buildings and properties are basically depreciating assets rotting under the sun.
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  5. Ironically China is the world's biggest manufacturer and exporter of fentanyl and other illegal drugs. If you think China has no drug abuse problem you're naive. Chinese society simply doesn't talk about it. China has way more problems than they cared to admit. Things like child trafficking and child slavery as well as organ harvesting is an ongoing societal problem especially in the very poor rural towns and cities. Yes, the US has gun violence problems, China has knife violence problems especially violence between spouses. Violence against women in China is rampant. An even bigger problem now is medical insurance and retirement fund, China has over 300-400M retirees by 2050 due to one child policy but the government is now running out of money to support them.
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  6. RMB is not an attractive currency because it is tightly controlled by the PRC. The PRC government tightly control the RMB flow unlike the USD which is a free flowing global currency. This is why few countries uses it despite rising global trade with China. The PRC will never relinquish tight control of its currency in order for it to become a global currency.
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