Comments by "Vale Tudo" (@valetudo1569) on "CNBC Television"
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@bobcharles7716 Let me explain something else to you - your PPP measure of economics is just a theory - it relies on the thinking that the yuan was grossly undervalued, that it would appreciate against the dollar and that will carry it to being a bigger nominal economy. Not only is it a theory based on future projections - the exact opposite has happened in China. The currency has depreciated, the population is shrinking faster and sooner than expected, the property bubble is bursting - with 70% of household wealth in property. Not only is there no sign that China isn't changing it's model in the foreseeable future - it would still have to undergo an extremely painful rebalancing period that would take many many years, similar to Japan.
Lastly - I live in China and have for many years, I speak Chinese, and I see it first hand. Nobody here feels like they are winning - since Zero Covid, all of my friends who had the money to leave, have left or will be leaving in the next year. Others want to leave but cannot. They aren't buying homes, and many are seeing the value of the homes they own - fall. You are doing yourself a disservice by believing all of this fake news about how great things are going here, because its all propaganda
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