Comments by "Kenz300 x" (@KJSvitko) on "Inside a Chinese Ghost Town of Abandoned Mansions | WSJ" video.

  1. China's economy will further decline in 2024. There will be stock loses. Bond loses, more property developer bankruptcies, more retail store closings, more bank bankruptcies, more local governments going broke and more unemployment. China has not hit the bottom yet. More pain to come. Only a huge national government bailout can slow the decline and the damage.
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  2. Lie, cheat and steal are all too common today. China allows too much corruption. Theft of intellectual property is common. Spammers, scammers and phishing accounts are common and not prosecuted. Disinformation is a common tool to divide people and rally supporters. You can not trust any numbers produced by companies or the government from China. Society can not function if no one can be trusted to tell the truth.
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  3. China's economy is much worse than people are reporting. Unemployment is rising. 16 -24 year old unemployment is over 30% Unemployed people are not huge consumers. They do not buy homes. They do not get married or have children. Individuals, foreign corporations and investors are fleeing cities and the country. Numbers reported by the government can not be trusted. Steel production collapse is a good example of the huge decline in the economy. The property developers collapse is starting to ripple thru all its suppliers. Steel is the most visible. More to come. The house of cards built on debt is not sustainable. The Ponzi scheme has been exposed. China's real estate industry is bankrupt. This will impact the rest of the economy and then the rest of the world. There is no 5% GDP. It is a made up number. GDP is 0%. China will export deflation to the rest of the world in 2024.
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