cross-posted from: https://lemm.ee/post/45792214
This is an old story, except for the LA Times. The guy on Money and Macro explains the situation better in this vid: https://www.youtube.com/watch?v=7bOSWQttmvU
First you steal peoples’ money in endless real estate Ponzi schemes. Then you act surprised that they don’t have any money left to spend.
It is not the Chinese working class is who is getting soaked by those, it is foreign and domestic capitalists.
- Reuters: China Evergrande ordered to liquidate in landmark moment for crisis-hit sector
- Bloomberg: China Reiterates Stance That Homes Are Not for Speculation
- CNBC: China’s housing minister says real estate developers must go bankrupt if necessary
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“We will scale up the building and supply of government-subsidized housing and improve the basic systems for commodity housing to meet people’s essential need for a home to live in and their different demands for better housing,” an English-language version of the report said.
I’m definitely going to trust a .ml on a topic about the Chinese government
Le big tankie Bloomberg and evil stalinist CNBC
I would tell you to go back to your echo chamber but if you don’t even trust sources from pro-capitalist, pro-west sources, just because a “tankie” sourced it then you’re way too far gone for any form of discussion
Amazing. Even Western corporate media articles magically transform into propaganda when posted by le evil tankies.
🍆 ✊
