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Re <<China could easily supply them as they are currently unemployed>>
yes and no, possibly and perhaps
(1) I shall refrain from dumping on collective MSM on laughably skewed reporting on China
(2) I shall not mention the always-present deep-state
(3) I shall veer away from alerting to the agenda of the uni-party
(4) My opinion
a. China is a managed state
b. Manager is the CPC
c. The ‘mandate from heaven’ is with the CPC as long as the CPC is delivering
d. There are two governments in the world that are afraid of the people over which they rule, one is in Hong Kong and the other in Beijing
e. Chinese have much patience due to wisdom, and so the civilization is ancient, and given patience cut a lot of slack to the governance system and the governor
f. In HK we have a CEO (John Lee), useful at this juncture in unstable times
g. In China (mainland) they have Core Comrade, his name be Xi Jinping
h. Useful to delve into the history of Xi Jinping and I append some links Message 34324306
i. Fundamental question: does XI Jinping want to and has he done something good for his people? Answer, yes, for most of the people, perhaps because he cares
j. Re the the minutia of real estate this, unemployment that, banking something else, and even re demographics, question, here be the short answer –
i. Can go back 5,000 years but will not :0)
ii. China growth model 1850 – 1950, to survive near-continuous foreign invasions, encroachments, and persistent civil strife, warlordism, and civil war
iii. China growth model 1950 – 1980, political struggles over development policy, to the point of near-military coup, albeit China military is actually not an arm of the government but a function of the CPC political party. Disaster following wrong turns.
iv. China growth model 1980 – 2010, based on aggregation of capital, low-end manufacturing, export, based on mobilization of inexpensive labour, overlapped by …
v. China growth model 2000 – 2023, based on cheap capital, much of it aggregated domestically off of mobilization of savings, and inexpensive labour, and all-in on infrastructure construction (including housing)
vi. China growth model 2010 – 2023, based on value-packed intellectual capital that displaces some foreign investments, and expands outward from China
vii. China growth model going forward, based on desire for quality against quantity of GDP, more and affordable domestic consumption, and clean / sustainable domain. We are at the juncture of change.
viii. Given above narration, the comeuppance for the real estate developers is not bad but necessary albeit jarring pivot
ix. But, no, do not worry about China banking sector, for the sector is a public utility and not a sovereign state within a state, or hedge funds :0)
x. Given narration to this point, cheaper apartments are good, and in truth, cheaper everything okay
k. Pretty much all issues, including trade war, IP battle, governance campaigns, etc etc can be viewed following above preamble, and no, unlikely that Xi Jinping is a dictator, for he and family are accountable big time for a long time, and he knows it.
