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Alarming hissing sound coming from China's economic bubble

 
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raspberry-blower



Joined: 14 Mar 2009
Posts: 1780

PostPosted: Sat Oct 20, 2018 10:32 pm    Post subject: Alarming hissing sound coming from China's economic bubble Reply with quote

The economic powerhouse that is China - is it all a mirage?
More importantly, there are extremely ominous signs that China's ginormous debt bubble is showing signs of bursting.

China's economy is no longer growing at "break neck speed"- it recorded its slowest growth rate in years (this is before going into have the figures been diddled argument):
Asia Times: Slowing China growth harks back to the great recession

Putting the figures into context:
TAE: Bubbles, balloons needles and pins

Ilargi wrote:
Now of course, if Beijing keeps on presenting all those growth numbers that look so solid, it’s asking for it. Moreover, the Party has lost control over the shadow banks, and it couldn’t act to regain that control if it wanted. It could initiate a program to forgive debt owed to national banks, but what’s owed to the shadows will have to be paid. We’re talking many trillions.

The Party has let the shadows in, because it made its own debt numbers look so much better. But when this whole debt balloon, on which so much of the GDP growth has rested, and the roads to nowhere and empty apartment blocks and cities, starts to pop, who are the Chinese going to turn to? For that matter, who is Xi going to turn to?


As for the scale and quality - or extreme lack of - this video gives a clear example of what the Chnese property bubble looks like close up
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kenneal - lagger
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Joined: 20 Sep 2006
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Location: Newbury, Berkshire

PostPosted: Sun Oct 21, 2018 7:34 pm    Post subject: Reply with quote

Those buildings are horrendous. I'd seen the block of flats that fell over and took another block with it a few years ago but to see bits falling off three year old buildings to the extent that they were talking about shows a complete disregard for safety not to mention the levels of corruption that covers up what would be a major scandal in this country. And think of the carbon wasted on that crap!
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