Memes

China is a kinder imperialist, but they are using largely the same playbook that the west used in Africa, including debt-trap diplomacy, undermining local sovereignty and regulation, and undermining labor movements.

The Atlantic, 2021: The Chinese ‘Debt Trap’ Is a Myth

What is China doing to undermine local sovereignty or labor movements in Africa?

The current real estate crisis

What “current” real estate crisis? The Chinese state intentionally popped the real estate bubble over a year ago, making the capitalists to eat their losses.

• Reuters: China Evergrande ordered to liquidate in landmark moment for crisis-hit sector
• Bloomberg: China Reiterates Stance That Homes Are Not for Speculation
• CNBC: China’s housing minister says real estate developers must go bankrupt if necessary

  “We will scale up the building and supply of government-subsidized housing and improve the basic systems for commodity housing to meet people’s essential need for a home to live in and their different demands for better housing,” an English-language version of the report said.

Compare that to Obama, who bailed out the private banks at the expense of people with home mortgages, banks that knowingly wrote those bad mortgages. Michael Hudson, 2023: Why the Bank Crisis isn’t Over

The financial sector is the core of Democratic Party support, and the party leadership is loyal to its supporters. As President Obama told the bankers who worried that he might follow through on his campaign promises to write down mortgage debts to realistic market valuations in order to enable exploited junk-mortgage clients to remain in their homes, “I’m the only one between you [the bankers visiting the White House] and the mob with the pitchforks,” that is, his characterization of voters who believed his “hope and change” patter talk.

“ghost cities” are a pretty obvious example.

Reuters, 2015: The myth of China’s ghost cities

Wherever you’re getting your information from, it’s dogshit.