Comments by "Merlin Geikie" (@merlingeikie) on "China Housing Crisis Smashes Govt. Revenue | Taiwan | Chinese Economy" video.

Thanks, Tony. Communist China does not run a capitalist system except in the same way that it runs a people's nation. Capitalism is grounded upon private property, the individual and their savings and risk. This doesn't happen in any way in communist China. There are no bankruptcies and the state ultimately owns all the people, all the land and all the assets, so it's not capitalistic at all. It is a bureaucratic state like the other communist states. Everything is a declaration. A command economy declares what things will be and so it ends up being just words. The high speed rail sounds like it'll be connecting some very important silent cities with other very important silent cities, transporting large numbers of silent people and making extraordinary silent profits for an essentially silent nation, with a noisy regime.
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Not their problem. Short term thinking leads to long term failure. We call this Communism.
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Even the 'proper' vaccine has large risks and doesn't prevent infection or contagion.
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@alanparsonsfan As long as the property os privately owned and there is a price signal, mistakes will be limited. Folks can take risks and go broke, that's all part of being careful and prudent.
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@johntaylor2683 Nope! applies across western world, smallest unit of government bureaucracy. The US reflects general western culture, but there are differences.
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@johnercek Everything is owned by the Leninists state. That'll only change in post communist China, which is coming soon.
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