this post was submitted on 11 Aug 2023
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[–] ImplyingImplications@lemmy.ca 41 points 1 year ago (7 children)

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@hexbear.net 88 points 1 year ago (1 children)

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.

[–] jack@hexbear.net 24 points 1 year ago (1 children)

But what if all that high speed rail disappears, huh? Didn't think about that, stupid tankie.

[–] Frank@hexbear.net 14 points 1 year ago

It's a legitimate risk. Rail theft by the mole-people is up 12% in the last quarter.

[–] robot@hexbear.net 73 points 1 year ago

People (westerners) pick on China because they want it to collapse. It's entirely wishful thinking.

[–] spectre@hexbear.net 57 points 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.

[–] ThomasMuentzner@hexbear.net 29 points 1 year ago (1 children)

Do you repeat something you heard there or can you in detail describe how the worlds greates manufacturing Hub is a economy build on Cards...

[–] kristina@hexbear.net 18 points 1 year ago (1 children)

china believes in the heart of the cards

[–] ElChapoDeChapo@hexbear.net 6 points 1 year ago

This is what China wanted their relationship with the US to be like but our ruling class is just too evil and shortsighted for that

[–] jack@hexbear.net 24 points 1 year ago

If that's the case then the US's economy is a card dealer pointing a gun at everyone at the table

[–] Frank@hexbear.net 17 points 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.

[–] PP_BOY_@lemmy.world 10 points 1 year ago (1 children)

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

[–] agressivelyPassive@feddit.de 18 points 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).