Comments by "Vale Tudo" (@valetudo1569) on "China’s Property Crisis Burns Middle Class" video.

I actually have a theory.... one aspect of this is getting rid of the rotten, speculative, and debt ridden property market...but the other is that - the CCP wants to switch to a consumption led economy, and the property sector has been sucking up a ton of the spending from consumers (70% of household wealth is in property). By making real estate not as attractive, and with the money having nowhere else to go... I think part of this plan is to force people to basically spend their money domestically on consumption.. instead of is the speculative real estate market. Of course then there are a ton of other problems that come with that as well
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@ssuwandi3240 Well I mean it wasn't that strong in the Mao era right. Do you care to mention what job creation engine there might be with real estate gone? I mean, real estate has been about 30% of GDP so far. I'd like to say that comparing an advanced market driven economy like Germany to the authoritarian and state run economy like China is a tough sell
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