Yeah yeah, I've heard that before. There's a whole cottage industry of "experts" that have predicted the imminent collapse of China going back decades. Call me when it actually happens.
this post was submitted on 11 Aug 2023
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China's economy is stacked like a house of cards and could come crumbling down due to some unforeseen global financial shock, but then again that sounds like most modern economies. I think people just pick on China because, instead of having a group of billionaires stack up the cards, the government does it themselves.
You just described the US, UK, and much of the western world entirely. The global economy is just a bunch of "IOU"s
China is a bit different in that regard, though.
Since apartments are pretty much the only investment for private savings, there's a huge percentage of the GDP tied to construction. This bubble is not quite bursting, but rapidly deflating, leaving many regular people practically without savings.
Other countries have inflated real estate markets as well, but their markets simply are not that large in comparison (percentage of GDP).
I don't know about China, but Biden is really throwing stones from glass houses here as the leader of a country which is teetering on the edge of civil war, had a full blown insurrection in the past few years, and not only has it failed to prosecute the leader and instigator, it has allowed him to run for election again and there is a possibility of him being elected.
And this is not mentioning that so many in the highest offices "on both sides" are so hilariously corrupt in a country with its national ethos being "the land of the free".
I'm not happy about this by the way, I don't think a world order built by China would be better than the shitty one we got from the US.
I believe the correct spelling is "Land of the free^*" ^* terms and conditions may apply
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I'll drop this beautiful book here: https://en.m.wikipedia.org/wiki/The_Coming_Collapse_of_China
Americans have been predicting the collapse of China for 30+ years. It's just wishful thinking.
I love Ground News as a concept, but I always feel suss using anything which is promoted in sponsorship deal by YouTubers.
Is there anything I should know about them as an organisation? I feel by design if they were to have biases or open to manipulation that it would be really obvious..
Each specific article will show you the sources. It's kind of interesting to flip through the headlines and see how each source might describe the same thing differently.
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More than a fifth of Chinese age 16 to 24 are out of work.
Spain and other southern EU countries have experienced this, and even higher unemployment rates in the past, but with China’s rather large population, we’re about 30 million young people in a country with few safety nets.
China’s economy barely grew in the second quarter from the first and youth unemployment hit a record high in June, providing evidence of a fading recovery.
So what is Xi going to do when these 30 million hit the streets to demonstrate? Draft them and attack Taiwan?
The situation isn't really a lack of jobs, it's that younger generations don't want to work the factory jobs (because they all studied for better jobs) and there is pressure to look after parents. Not only is there an imbalance in young vs old people due to the one child policy but China also passed a law that required children to provide mental and financial support to their parents. Some parents are effectively paying their children to look after them, thereby removing them from the workforce count.
https://www.voanews.com/a/china-elder-care-law-a-struggle-for-one-child-families/1704200.html
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The post itself is dumb, so I wouldn't complain about dumb comments
Tbh, I find the hexbears quite refreshing👌
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Its far more weird how many people pick one of these countries like its a RPG faction. Can we all agree most of these countries do some totally evil things as far as governments go? Who gives a fuck how much debt they're in, they're all just printing their monopoly dollars anyways and we're stuck with the inflation. Its like people like to masterbate to their favorite team via internet comments.
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While the US sits on $32 trillion of debt....
which doesn't really have anything to do with a healthy or unhealthy economy.
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While the current amount is not great, debt itself is not a bad thing.
Like we're one to talk lmao
Reading the comments…
Wish I could block an entire instance at once. Is that a thing I can do?
Yeah, some of these posts get wild. It's a shame, since the actual communists are cool.
It is interesting seeing the left's version of MAGAts, though.
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You were dumb enough to walk into a lemmy.ml political post without knowing the background of lemmy.ml
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Doesn't China have a history of repeatedly shattering into a thousand pieces?
Most china can only do it once
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projection much
How ironic, coming from the US.
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