The policy shift was definitely earlier, you are correct but the policy announcements were made in 2019 - I think I linked the announcments in the document I attached to the description

I agree with you, it's unlikely to exceed China with the current form of governance, India really needs something that benefits its people more than its leadership - China did it, India has far too much British Influence to do it I think. The Caste system also serves a useful purpose in that it divides communities, if a community is divided, they can't cohesively align to rise up against an unfair system.

I agree with you - I feel the same way, I wonder why they don't tax my empty apartment, maybe the cost of setting up a department to do it is larger than the return they would get from it but I do think it would be a wise move - I'd even be willing to pay for it. I suspect one of the reasons is cultural, many people leave the rural regions and move to the city, when their parents/grandparents pass away, the family home is often left empty for many years but peope will return for New Year and Qing Ming (tombsweeping). It would be unfair to tax people who have those ancestral homes and, if they aren't taxed for them, it would be unfair to tax people like me who just moved from one into another but didn't sell the old one because the value is still low I've a feeling there will be some taxes implemented but I've noticed one thing about China is that it doesn't try to profit from situations such as this

I wouldn't trust much tat CSIS puts out Robert, I would do something really unusual and look at Chinese media and their sources - which is why I'm optimistic. I've lived in China a few months short of 20 years and have been reading their media for all of that time, I check their sources and now I even write for some of them. I say this because it indicates that even and an op-ed writer, my opinions are not valid unless they are backed up with some real facts and supported - Chinese media are like media of the old days, they check and triple check sources and won't publish until they have. CSIS, and others, work on hypotheses which are provided to them and seek solutions that leads to the hypothesis, rather than seek a genuine answer to the problem. You are, of course entitled to disagree but I'm willing to bet that my optimism is far more accurate than the pessimism provided by the likes of the Wall Street Journal and CSIS. However, we will only know in a couple of years time. By the way, I did a straw poll a few weeks ago in a place called Kaiyin in Zhongshan, it's a huge housing development, so huge it's actually called Kaiyin New Town, there are upwards of 100,000 houses and apartments in the development making it larger than some US or UK towns. Many of the apartments are empty and some are for sale - I checked with two real estate agents and also with several residents of the place and found the same thing - every single apartment has been sold at least once since development, over 90% of residents have no mortgage and about half the apartments are empty - more than half the apartments which are empty are owned by Hong Kong or Macau residents who use them periodically, the other half are investment properties that are not on the market and most likely won't be until the market prices start to edge up - the point being that, if we don't have a mortgage, keeping an empty apartment is cost free - in Kaiyin, there would be maintenance fees and perhaps security, gardening, pool, elevator fees as well as some kind of body corporate fees, a good friend of mine who owns two houses, one is empty but next door to the one he lives in and he plans to knock them into one large house, in that New Town has told me he pays 1,500 RMB every three months in fees - I (with my wife) personally own three apartments and we pay not one cent in fees as they are all in smaller, older buildings. It's when you know things like this from living here and asking questions about what's really happening at a local level, you can find out a lot of information that WSJ and CSIS through their research (much of it biased research looking for negativity) can't find - hence the reasons for my optimism. There are indeed some empty and unfinished homes in Zhongshan, a city of over 4 million people. But I'm certain, if I visit every city in Europe, all of which other than Moscow, St Petersburg and London are smaller than Zhongshan, I will find plenty of empty, boarded up and abandoned buildings - the problem is nowhere near as deep in Zhongshan as it is in my hometown of South Shields in the UK, where the entire High Street consists of boarded up shopfronts. Where my father's apartment has been on the market for more than 3 months and still not sold despite asking 20,000 pounds under the market price.

Thank you CW, it most certainly was a harder fall than expected, had Evergrande and Country Garden restructured as they should have done, it would have been a lot easier but they took the "western route" of assuming the government would bail them out to avoid this - I notice as recently as yeaterday that Evergrande has been hit with billions in fines for taking the illegal route after being given almost a year to implement changes legally

@@jerrystakeonchina799 Thank you. I also tried to tell people that homeowners are hardly impacted if they live in their home and do not intend to sell. The government will look after them and their second most prized assets (after family). However I said, not the owners of the major corporates as China will act. As for the corporate entities, I do not know. The bigger picture is China will protect her image (will it tantamount to bailout, I do not know then but now we know). 🙏

Links are often removed Robert, especially if they take the reader away from RU-vid but this one made it through - you're right, $42b is only a small part of the solution, the policies are what count - the big investors will lose, the ma and pa investors who simply wanted somewhere to live are going to be 100% bailed out by this policy - for some of them it has taken a long time to get justice but they will eventually get a place to live, or teir money back, the internatinoal investors and those who borrowed from "shadow banks" will not be seeing their investments returned, at least not in any substance

I appreciate that the shares very much and thank you for your continued support

My pleasure Nancy

Thanks Stephen, unfortunately, the captions are auto-generated, I can't change them - they are a work in progress but they're better than nothing - this is why, when I do scripted videos, I also link the script so if anyone wants to read along, they can

Thank you Ron

We both know the truth Henk...

Sadly not and they seem to be throwing all their eggs into a US basket - I sincerely hope that Premier Li's visit in a couple of weeks will go well, Australia needs to understand that without China, it is nothing - the US economy is going to slide and they are only 10% of China's trade, India the same, although India can increase the US can't, China is already by such a long way the largest partner for Australia and has room for more gowth - it also has the capcity to completely pull out of Australia and then Aus will be back to the 70s!

@@jerrystakeonchina799 Jerry, Australia is not just throwing all its eggs in the US basket, it is breaking all its eggs in the US basket, and what a scrambled mess that is making. Keep up your great work...so many people both appreciate and depend on it. This morning on ABC news I heard again what a terrible disaster the Chinese property crisis is. I sense that that is what the writers of the script are actually hoping for.

I think it's like the USA, it's a form of deflection, nothing more

That ins't in China is it? I've never heard of such a thing here

@@jerrystakeonchina799 Canada

One thing I"ve never heard the CPC (not the CCP) do, is seek revenge, they seek no repetition of the humiliation, they seek a complete reunification of the parts of China that were taken during that humiliation but they want that to be peaceful and have said they would wait 1000 years, they seek cooperation and they have NEVER sought conflict I think you're mistaking Western media headlinese interpreting things they say with reality on the ground -read more Chinese media, read the official briefs from the Ministry of Foreign affairs, read the releases from the State Information Council and their English language translations are accurate reflections of what's said by the leadership - you can even read Xi's own words - he's never sought revenge Seems if you prefer Washington's methods then you're definitely on the wrong channel here

@@jerrystakeonchina799sorry the CCP is the acronym that people in the West are familiar with, the "official" acronym CPC is not a correction worth making unless you're trying to score a rhetorical point, which in my case is a wasted effort. And your trying to interpret the CCP's oft-stated goal of supplanting of the West economically/socially as having nothing to do with revenge is either naive or suspiciously obtuse. Why do state media repeatedly refer to "the century of humiliation" if not to incite Nationalistic fervor? Glib accusations of me being unable or unwilling to read the Chinese media or "official briefs" (lol, as if they are canonical!) are untrue and totally discount my long experience of doing business in China and being married to a Chinese national, and my years of study in university. Instead of just arguing on the facts, you chose to take ad hominem digs at me, because I am the kind of voice that is "on the wrong channel" here merely because I have a different point of view from you and the echo chamber folks you've got as subs. I don't "prefer Washington's methods" - I alluded to the fact I don't believe anyone anywhere actually, a part of my post you also chose to ignore. Frankly Jerry, I won't be coming back to your channel after this reply, not because I don't have much to share on the topic of China that would counterbalance the dominant narrative you're crafting here, but because you are obviously not interested in serious dialog. I will leave your subs a few last things to ponder... why is Jerry so simplistically arguing that Beijing is purely benign while Washington is purely evil, as if such a complex topic as Great Power Competition (thousands of years of it) can be boiled down to "the good guys versus the bad guys"... and how is Jerry going to account for the fact that immigration trends clearly tell the tale that even many Chinese themselves that can afford it (like my wife) prefer to live OUTSIDE China? Inquiring minds want to know, or at least they should.

OR that China is so poor that the builders can't sell a single one of the properites they've built - either way, they're wrong!!! :-))

No such thing as a ridiculous question, the important thing is not GDP, either nominal or per capita, there are two really important economic tools that are constantly improving, one is PPP, where China's population have a rising income as well as a stable cost, it's getting easier to live in China on the income that employees have. The other one is the Gini Co-efficient and this is the inequality gap between the rich and the poor - in China that line has come closer and is a continual improvement too. What this means is that GDP isnt' important, lifestyle improvements are and those lifestyle improvements match up to improvements in health, education and most importantly, life expectancy - when we measure those things, China is imporving in every metric. I think you might be misunderstanding China's growth, while there were a couple of 20% years, it was from a VERY low point, when China entered the WTO exports were measured in millions and GDP in billions, now both are measured in trillions. Growth on $17 trillion at 5% is much better than growth of 20% on $500bn

I've been studying the Australian market quite closely, the problem is that they've aligned themselves with a non-viable partner - the USA is not going to save Australia and only China can, China are by a VERY long way, Australia's leading trade partner and Australia are doing everything they can to restrict China from doing business with them, economically, politically, and militarily, Australia has aligned sitself with the US which is a declining power and only the 5th largest trading partner. Australia's exports to the USA are 1/10th of the exports to China. If the situation with China doesn't improve, Australia's economy will crash to 1970's levels and the US isn't going to help out. Certainly the Number 2, Japan and the Number 3, Korea can't - perhpa India, which is currently only 3-4% of Australia's exports can pick up some slack but it will be a very long time befire they can replace the 35% that China takes.