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The Economist has been predicting economic crises in China for decades, none of them have arrived
(lemmygrad.ml)
this post was submitted on 26 Aug 2023
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this doesn't mean that china has no economic issues at all. real estate, for example, must be properly managed without wiping out everyone's investments.
I don't think preserving investments is going to be the priority there, rather the focus will likely be on preserving jobs. What I think is most likely to happen is that large chunks of the real estate industry become nationalized.
yup
nationalization isn't a miracle solution.
It's a pretty good solution that worked many times in the past. Rich investors are going to lose some money on this, but that's about it and frankly that's not even a negative. Ultimately, the goal should be to remove all aspects of capitalism and move towards a true socialist economy that's a mix of state and cooperative ownership. Doing these kinds of nationalization projects helps with the transition.
i would agree, but 30% or so of the gdp is in real estate. china cannot just lose a third of its economy.
It wouldn't lose 30% of its economy when these companies become nationalized.
I think the biggest thing for them to work out is the Hokuo system (and relatedly rural development in general).