As per the recent world bank estimates, China is going to grow at 5x the growth rate of the US and about 15x the growth rate of the EU.
Chinese Economics Thread
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Real estate price is indeed going down, however, you can’t really compare it with London/Sydney , housing location decides which school your kids are going , there’s a deep bond between housing and education resources, which fundamentally changes the very nature of Chinese real estate.
And , I don’t know why people would want housing price to “crash ” instead of landing steadily, y’all should know all the problems that some people claims to be caused by real estate prices are in fact , a normality in capitalism, you gotta pay that much to live among the best or let your kids study with the elites’, if it’s not housing, it would be golf course/ extremely high tuition.
If you don’t desire such things, there are cheap houses all around China, just leave those big cities, let your kids study among plumbers’, you’d save a lot of money, but if you do desire such things, you gotta pay up to it, one can’t have it both ways.
I honestly don’t see the problem here, high real estate price is the outcome of rapid growth, it’s only natural, now economy is slowing down, so will the housing price, having said that, properties of high values like houses in T1 cities won’t coming down that’s for sure.
Just do not update the software duh. Or pirate, crack them if you want newer one.
China's largest banks just lower their interest rates for yuan deposits, completely opposite of world wide trend. Inflation is minimun and Chinese have been keeping large piles of money in the banks. To cut down on interest payments and to further sitmulate the economy, banks are lowering interest rates to discourage savings and encourahge spendings without much fear of inflation. While both China and the West are having the same aim i.e. encouraging spendings to stimulate their economies, Chinese have the advantage of huge savings accumulated in the last few years due to covids, while the other econmies were spending madly on credits. Remember Boris Johnson's free monies on street meals and Australia free monies on covid payments and travels? Covids has certainly changed the world's economic dynamism.
This is the only way to end US evil deeds and bring peace and prosperity to the rest of the world.
It’s the dollar rate that was lowered, not Yuan rate. This will encourage dollar selling for Yuan, bringing the exchange rate back.
Local governments' finances saw a revival this year. From January to April, Chinese local governments generated a total of RMB 4.56 trln in fiscal revenue, up 14.8% YoY, data from the Ministry of Finance (MOF) showed..
In the Q1 of this year, most ’s provincial-level governments registered positive growth in fiscal revenue, with Henan Province and Ningxia Hui Autonomous Region logging over 10% growth, according to data released by local governments.
In the Q1 of this year, most ’s provincial-level governments registered positive growth in fiscal revenue, with Henan Province and Ningxia Hui Autonomous Region logging over 10% growth, according to data released by local governments.
