All those folks who paid for these properties - are paying the mortgages... + paying for a place to live...
They won't be buying a lot of Gucci anytime soon ...
Recall how it took years for the US property market blow up - watch The Big Short.... the China market is a far bigger bomb so the Commie Party will throw everything at this situation to delay the explosion
Think we need a conversation starter here. Soooo... FastEddy.... is this one fake? I have my suspicions, but I keep entertaining something next level.
I've done business in China for 25+ years... the place is a total fucking basket case...
https://fasteddynz.substack.com/p/this-will-end-badly
There property disaster is far worse than that in the US in 2007.... this cannot be fixed ... https://fasteddynz.substack.com/p/china-120000000-unfinished-homes
All those folks who paid for these properties - are paying the mortgages... + paying for a place to live...
They won't be buying a lot of Gucci anytime soon ...
Recall how it took years for the US property market blow up - watch The Big Short.... the China market is a far bigger bomb so the Commie Party will throw everything at this situation to delay the explosion
But it will explode... it must
Oh and BTW - zombie corporations are not unique to china...
It's a global phenomenon https://kpmg.com/au/en/home/media/press-releases/2024/10/number-of-zombie-companies-continues-to-grow.html
This can't be true, China collapsed 20 years ago.