George Soros warns China is facing an economic crisis

[Grantx]

You can keep promote George's agenda. But his days are over. His prediction of all the downfalls never happen.

Whatever. It has little to do with stock trading. Just some old dying guy making some noise.

Do not want to respond any longer. Waste of time.

Things he says have collateral consequence which are hidden to you and me. Its irrelevant what the eventual outcome is.

 

[UsualName]

Ok then... China’s economic condition is entirely manipulated by the CCP. The economic data you read is reviewed and modified to meet political economic agenda and is as accurate as their covid count. When there's no money, there's suddenly money and whatever hardship on the people is theirs to bare in silence. Local and regional officials are there to serve as fuses should silence be broken by a wave of anger.
Real estate developers have been over building for at least a decade and there are plenty of ghost towns in China to account for that. The government clamped down and, well, developers start to fall. But who will suffer? Not the developers who ran with their money for western pastures. Not the banks because too big to fail. The apartment buyers maybe? That's the silence of the lamb and wave of discontent part where lower level politicians are made examples of.

Sorry, probably not economic enough.

Im just going to piggy back off of this and add a quick point. The Chinese local governments have been funding themselves with about a third of their revenue coming from real estate sales. The impending collapse or cooling off will have a systemic impact down to that level. The extent of the impact, who knows but China is not walking away from this unscathed.

https://www.bloomberg.com/news/arti...ollapse-due-to-slow-economy-real-estate-slump

 

[SunTrader]

Ok then... China’s economic condition is entirely manipulated by the CCP. The economic data you read is reviewed and modified to meet political economic agenda and is as accurate as their covid count. When there's no money, there's suddenly money and whatever hardship on the people is theirs to bare in silence. Local and regional officials are there to serve as fuses should silence be broken by a wave of anger.
Real estate developers have been over building for at least a decade and there are plenty of ghost towns in China to account for that. The government clamped down and, well, developers start to fall. But who will suffer? Not the developers who ran with their money for western pastures. Not the banks because too big to fail. The apartment buyers maybe? That's the silence of the lamb and wave of discontent part where lower level politicians are made examples of.

Sorry, probably not economic enough.

No actually it was on point. Rather than side issue of Taiwan. Although you had to throw in questioning the validity of their economic data which clearly shows numbers dropping draaaamatically. How do you account for that?

Now before you go foolishly making a claim you can't back up, about their numbers - I can't either - remember we are talking about an economy (put aside who or what party controls it) of 1.4 billion people.

 

[RedSun]

Things he says have collateral consequence which are hidden to you and me. Its irrelevant what the eventual outcome is.

He can say whatever he wants to say. Can be his bad blood with Communist China and Hong Kong. Not sure what this has to do with ET.

 

[VicBee]

No actually it was on point. Rather than side issue of Taiwan. Although you had to throw in questioning the validity of their economic data which clearly shows numbers dropping draaaamatically. How do you account for that?

Now before you go foolishly making a claim you can't back up, about their numbers - I can't either - remember we are talking about an economy (put aside who or what party controls it) of 1.4 billion people.

It reminds me of Mao's agricultural revolution, where data gatherers were so afraid of getting shot that production yields were always high while a million people starved to death.
There is no dissent in dictatorships.Things might have evolved a bit, but data today still reflects what government wants it to be. The only cracks in the facade in when there are challenges within the party. Today Xi seems solidly in control, so challenging economic data reflect his agenda.
Foreign banks have rushed into China recently, but I can assure you that none will take the risk to openly question government economic data, positive or negative. The analyses they can muster will be sent back to corporate in western capitals who will quietly provide more accurate accounts of China’s true economic reality.

 

[SunTrader]

It reminds me of Mao's agricultural revolution, where data gatherers were so afraid of getting shot that production yields were always high while a million people starved to death..

Stuck in the past.

Ok your opinion. I could reply with mine but that is all we would be doing, exchanging opinions.

I prefer to watch what is actually happening - economically. Fack politics - here there same difference.

 

[The_Krakenite]

For those who read 'Aftershock', it was predicted years ago the Chinese real-estate developers would go belly up causing a disaster in that sector, with the banks going under in China soon after.

Looks like things are going right on schedule...

As much as some people like to criticize the dooms-day sayers, it seems they got this one right.

 

[Pricechange]

Aside from the politics, Soros has been deeply bullish on China "financially" since 1998. With this post, he is just diverting attention away from his successful destruction America (financially). He is probably also hoping to add a little panic to china assets so he can buy more at cheaper prices. This is the way billionaires were made in his Russia and UK exploits. Assets over-extend...then state governments come in and nationalize for a period... then sell off the pieces to insiders at a fraction of their worth (See:HNA) and his much much earlier (American Aviation LCD)

Its not really very odd or difficult for a communist country to nationalize large volumes of high-rise housing towers (a bailout of a builder is a backdoor way of doing it). Especially when the people taking the haircuts are the offshore bondholders. Soros and good friend Barney Frank were hoping to do this exact same thing in US back in the mid 2000s when China was holding massive amount of US bonds.

https://www.cato.org/commentary/you-lose-soros-wins

 

[SunTrader]

Right wingnuts do their fair share of raping the sheeple too.