Chinese React To Evergrande Debt Crisis | Street Interview 

You can in London, as the banks only ask for like 5% upfront payment but you’ll be paying for the rest of your life lol and it would be a very tiny place like 30-45sqm

BINGO! Though, let's be fair what does the average person near Mongolia make per year, and what is the average cost of a house there? I don't mean four walls and a roof either, but instead a real house?

ikr,but the housing price in Shanghai is still way too abnormal even compared with NYC Toronto where people get much more paied than Shanghai.

@@RodolphosTechchannel wouldn’t that be a flat? no house would be of that size

Not true, my family member bought a small house with a small backyard in Los Angeles at 8 times his annual salary. In Shanghai that same house would be 40 times his salary.

how much is a single family home there?

@@rocketman3770 lets say, in north jakarta where i live, a normal one floor house with around 6x15m size is about 2 billion rupiahs, so not to confusing anyone, juta is million in english, so miliar is billion in english

90 m2 2M Itu tengah kota pasti lah mahal ... Kalau mau lebih ke pinggir pasti lebih murah

@@greatndit iya betul bro, di daerah saya tinggal segituan, rumah orang tua, kalo beli sendiri ga mampu, sama ky d video ini kan shanghai ya, kota besar juga metropolitan bgt, pasti hargany menggila jg

@@Neuvari its normal for house price in a country's capital to be expensive

They don't know what's happening. They just saw the propaganda

The real one only saw the propaganda is you

Those that do not know probably decline to be interviewed. It is likely AsianBoss likely did not include interviews with stupid answers, unlike comedy shows or vidios that only included stupid answers..

Chinese people are usually well informed and smart enough to give coherent responses. Certainly if you interviewed people in the street from my own country most people would not have a clue what was going on.

@@peterwilliams1119 everyone has basis information if a crisis occurs in their country. There is nothing smart or indifferent about it.

tai jia le , gong zi hai shi ge wei shu de . niu bi .

Your salary is very good for Chinese standards

Well, taking 20 years is quite normal.

14.000 USD is big

@@RodolphosTechchannel In Chengdu is average, but in Shanghai Beijing or Shenzhen. U can barely make a living.

Paid interview !

The ladies and older gentlemen seem to be much more knowledgeable than the younger guys. Also the younger guys slur and mumble their words like crazy.

Yep.... I agree. The same street interview in the US would find only 10% of that intelligence.

please change drug pusher

please change drug pusher

Right

Hilarious but a sad subject

No such thing

SCREW U BAT EATIN KUNG FLUS ...YO OWN PEOPLE SCREWED U

@@monamilkis4103 Racist. It's the Chinese government, not Asian or Chinese people. Most Chinese citizens have even _less_ say in what their government does. They are powerless to protest. You get to vote. You get to write nonsense RU-vid comments and no government minder comes knocking on your door to re-educate you. Get real

哈哈 他应该回答in我个人的opinion，我觉得xxx

im sure i am probably just missing something... but it's honestly not that difficult of a subject to summarize and the people who were asked to do so all did a great job, more or less anyway...

@@William-Morey-Baker It was just a joke about her use of Chinglish (Chinese/English). While there are many English loan words in Chinese, “summarize” isn’t one of them.

@@William-Morey-Baker haha,they were just laughing at the girl becasue she used english word when she was interviewing in chinese.i think it could happen in many countries.

Just gotta point out how people seem to exclude Hong Kong when talking about China. The housing prices over there are waaaaay higher than either Shanghai or Beijing (compared to average salaries).

They are. Compare that to the average American, especially someone who doesn’t own a house.

@Julio Lopez Lol funny. I’m American. Don’t tell me you have never seen Jimmy Kimmel’s street interviews and see how smart the average person is. Or Conan O’Brien’s interview clips. Ever seen Are You As Smart As A Fifth Grader? Why do we have shows like this? Inherently, we see and know the truth. The average American is not educated enough.

@@taoist32 Those are literally comedy shows, they purposely pick those people on purpose for laughs

@@ChocolateRabbitEars Yes, and it also shows our decreasing amounts of class and morals. Dumbing down America. Johnny Carson was classy.

These are cherry picked interviews, the average Chinese person barely has a grasp of the situation, hence why the country is in this situation in the first place.

people in China don't worry about it . why the west media so currious about it .they think this will make china collapse, LOL, so funny, evergrande put the land to bank for guarente ,then the bank give the money to them. if money not back , bank will take the land . the land in shanghai is huge expensive.

@@MrPeterzhu Bank will get the land which will eventually return to the government. But will the banks close the loans of the buyers who cannot move into incomplete apartment buildings? What about them? "people in China don't worry about it" Yes, denial works wonders doesn't it? Evergrande is the only property developer facing default? Modern Land? China Properties Group? Sinic Holdings? Fantasia Holdings?

@@MrPeterzhu The western media is doing it to further their agenda of slandering China and discouraging investments in China. Basically you can't really find any good news about China in the west. It is information warfare to manufacture consensus about China. If you talk to the average western citizen they would think China is collapsing and many of their own problems are China's fault. This is what the media is working towards so that the average western citizen will support any punitive measures against China be it war, embargo or sanction even if doing so will hurt themselves.

@@MithunOnTheNet Yeah, the bank will auction off the land so that other developer or state enterprise will continue the project. The gov will guarantee the buyer but not financial investors. Many of the over leveraged property developer are going under. Let them be. This is part of the central government's plan to control property prices and debt. Sends a warning signal to others that there are no such thing as too big to fail. You screw up, you pay.

@@Jaytip91 could be in English or Spanish, you always find information about the institutions or big companies but not much about what people (in general) think about them.

Because its not a big deal! Everyday someone will lose money in their investment ! You do have people jumping out of buildings but thats not the majority of what will happen. Chinese loves to gamble and in China the only thing you want to invest in is something solid like real estate.

@@toomyng9015 It is a huge deal. Chinese are largely unable to invest in anything else. Their access to stock markets is severely limited. The government has herded them into property and developers have built whole empty cities of worthless, poorly constructed buildings. This is a financial disaster for hundreds of millions of Chinese people.

I read that the govt actually already paid attention to this company much earlier so it’s not a huge surprise

@@CaptainKremmen even without government, chinese are gonna invest in properties anyway, its pretty much part of culture that having property equates to some sort of success or stability in life, Chinese diaspora worldwide have similar views

Media always exaggerated stuff

The poorer get richer in China.

That's how it's always been and always will be. Funny enough, communism is supposed to be the solution to that but it always creates the worst wage gaps. They say, "we must suffer a whole bunch for paradise to become reality." while laughing and beating the poor down and telling them to worship suffering itself.

@@Love_N_Let_Live Well, it's simply not true. From the 50s to 70s, China almost had a minimum wage gap. The salary of my grandpa was just 30% less than the top leader of his company. Workers have free medical care, free house but they are relatively poor. They didn't have money and all those fancy stuff like westerners did. Today, life in China is basically the same as many Western countries, esp have huge similarities with the U.S., There are enormous choices and chances to make you rich overnight, meanwhile, a lot of poor ppl are suffering. But, I don't think it has many things to do with "communism". It has been called 'Socialism with Chinese Characters' for decades.

In Australia we say the rich getting richer the poor get the picture.!!!

@@JurijFedorov not when inevitably this whole thing collapses!

Can u explain what this gift apartment means

They like to demonize China so the interview on SK housing price have to wait in the line.

1주택자도 악마화 시키고, 대출도 막아 버리고…레알 서민은 서민 답게만 살라, 주제를 알아라. 이런 정부여서 진짜 사람들이 너무 힘듦. 한남 더 힐 사는 사람들 잡으려다가 서민들을 많이 죽여 놨으니…ㅠ

South korean economy will collapse soon

Remember when real estate was an investment?

That is a pretty large apartment but still quite pricey for the incomes in the area.

Sounds like Florida prices

So don’t live in a communist country?

@@bigmike1850 If I did live in a communist country, then I wouldn't need to complain about the housing prices.

Yeah the comparison isn't equal.

The company borrowed from HSBC Bank and other foreign banks .Why do you think some foreign banks are following the situation?

@@pacifiquetumu9650 I didn't say there was no borrowing abroad, just that is is not a significant percentage. Also, these are "straightforward" corporate bonds. In the Lehman case they were complex derivatives (CDOs) that were sold to everyone.

@@pacifiquetumu9650 I read around 90 percent of the debt is in RMB. I don't think Beijing doesn't have enough RMB to mitigate the crisis.

In fact, Evergrande's cash flow is broken due to crazy land purchase, numerous real estate and poor management. However, Evergrande can obtain funds by selling its gold value land. Therefore, Evergrande's problem is actually not so serious.

But what if the entire Chinese reap estate market collapses? What about all these people who were tricked by these massive real estate scams? They will all be hurt, and the government watched the bubble grow over years

@@ArchesBro The government didn't just watch the bubble grow. They actively pumped it up higher. 40% of local government budgets in China is from government real estate shell companies.

@@DBZHGWgamer True

where did you see that gov is asking Xu to pay by his own property？

You say that state and local enterprises have been ordered to take over the projects. It would seem you are confirming the communist nature of business. In a free market, Evergranxe would have to negotiate with these businesses (and without government assistance) to take over on mutually beneficial terms. If unable to do so it would have to cancel them and either refund the buyers or deal with legal consequences of Breach of contract.

The property valuations in China are very different than New York for example. In New York the real estate is about 10x income compared to about 40x income in China. So real estate prices would need to fall 75% to match the ratio in New York. I’m not saying they will or won’t but pointing out the comparison to New York is a poor one.

I think Asian Boss interviewed many more residents, but only air the selected few that sound more credible and make sense.

Agreed. But on the other hand, housing price in Tokyo and NY are more affordable than in SH, BJ, and SZ.

That is news manipulation.

@@channel20122012 I trust people more than I trust big companies / government

@@kky-jd3xj people that are interviewed do not necessary have the correct information. The news would also be based on the ppl they choose to interview.

@@kky-jd3xj i dont trust both. Institutions are famouse for news manipulation but people are also very biased beings.

@@ChanChan-gu8jj true anything can be falsified anything can be working with ill agendas, its hard to trust nowadays

There will be a collapse, definitely. It's inevitable. Many house owners and multi-house investors will lose it all. I guarantee that... that's when you'll be glad you owned nothing, a time for you to laugh at those greedy people. Wait and see.. it's coming.

Why don't you talk about the density? How many people/land size in China comparing to overseas

And then it spreads to North America, Europe and Japan!!! 😱😱😱😱😱

@@John77Doe That's his point.

@@novelas3536 He is limiting the domino effect to China. I am saying it will be like Lehman Brothers. They just seized another Chinese real estate company's property in San Francisco. Oceanwide, one of China’s biggest real estate companies, lost control of its flagship San Francisco project. Debtholders seized Oceanwide Center, which has been plagued by failed sales, $1.6 billion of ballooning costs and more than $40 million of mechanic’s liens, after two of the firm’s subsidiaries missed payments on $321.5 million of notes. Two debtholders seized the project, along with shares in Oceanwide’s parent, China Oceanwide Holdings International, which were used as collateral for the notes, according to a filing Wednesday with the Shenzhen Stock Exchange. Oceanwide, which has only one San Francisco project, didn’t name it in the filing. Reuters reported the seizure earlier. 😱😱😱😱😱😱😱😱

It is just about whether the PBOC wants to help to bail them out or not . But looking at it , they rather prefer the companies to settle their debts themselves until the last resort . As a non citizen of China I think what the PBOC did was right by trying to get the owner to pay creditors from all its assets even personal wealth . Only after exhausting all avenues the PBOC will step in. This is unlike the USA n other nations where the Tax Payer money being used to bail out ailing companies . Bravo China . The CCP has firmed grip in handling the Evergrande woes .

@@wisdomtan490 except even if using their own asset to handle the debt wouldn't even put a dent to it

As a part of the great purge of anyone who made China a leading economy. It's a disconnect in securing true communist values.

@@DennisCambly communist value not mean to save the capitalist

@@DennisCambly Chinese workers made China a leading economy

@@SunnySzetoSz2000 it's not a communist value to save capitalism

@@yigesbg8145 oh. What about India?? It even struggles to feed it's own people and on plus side it a democracy a superior way of governance according to you

China's not developed? Do you even know China? Lmao. Straight talking out your ass.

If you are rich and not invested in real estate, this is certainly possible. Or, if you are young and working in a stable sector that will be insulated from the broader effects and don't care about your parents/grandparents/older generation of relatives. But, this might be wrong as China has something different than other countries: I'm not sure any investor would actually WANT a lot of the properties, even if the price crashes. Widespread use of cheap or fake materials, rampant corner cutting on vital building integrity aspects of home building, and lazy labor and construction really poses a risk to these structures withstanding time at all. However, in China and Asia as a whole, real estate is and has been thought of as the 'one true investment'. If the price of homes crashes, so does the net worth of most Chinese people. More than that, it will ripple into the wider economy, and deleveraging is often not a pleasant experience. Commodities will crash as homes are no longer being built as they are no longer as profitable. Growth will stagnate, jobs will be lost, pay will reduce... there's a whole host of other effects.

Ya if you think like an American and gives zero regards as to who and what it might impact. For someone like yourself who has no property sure, but how about your parents, aunts, uncles and etc. Followed by worst case scenario massive unemployment then you have no job no place to live.

The evergrande problems are not so much in their completed units as in their units still under construction. People were buying units with the assumptions they will be built.

@@vilester That's not an "American" mindset. Greed is greed globally. Don't be so foolish as to imagine it's only endemic to a single nationality.

You're optimistic about the quality of the real estate you'd be buying. From what I've seen, Built By China structures show signs of aging and degradation alarmingly fast.

its not big enough to crush the economies worldwide...the scale is incomparable to lehmans. Also, if the analysts were doing their jobs properly they would not have invested in Evergrande bonds in the first place. Their precarious financial position has been a well known problem in China for a long time.

it was. in like 20 years ago. a Pack of cigarete is like 5 times cheaper then, and a bowl of meatball soup is 3 times cheaper. but the House Price is 300 times more expensive

The news inside China is heavily censored by the CCP, that's why a lot of their citizens don't really have an exact clue of what's going on in their own country. Google, RU-vid, Facebook, etc. are banned in China. The only way for the people inside China to access these websites is if they have a VPN.

the west media is busy with make people believe China is about to collapse,but the reality is what you saw in this video, no one worry about it .this company put the land to bank for garantee, if money can't back ,put the land back . this is quite different from the Lehman Brothers.

@@jdvierra China banned Lots Of American Applications Because They Have Their Own Apps Inside Of China

@@heinrichhimmler3781 More like STEAL American technologies. Renren is a copy of Facebook, Weibo is a copy of Twitter, Alibaba is a copy of Amazon, the list goes on and on. They tried copying Tesla, but it failed miserably.

Wow, that got off topic fast… BTW, it seems another real estate developer, Modern Land China, recently defaulted on a $250 million loan, so the situation could be worsening rapidly. While I did find responses by people to be interesting, you can see that much of the Chinese economy runs on ignorance.

Agreed. I know the same here in the US... I have a buddy who's that lucky..

Depends on where you want to live. Most big cities around the world is expensive.

Yea and you say that because you know exactly what is going on in china. 👏👏 I"m sure what the western media says about china is the most accurate in ur opinion.

@@justinanderson5231 I see plenty Chinese media

Ok, since u think the people are not well informed enough, u must have watched some media that gives a better explanation of what's going on this matter . Pls tell me which media has a good explanation on this topic so I can increase my knowledge🙏

@@justinanderson5231 you look for your own information there is plenty about

@@justinanderson5231 funny how I made a positive comment and now get questions on why

It's already introduced

@@lilyc2712 yeah and property taxes are pretty high also

Shanghai

Sorry , I was wanted to comment another korean video who visited in India but somehow this comment was written here. But still people are liked it. Thanks.

Why is it a surprise?

China has a population of 1.4 billion. Everyone wants to own a house in Shanghai. The Chinese have many rich people, so this is the reason for the high house prices in Shanghai. In fact, in some small cities, you can buy a 100 square meter house for 50000 yuan. Note that only 50000 yuan is needed.

real journalism

Compared to Sydney I think Melbourne house prices are way cheaper. Last time I checked house prices, it was more realistic for me to buy a house in Melbourne than Sydney.

when you say house, it is a HOUSE for Chinese, it is just an apartment .......

@@mobeyond 3 bedroom house

Wow. That is tough. I love Africa then. U can own land and build anytime. Only bad politics limits the youth

then, forget house, buy an apartment

@@mobeyond he/she means apartment actually

They are terrible because their product is horrible quality. They build as fast as possible with little attention to quality…

lol，you know the real situation in the USA, but not the same as in China.

If I didn't remember it wrong, Trump is also one of the shareholders(investors) of Evergrand. Is there any other American politicians and capitalists are involved, I don't know.

@@cosmos69 Trump is an idiot. All of his business ventures fail. IF you know he is invested in a company --- RUN, run as far as you can, away from that company. DO NOT invest in it. It WILL fail.

I think you should look for language learning material else where.

Did you have sent them email about that matter?

Because, sadly that will not be achieved in at least 5 years (at very very least, I'm not saying decades or even more simply because I'm hopeful)

buy somewhere else So that u could turn there whenever u want to

But it's not just Evergrande, two other companies have defaulted.

@@GoGoPooerRangers same thing applies. No Bailout. the people might not get their money back. I'm for the people.

@@GoGoPooerRangers China has 100,000 real estate companies. How come a few will affects 100,000 real estate companies and the real estate they involve?

But if China 🇨🇳 financial fall, it will effect the global economy .

@@fadzilhashim.0910 Not in the way you might think. If the Chinese real estate market collapses, Chinese people will lose their investments and need to start over again. Thier labor will be cheap and the global market likes a cheap labor force so more countries will just build up their manufacturing in the country again potentially. That is part of the reason why the entire world setup their manufacturing in China. Low wages, few environmental regulation, and a big market to sell products to. Their monetary policy of a fixed exchange rate with the US dollar also means products from China are very cheap. Ironically, the Chinese economic problems is good for the rest of the world, but not good for China to have grown such a large real estate bubble in the first place

@@ArchesBro Indians also think like you that China has low wages and less environmental supervision. China’s wages are 7-8 times that of Indians, and wages in China’s coastal provinces are catching up with southern Europe. You are brainwashed by Western media propaganda. China is very modern now, and also very clean The conflict between China and the United States focuses on the dominance of technology, currency and finance. Your concept is too outdated

Just like famous Chinese professor Li Yi says, 4000 deaths compared to 1.4b population is like no death at all. /s

@@indianatarzan8001 yup lol... That's China.

You forget to mention that they overbuild poor quality buildings. Why does anyone need to own 3 apartments? Yet it is a rat race. Owning property is a status symbol in China. The more you own, the higher your social status. So everyone competing to own as much property as possible. Unfortunately, the quality of the property is not good. Many construction defects that will show themselves in the coming years. It is a house of cards. Eventually, the system will fall apart…

You're really gonna trust Evergrande's bookkeeping right now?

Educate yourself before writing uneducated comments. Your stats are way off... China market will collapse.

@@brandmotivo It already is collapsing. Their stock market is badly bearish, thousands upon thousands are out significantly in property investment, and that's not even accounting for all the floods and blackouts.

I think that’s what a healthy society or market should be like. China’s real estate market is insane.

Which city or which country?

@@yigesbg8145 Not true . Those are the years . In the city most will hv at least USD600 a month minimum pay especially when it comes to manufacturing concerned . Those rural areas still command low but urbanisation had helped them to command higher salary . Most workers are given perks n benefits such as free hostel , meals allowance n Incentives . Those Cities n Township Salary Gap are in the range if 20 to 25 percent different n with rural easily 40 to 60 percent different but of course the cost of living in rural is very low compared to Cities level .

@@yigesbg8145 That was the Western narratives n their wishes . Infacts , comparing my countries n many others China n Chinese are doing better than us . The Chinese were lucky enough to go thru this phase which no one will expect. They hv all the infrastructures that everyone dreamt off . No matter how rich or poor they are they still live contently n no faminity n homeless roaming the street. I was travelling extensively in China cities prior to the pandemic n everyone seems busy with their chores . CCP had done great n will only do better in the coming years when it's Chinese concerned . I buevef they will be the role model of the world now where the citizens are getting the best deal from CCP initiatives . They built , they impirivrd, they upgrade n they transform . Every nation are envied n jealous of what the CCP had done n will do . The Modernisation of China was not ever thought of the whole World n today almost everything in China are digitalized providing conveniences . In next 5 years I do not think my country will ever achieve china today . We can only envy n feel remorse of our own country progress . The majority of the world areeith Chinese now. 140 countries having largest trade with China. No one can afford China collapsed as it will drag the others too . Therefore, china is has one direction n that is to surge forward hence complimenting all its trading partners. Never ever dream that CCP will collapse . They are here to stay n to evolve the world to compliment humanity . Hail the CCP. They will rescue the world eventually from those bullies n hegemonic.

@@yigesbg8145 Common generally the Chinese are still doing better . Those measurement from the West were narrated in such . If u are Chinese urself u shud hv known n only fears are in u right now on what the CCP can do next . Honestly speaking , as a SEA with frens all over the regions our observeance can't be that wrong . Having business acquantances n personal friends living in China we have the 1st info of the Chinese sentiments . Only you are fearing due to ur negative perceived value against the Chinese 1. They are the biggest spenders in the world . They uv the biggest group of potential Consumers . 2. China commanded 22 percent of the Consumer Market n most probably 25 percent of the world GDP 3. Chinese travelled everywhere n hv the disposable income to even send their childrens overseas to study 4. Chinese bought all ur nations assets be it equities , corporations, bonds , n many more 5. Chinese are into modernisation while many others still struggling 6. Everywhere in China are easily accessed with rapid development in it's highways n railways network . 7. CCP kept on progressing in all aspect especially on technology sectors 8. Prudent policy emphasizing on Siciolism will benefit the laymen Chinese 9. Everything digitalized soon with AI , 5G n etc already an edge over the World 10. Many other in the pipeline n u shud hv know better . Therefore , you are in deep fear n envy of what the Chinese had achieved . You can brag all those nonsenses but yet today the CCP n Chinese are still living at their best n definitely better than most of us n urself. You can only feel frustrated with each China sensational news . I will suggest that u learn to accept the facts n reality n move on . U can only wish for ur ownself to be better of n the rest are history . There are only one way for China n that is to consolidate it's position in the World arena n build up more international support . Today out of the 200 Countries in the UN , China had easily garnered 80 percent of the support . Now it is only for China to make those of it's Allies stronger n louder . It certainly will be achieved within the next 5 years .

@@yigesbg8145 Garbages or whatsoever just learn to accept the realities . You must be very frustrated n feared how the Chinese improved each day. They will become more open than the West one day . From 40 years till now the human development was so much to shout about n they only will get better each day. They are theost fortunate among all in this world now . They can eat at ur best restaurants n can influence how ur nation economy goes. Only China can make the difference in this World now. Humanity will achieve greatest success with China efforts in innovations n Space program . Hail China hail the CCP to bring new innovations n modernisation to the world . Only those critics can envy n jealous over the Chinese progress over these years . The itgerswoll be left behind wondering their Govt effectiveness to bring their citizens to better life.

@@yigesbg8145 just dont repeat these propaganda rubbish

I invested in both stock and Crypto but I'm doing much better on Crypto with the favourable market price.

Investing in the right things Matter,I have actually invested in the stock market and Crypto market trust me Crypto trading is more profitable than stock investment.

Yes, you are right! There will be time later for celebrating 🙏💰🍻

Regardless of all, lnvesting in crypto markets trading still remains one of the best ways of getting out of poverty and obtaining financial freedom in this global economic pandemic

Investing in Cryptocurrency is one of the best chance of making money

Shanghai is a very international city that does most of it's business in USD

Because he knows that the audience for this program is non-Chinese

As a Brit in Shanghai, I am more informed about the USD-RMB exchange rate than UKP. So much information online is US focused, so prices tend to be presented to us in dollars. We're used to converting between the two to see if we're getting a good deal or ripped off.

Perhaps because Jax is one of the busiest ports in America, including container ships from China & their merchant men.

😂

I just decided I am moving to Oman 🇴🇲

So from her interview of 5 people you think that they know more than Americans, two of them had completely different opinions on what the government would do about Evergrande. How do you know she didn't interview dozens of people before she found 5 that seem to know something?

Being a Chinese, I still find the responses hard to believe. (In the finance industry, obviously I always pay attention to economy/market news. But ppl outside the industry? Just why...)

they are not average I dont think poor people know about much

Based off of what? The proliferation of unfounded commentary these days..

Wrong.... not local at all.... 50% of bond buying was from the US. That money hasn't been paid back and interest payments have been missed every week for 7 weeks. China's property market will collapse, More than that, there are 98 property companies in China are with serious problems..... it will bring down the world with it. Wait and se....

@@brandmotivo Doubt it. A few hundred million or a billions loss can be absorbed by foreign bond holders. It just won't be much to hurt the rest of the world. It'll hurt some investors for a quarter or so and will simply be written off. If you are talking about trillions lost to foreign investors, then that will be something. Overall, it's not just not gonna be big enough.

wrong, Evergrande is not just a domestic borrower, it has enormous overseas debt too. It will an international issue if it really collapse.

But it hasn’t been implemented yet across the country. Just a trial in some limited areas.

It's not the house, it's the land..and you get compensated if your house is "teared down" (a LOT)

Not really 70 years, you just need to reregister the house and you get another 70 years so the "70 years limit" is a not true. By the way, nobody really want to tear down old house and build new houses, they only build new houses but not tear down the old ones, that is why each city has a old part and new part. The reason why nobody want to tear down old houses is because if you tear down old houses that is owned by the owners, you need to pay the compensations to these owners, no house company is that fool to do it.

@李昊 @John Yankee you're comments simply contradict with each other... How am I supposed to know what's really the case? Do people get the compensate or not? And do they reconstruct their buildings or not? And for me personally I wouldn't wanna trade my house however much money I can get though. When you buy a house, it's not just about the house itself, but also the location, the neighborhood and everything...

@@user-cu1yo7ty5j they don't contradict at all. IF the old houses are to be teared down, they will be compensated, so very few businesses are actually able to do it (but the wealthy ones still can, for example Disneyland in Shanghai) "Keeping the neighborhood" is a luxury you don't get in any fast developing cities. If the old ones are never teared down, in 30 years you will be sections of city with water/electricity issues, and that would pave way to "poor zone" like in Western cities

@@Lyserus I don't get it at all. Sorry. In the city I live in people are in charge of their own buildings' maintenance, and there are a lot of houses which are over 30 years old or even hundreds years old, and they are just fine. Like...who lives inside the building are in charge of the renovation, and if the owners don't want to renovate, that's their business. They have their own neighborhood community to regulate those things. I know the government should care for infrastructure but it doesn't mean the houses should be torn down, unless there are safety concerns. You said people are happy with moving because they get compensation, and the other guy said no one's that stupid to pay the compensation. So do they really get the compensation? From what I see there are a lot of new buildings though. In my country if a construction firm wants to build a new building, it has to get the consent from everyone who owns the land, compensate for their renting costs, and give them a house once the new building is done. So there would be a new building and the old land owners get to choose the best apartments on the same location.

You got it.

Yeah. And the housing price needs to come down to boost the financial situations of the younger generation, and the birth rate indirectly. So for the over inflated real estate industry to come down is almost a necessary step in development.

Little pink

Without CCP, there is no new earth. 沒有中共，就沒有新地球😂🤣🤣🤣

We (The West) understand exactly how it works. Owning property is a status symbol in China. It is essentially their identity. The more property (apartments) you own, the higher your social status. So it is a rat race with people trying to buy as much property as possible. Unfortunately, the quality of construction is very poor because they try to build as fast as possible. Poor quality concrete, etc. in the West, we expect our property to be fully furnished when buying. Yet in China, you are essentially buying an empty shell. It is all built on a house of cards. Eventually, prices will fall & people will want to sell as fast as possible to lock in a good price. This will cause prices to further plummet. No one needs more than one residential property. In the West, only about 2% of the population owns more than one home. In China, people are obsessed with buying as much property as possible. It truly is very sad, because the culture has been wiped out. Now, the culture is only Greed. Greed by trying to own as much property as possible. Meanwhile, 100 million empty properties in China. The communities are isolated because so many empty properties. Very sad…

@@alansmith6702 In USA your house are still make by woods . Whenever tornadoes hit it will be disastrous. In China , though earthquake it still stand tall . To compare with those Wooden Houses in USA territorials the China houses still better

really? Will survive earthquake? Tell that to the people in Sichuan in 2008….

It will happen in Australia ... and sooner than you think. AUS prices will bottom out 50-65%. Over leveraged, inflation running crazy, no wage rises, no investment in new energy, nothing being produced. AUS has never had a real recession, they've got away with it... it's hilarious when they publish stories of their last recession, it wasn't anything like a recession. AUS will crash.... massively. Wait and see.... interest rates are already about to go up.

This comparison is petty beyond levels, ofcourse business collapse can happen anywhere, we werent born yesterday

这频道就是个黑中国的频道…你指望它能用什么好词…呵呵呵

它就是故意这样翻译

if you want to find real Chines news, you are on the wrong channel with that BBC

Tell me more. Very interested

@@LaowaiDaveJCP In China, the fastest way to destroy your "credit score" is to borrow very small loans multiple times. lol.Ah, but the credit system of state-owned banks is usually not portrayed on the Western Internet. They usually use screenshots of Chinese shopping software as evidence, and the way to destroy that set of "credit points" is probably not to return rented bicycles, power banks, or pay for meals. This thing is called "Sesame Credit". Destroying this "credit score" may prevent you from using China's largest online shopping platform. lol