this post was submitted on 03 Aug 2024
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China
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What needs rescued in China, I feel like the article is missing some context and is starting with the assumption that everyone just knows china needs to bail things out.
Am I just this out of the loop?
China's undergoing a (controlled) demolition of its real estate speculation market, returning it back to being an industry and foundation for the people, rather than finance. All the developments are still there, and the actual industry (not speculators, actual productive capabilities) will remain as well, and unlike in the west there's no mass evictions and impoverishment of the people, either.
Naturally, the west thinks this is a bad thing and a sign of collapse...
American bond holders need saving, thus chinese goverment must go in debt to save them
The context is that the West doesn’t know how any of this works. You’re not the one who’s confused.
They know how it works it's just that their goals are antagonistic with the evil CCP's. The IMF, which is gravely concerned about China and the Chinese, wants houses to be speculative assets so that they are overpriced and there are a ton of homeless people a la USA.
That’s of course what they wanted: to neoliberalize China. And the fact that they thought they might get it is funny.