• gnuhaut@lemmy.ml
    link
    fedilink
    arrow-up
    166
    arrow-down
    8
    ·
    1 year ago

    Yeah yeah, I’ve heard that before. There’s a whole cottage industry of “experts” that have predicted the imminent collapse of China going back decades. Call me when it actually happens.

    • ImplyingImplications@lemmy.ca
      link
      fedilink
      arrow-up
      53
      arrow-down
      15
      ·
      1 year ago

      China’s economy is stacked like a house of cards and could come crumbling down due to some unforeseen global financial shock, but then again that sounds like most modern economies. I think people just pick on China because, instead of having a group of billionaires stack up the cards, the government does it themselves.

      • somename [she/her]@hexbear.net
        link
        fedilink
        English
        arrow-up
        98
        arrow-down
        5
        ·
        1 year ago

        Even if that shock happens, China will still be in a better situation. Like, they actually manufacture stuff there, and the government builds infrastructure aggressively. That’s two massive benefits to economic security and health.

      • spectre [he/him]@hexbear.net
        link
        fedilink
        English
        arrow-up
        60
        arrow-down
        3
        ·
        1 year ago

        The Chinese government stacks the cards though it actually has the capability to use some toothpicks to hold them in place, and will immediately rebuild it things start to fall apart.

        To contrast, the US will flounder and pull their one “low interest rates” lever while having a political blowout over some sort of stimulus funding package that probably won’t pass.

      • Frank [he/him, he/him]@hexbear.net
        link
        fedilink
        English
        arrow-up
        18
        ·
        1 year ago

        Well, actually it’s because China’s roaring economic success is both deeply embarassing and existentially dangerous to international fascism and it is absolutely vital that they both discredit China and prevent their thoroughly indoctrinated population from learning anything about China at all costs.

      • mommykink@lemmy.world
        link
        fedilink
        arrow-up
        25
        arrow-down
        9
        ·
        1 year ago

        You just described the US, UK, and much of the western world entirely. The global economy is just a bunch of "IOU"s

        • AggressivelyPassive@feddit.de
          link
          fedilink
          arrow-up
          19
          arrow-down
          1
          ·
          1 year ago

          China is a bit different in that regard, though.

          Since apartments are pretty much the only investment for private savings, there’s a huge percentage of the GDP tied to construction. This bubble is not quite bursting, but rapidly deflating, leaving many regular people practically without savings.

          Other countries have inflated real estate markets as well, but their markets simply are not that large in comparison (percentage of GDP).