Funny how everything reformists dream about is achievable only under dictatorship of the proletariat.
You’d think it would be obvious that the government works in the interest of the class that holds power, and yet most people in the west are unable to wrap their head around this idea.
achievable only under dictatorship of the proletariat
Yeah, but at what cost?
Noooo just another capitalist country noooo
That’s cool to know, hopefully this will lower property prices, I heard they’re high in some cities
It’s also worth noting that 90% of families own their home giving China one of the highest home ownership rates in the world. What’s more is that 80% of these homes are owned outright, without mortgages or any other leans.
I guess Xi is finally pressing the "communism’ button!
Is there a non-paywalled article?
Sadly couldn’t find one, saw it in this thread originally https://bird.trom.tf/michaelxpettis/status/1610265849528717318
Although we must remember here that China’s banks are fully owned by the Communist Party, and social stability often takes precedence over the raw pursuit of profit, so their lending practices cannot be compared like-for-like against those of Western banks.
I love how they can just say that aloud without any introspection.
lol right
Holy fucking shit really? I honestly thought it would be in the 2030s
I heard from a forgettable and unreliable source that their earlier crisis resolution was causing issues so that they were easing restrictions and reopening the housing speculation market.
I’m assuming they got their information from a source that was unhappy about the restrictions and wished their were issues that would cause China to change its mind, because everybody knows the pillar of a national economy is selling houses you will refuse to build.
You hear it a lot with regard to China; “if you don’t allow speculators to fictitiously inflate your economy there’s going to be a crisis”. The actual building of the houses is the economy, not the money exchanged for empty promises.
