Chinese Economics Thread

[solarz]

Who says the buildings will have weeds and other infestations? They have been well-maintained. As many have been trying to convey here, these buildings in the supposed "ghost towns" are not abandoned and neglected. They are simply in the stage of transitioning from development to usage. It is taking longer than typically seen in the West because the scale of the development is so much larger. So while in this transitioning stage, all the development has been well-maintained by the developers as this is still their investment.

My in-laws had an apartment unit that is located in one of those "ghost towns" between 2012 and 2015. The building was built in 2012 and was in excellent shape when they sold it last year. It took the developers and the city several years to get all the permits and licenses and stuff done before people were allowed to move / buy / sell, etc. All the units in their entire building was sold out in 3 days when they were put on the market.

Before their district went on sale, it had been literally a ghost town for almost 4 years. I saw the photos myself. They got all the empty buildings, empty streets, empty malls and stores, etc. However, it's not because no one wanted to buy them. It was all the legal issues and logistics, etc. My in-laws had been getting emails, phone calls and text messages for offers for years. People had been literally waiting in line to buy and move in. However, nothing could be done without all the permits and stuff. As soon as all the legal stuff had been taken care, people wasted no time grabbing units. One of my in-laws' best friends decided to move into the new unit instead of selling it. In their last Skype conversation, their buddy complained that they had to wait 45 minutes to get into a restaurant in their new neighborhood... So I guess they are no longer a ghost town...

That reminds me of another platitude western so-called experts like to trot out, that Chinese invest in real estate because they don't have better options.

Technically true, but that's only because in China, real estate is an amazing investment for those who can afford it. You can easily lose your shirt on the stock market, but real estate is pretty much guaranteed to appreciate. The only question is how fast.

Anyone who actually understands China knows that there is an enormous, nay, gigantic, demographic pressure toward home ownership. The demand for housing is only going to grow as more people move off their farms and villages and into cities and towns. The HSR infrastructure has allowed China to expand the reach of economic centers, so that people do not have to all compete for the same speck of land in Shanghai or Beijing.

 

[PiSigma]

Never let facts get in the way of good western propaganda. For the critical thinker, try reading more than one article.

I don't know why you guys bother writing pages of reply for essentially one liners. Our critical thinker is not going to read it or comprehend it or believe it because it does not align with his view point.

Just ignore and move on. Especially these topics that's been done before. Don't feed the troll!

 

[vesicles]

That reminds me of another platitude western so-called experts like to trot out, that Chinese invest in real estate because they don't have better options.

Technically true, but that's only because in China, real estate is an amazing investment for those who can afford it. You can easily lose your shirt on the stock market, but real estate is pretty much guaranteed to appreciate. The only question is how fast.

Anyone who actually understands China knows that there is an enormous, nay, gigantic, demographic pressure toward home ownership. The demand for housing is only going to grow as more people move off their farms and villages and into cities and towns. The HSR infrastructure has allowed China to expand the reach of economic centers, so that people do not have to all compete for the same speck of land in Shanghai or Beijing.

Yep! My in-laws' current apartment was 500K (Chinese Yuan) when they bought it about 10 years ago. Last year, my father-in-law wanted to test the water. So he put their unit on the market with a price tag of 9 million (Chinese Yuan). And no, that's not a typo. It's 9 million Yuan (About $1.5 million). And he got ~20 phone calls on the first day. Half of them wanted to pay cash and move in within a week. After about a week, he finally took it off the market because the phone calls had become so unbearable...

So demand is definitely there. The housing price is still too high because supply cannot keep up. So they should build even more.

 

[manqiangrexue]

Never let facts get in the way of good western propaganda. For the critical thinker, try reading more than one article.

I don't know why you guys bother writing pages of reply for essentially one liners. Our critical thinker is not going to read it or comprehend it or believe it because it does not align with his view point.

Just ignore and move on. Especially these topics that's been done before. Don't feed the troll!

Personally for me, I do so because I like writing, and I like making fun of people who try to hide their obvious hatred and envy behind poorly-thought out criticism. Also right now, it's kinda boring; if there were tons of info on J-20, etc... pouring out, I wouldn't waste my time on someone with so little left, he's resorting to pulling stories out of his derriere about weeds destroying modern city buildings.

 

[PiSigma]

Personally for me, I do so because I like writing, and I like making fun of people who try to hide their obvious hatred and envy behind poorly-thought out criticism. Also right now, it's kinda boring; if there were tons of info on J-20, etc... pouring out, I wouldn't waste my time on someone with so little left, he's resorting to pulling stories out of his derriere about weeds destroying modern city buildings.

Didn't you know that there are super strong mutated weeds growing for the last couple of years due to radiation from a certain nuclear power plant, that will soon gain sentience. And eventually take over the world with their superpowers and fast growth, steel destroying strength and radioactive properties. The radiation is all a huge military experiment and they created a fake earthquake and tsunami to cover it all up. Why do you think people never move back and there are real ghost towns everywhere. It is because super doper secret government coverup on all the secret projects they are working on now there. Next year we are going to see gundams, the year after a new spaceship called yamato, and the year after psychic schoolgirls in super short mini skirts.

Sarcasm off

 

[Equation]

Didn't you know that there are super strong mutated weeds growing for the last couple of years due to radiation from a certain nuclear power plant, that will soon gain sentience. And eventually take over the world with their superpowers and fast growth, steel destroying strength and radioactive properties. The radiation is all a huge military experiment and they created a fake earthquake and tsunami to cover it all up. Why do you think people never move back and there are real ghost towns everywhere. It is because super doper secret government coverup on all the secret projects they are working on now there. Next year we are going to see gundams, the year after a new spaceship called yamato, and the year after psychic schoolgirls in super short mini skirts.

Sarcasm off

Sarcasm on

Shhhh...the spaceship Yamato is under hiding.

 

[vesicles]

That reminds me of another platitude western so-called experts like to trot out, that Chinese invest in real estate because they don't have better options.

Technically true, but that's only because in China, real estate is an amazing investment for those who can afford it. You can easily lose your shirt on the stock market, but real estate is pretty much guaranteed to appreciate. The only question is how fast.

Anyone who actually understands China knows that there is an enormous, nay, gigantic, demographic pressure toward home ownership. The demand for housing is only going to grow as more people move off their farms and villages and into cities and towns. The HSR infrastructure has allowed China to expand the reach of economic centers, so that people do not have to all compete for the same speck of land in Shanghai or Beijing.

Most of the migrant workers who currently work in big cities still don't have good housing at all. Mostly because they were not allowed to buy properties in the cities. I think the Chinese govn't is relaxing those restrictions now. As wages of migrant workers have been going up steadily, they will have enough disposable income to buy apartment units. So you should expect a huge spike in the housing market in the near future, despite what the "experts" have been warning us about the "housing bubble".

Like in Texas, China's housing market is not a bubble. It's a simple supply and demand. Majority of Chinese population is still yet to own their first house/apartment. That's a huge huge potential. So this is nothing yet. I expect an even bigger boom in housing in the next 10-20 years when the bottom 50 percenters finally save enough money to buy their first house.

 

[antiterror13]

Although Japan's population is like you said declining it is still in no dire threat( to my knowledge less then 0.2% from peak at the moment). The greying situation is also a problem as well but with various social safety nets and a very active/healthy elder society wanting to keep working after 55 it's not as bad as SK or PRC.
As for ghost towns, there are none that was one from the beginning and most are more like villages then cities with skyscrapers.

As for affiliation to the Japanese ethnic group, not really. I was raised in the US when I was young and I consider myself as a critical thinker based on facts.

huhhh, critical thinker? well, only others can have opinions of yourself ... not from yourself ..... you are really funny definitely not from me and from many others in this forum at least. I consider you are heavily biased based on facts that you like to read and ignore other facts that you don't like

I can see you spend a lot of time googling to find articles that support your biased opinions and ignoring other articles or facts ... is that correct @SamuraiBlue ?

and then suddenly Eureka!!!! .. you become an expert of everything

 

[montyp165]

Personally for me, I do so because I like writing, and I like making fun of people who try to hide their obvious hatred and envy behind poorly-thought out criticism. Also right now, it's kinda boring; if there were tons of info on J-20, etc... pouring out, I wouldn't waste my time on someone with so little left, he's resorting to pulling stories out of his derriere about weeds destroying modern city buildings.

Considering that even some of the fiction forums I've been on would have treated such oneliners and biased presentation as a bannable offense as being chanlike behaviour at a minimum to arguing in bad faith or even outright trolling, I for one would think that a more serious discussion topic should at least be held to that minimum standard of discussion.

 

[broadsword]

yes, exactly

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