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China Rejects $1 Trillion Housing Rescue Plan Pitched by IMF
(finance.yahoo.com)
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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...