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China Economy Crumbling Down!!
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China Economy Crumbling Down!!
With their housing market collapsing, the Chinese economy is something worth watching wherever you may be in this world. This could be a repeat of the 2008 crash. Hmm Who watched the Big Short? I’ll try to make updates in this thread. Worth watching 🤓
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3 Replies
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Hmmm interesting.. following this one.
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Check this article > https://fortune.com/2022/08/17/china-property-crisis-housing-bubble-viral-video-official-says-buy-homes/
The residents in China’s cities(more than 100 cities accross China) are staging an unprecedented show of resistance against the government. They refuse to repay loans for unfinished properties, which has been one of their most widespread acts across all levels — from small-time protests like this one up through major nationwide protests.
The real estate market is a disaster. The prices have fallen, more people are out looking for jobs and the banks don’t want to give them any loans because they’re afraid that if something happens in this economy then those borrowers won’t be able recover financially ever again!
Seems like a glimpse of 2008 market crash hmmm
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