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.
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
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.
https://mediabiasfactcheck.com/ground-news/
EDIT: Come on, don’t shoot the messenger…
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
More than a fifth of Chinese age 16 to 24 are out of work.
Does that include people in school?
No. School is “work” in that statistic.
Am I supposed to believe a 1/5th of 16 year olds aren’t in school?
Yeah I was going to say that seemed like a weird range to cherry pick. I have to imagine the 16-17 crowd in the US is like, 25-50% employed at best, and that’s 2/9. 5-6/9 in that range are school age if you count college.
I wonder what that looks like for the US
it’s 7.5% for the US and 13.9% for the Euro zone. India, which has a similar population to China is at 17.9% which is so much lower than I would have imagined.
The post itself is dumb, so I wouldn’t complain about dumb comments
Tbh, I find the hexbears quite refreshing👌
Big fan :)
I had a look cause you made me curious… It’s just hippies. “Disassociating from the system will destroy it” “I’m sick of furry porn re-enforcing capitalist ideals” “The only reason you’re not a Marxist is that you didn’t really ‘listen’ when you were in college. Wait is Marxism the bad one?”
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.
Isn’t China undergoing deflation?
I haven’t heard about that but I doubt it. Deflation is horrible. It stops economies from functioning. Your money will be worth more the longer you wait to spend it, so you don’t spend it until you need to. No government is going to let deflation happen without something going horribly wrong, which it might be, idk.
Edit: apparently the consumer sector experienced deflation. I believe that means it shrank, not the value of money increased over time, which is what is implied by inflation/deflation without other context. I could be wrong though. Either way, it doesn’t look great.
I just wanted to say thanks for explaining this in a way that is helpful to idiots like me.
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Ground News isn’t a source per se. They provide links to various news sources so you can see different viewpoints on the same story. They try to align the sources left and right and indicate their factuality but that is just meant to be a guide to allow you to challenge your viewpoints or determine factuality and to make it clear what the ownership structure might be guiding them to write.
I’ve been a paying subscriber for 4 or 5 months after finding them and find it quite reasonable and interesting.
https://ground.news/rating-system
tl;dr they buy those ratings from press rating agencies and then average them.
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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.
It’s a little different when you’re the world’s reserve currency.
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.
If you’re a fan of genocides and totalitarian regimes then yeah, communists are cool.
That’s fair. I did not know the background of lemmy.ml or hexbear and I’m certainly learning that users from particularly the latter are somewhat unstable. I just subbed to a bunch of top news communities when I joined Lemmy. That’s on me lol.
If it works for you, good. I did the same for ‘politics’ which is just us politics. I still look over the fence occasionally though.
On Kbin, individual users can block instances. By going to https://kbin.social/d/**instance.name**
You can’t block instances but you can block the lemmy.ml and hexbear.net magazines, which are all tankie hell.
lemmygrad is the tankie one, pls don’t block me
I’m gonna keep .ml blocked for as long as they are federated with hexbear, they are annoying as fuck. Also lemmy.ml is super pro-china so it is pretty tankie, might have changed with the reddit migration, but, eh.
It was my impression that lemmy.ml is lemmgrad with a mask on, to pass as somewhat reasonable to the rest of the fediverse. On lemmagrad they just spew their bullshit with no filter.
You’re probably right, they probably bought the .ml domain to refer to marxism-leninism .
Doesn’t China have a history of repeatedly shattering into a thousand pieces?
Most china can only do it once
And you’re from the Permanent Kingdom of Perfect Stability where borders never change powers do not rise and fall?
I’ll take that as a yes.
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Dude, on lemmy consent is just not as heavily manufactured by capital interest as on other platforms.
Its the absence of bots you’re experincing and possibly some withdrawal symptoms.
All good we’re here for you, one doesn’t get off of propaganda easily
You are a DNC bot.
Hey everyone! This guy is right tho! I can confirm, I’m a ccp bot. You see my maintainers been running low on social credits for some months now. need to earn some yk?
Is everyone who disagrees with you a bot with an army of bots?
Get over yourself. Lemmy is neither large enough nor significant enough to attract that kind of attention. Is it that hard to believe that there are different people with different beliefs?
You’re the reason democracies in North America are becoming increasingly polarized and radical in their beliefs.
Lemmy is neither large enough nor significant enough to attract that kind of attention.
Never underestimate the power of information influence in social circles.
projection much
