GREY:NEVDQ - Post by User
Post by
bogfiton Dec 05, 2023 9:35am
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Post# 35768706
China - a riddle wrapped in a mystery inside an enigma
China - a riddle wrapped in a mystery inside an enigmaThe more I learn about China’s economy and debt structure the less knowledgeable I become. I have learned that more than 20% of China’s youth are unemployed, but also that 8.5 mn people are designated as defaulted debtors of mortgages or consumer loans, who have lost basic rights of citizenship including employment opportunities and travel restrictions. The negative consequences of China’s decade of “wild west” development is slowly coming to the surface as evidenced of the millions of homes purchased and mortgages lent, but the homes were never built.
The agony of Evergrande investors twisting in the wind continues as no practical acceptable settlement has been found, while multiple shadow banks fall quietly in the background. Losses are losses that must be accounted on someone books, but the struggle now is to dump as much on the other guy as possible.
Those who understand the enormity of China’s financial house of cards are positively desperate to conceal the truth as long as possible, evade arrest, or leave the country before it all falls down.
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