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China popped its real estate bubble and now is promoting social housing (www.scmp.com)
submitted 2 years ago by [M] to c/china@lemmygrad.ml
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"China's Ministry of Housing asked local governments in hundreds of cities to “vigorously” buy unsold commercial homes and convert units into affordable housing for the working class." -Ben Norton

"Isn't it ironic that the Chinese housing bubble was cited across the West as a "failure" of the Chinese gov when it was in fact created by runaway private enterprise, only now being resolved by Beijing's intervention...?" -Brian Berletic

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[–] 2 points 2 years ago

Unfortunately not every other government. Take the whole Eurozone, for example, which has ceded control to the cartel of European private banks. Or Argentina, where Milei recently nearly had Argentina abandon its monetary sovereignty.

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