Comments by "Kenz300 x" (@KJSvitko) on "20m Empty Homes: The Story of China’s Housing Bubble | Putin To Visit China | EU-China" video.

  1. 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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  2. Don't be overly reliant on Russia or China. Neither can be trusted. Europe, Germany and the rest of the world have been too slow to transition to wind and solar energy and all electric vehicles. Wind and solar energy do not need to be imported and can be produced locally in any country. Europe needs to provide incentives for homes and businesses to install electric heat pumps and get rid of old polluting gas and oil boilers. The move to electric vehicles will also be sped up. There is no good reason to help fund Putin's war by buying oil, gas and coal from Russia. There is a Climate Crisis making weather events more extreme. Time to switch to renewable energy. The future is renewables. They are safer, cleaner and cheaper than fossil fuels. It is time for governments to end fossil fuels industry subsidies.
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