Comments by "annoyed aussie" (@annoyedaussie3942) on "What's behind the collapse of Chinese property development giant Evergrande? | DW News" video.

@user-mb3dx5fl9f Nobody can solve China's internal issues but China and I don't see things being as dramatic internationally as you think. I am Australian and we are the fourth largest individual exporter to China and this will dramatically affect us but it's nothing we haven't been through before being a country built on free trade and commodity exports, maybe Australia has a significant recession soon. China will still be exporting stuff, it's just there domestic market is in for a downturn.
6
While it might not be good for other countries it's not as bad as the GFC for example because the financial connections around the world from China are not as great. Some nations for example Cambodia where the Chinese foreign investment is very high might have significant effects. If China melts down however the secondary effects might be more concerning, even though much of the world doesn't like the Chinese authoritarian regime it is stable. I do hope it's a relatively soft landing and China doesn't have a Communist revolution or something, noting the extreme wealth disparities and actually continues to move towards a socialist system like that of wealthy nations protecting the vulnerable.
2
@user-mb3dx5fl9f worrying about something that you can't do anything about isn't going to get anyone anywhere, I don't know where you are from but there's only 3 things a country can do to protect itself, good market regulation, a fiscally conservative government so firepower is available in a crisis and a functional government with a relatively happy population. Australia scores reasonably well on these measures, certainly could be better though. How does your country perform? Your analogy of a neighbor with their property on fire is different because you can probably intervene to stop the problem getting bigger.
1
@user-mb3dx5fl9f I certainly wouldn't cheer the Chinese economy collapsing and said I hope they have a soft landing and continue to move in the direction of having a better and better social safety net. I am realistic though about the possible situation. One thing you indirectly touched upon is government helping with transitions and Australia as we have strived to be a free market economy and done that well in an overall sense but haven't been very good at helping those affected by the transitions. So without knowing exactly what you are referring to I do agree government plays a big role in softening blows, often psychological as in mental health and think Australia could improve in that respect.
1