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Numerous Concrete Stations Shut, Cement Trucks Idle, Homes Near Beijing Unsold Even at 90% Off 

China Observer
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China's real estate slump seems irreversible, and its downstream industries are also facing continuous bad news. According to Chinese reports, a significant downstream industry-concrete mixing plants-are closing in large numbers. After 23 concrete mixing plants shut down in Shenzhen last year, the industry is expected to face an even more dire situation this summer.
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27 сен 2024

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Комментарии : 202   
@dadandkids5028
@dadandkids5028 3 месяца назад
You can't call them cement trucks when the Chinese don't actually put cement in their concrete. Best to call them TOFU trucks.
@jmshwood2801
@jmshwood2801 3 месяца назад
You stated it well!
@patrickcardon1643
@patrickcardon1643 3 месяца назад
Was thinking the same :D they might as well use polystyrene instead of gravel too lol
@sleepinglaffey3886
@sleepinglaffey3886 3 месяца назад
Patriotism of Winnie PorkPooh - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters. -Chinese 🇨🇳 property sector, which accounts for 30% of GDP, is crashing -Exports and imports, accounting for 37% GDP, are down. -Foreign investment is falling over 90% compared to it's peak in 2018. -Foreign visitors are down 96% compared to the pre-pandemic level in 2019. -Consumer prices are experiencing deflation. -Youth unemployment hits over 21% (in reality 50%+), a record. -It's fast shrinking workforce is 10 years old than neighboring countries. daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card Organ Leeks #sloprosperity #theskydontlie
@marlan5470
@marlan5470 3 месяца назад
Imagine about sourcing local materials and think of buildings made differently than high rise monstrosity blocks.
@protorhinocerator142
@protorhinocerator142 3 месяца назад
But the whole tofu ponzi industry might fail!
@user-bl9fj7kf1s
@user-bl9fj7kf1s 3 месяца назад
Confucius says the best time to sell concrete is when there are enough empty appartments for a billion people 😐
@chinesesparrows
@chinesesparrows 3 месяца назад
Well they are props not real homes, although they are priced like real homes. How would anyone live in such unstable crumbling boxes? But they do lol
@user-bl9fj7kf1s
@user-bl9fj7kf1s 3 месяца назад
@@chinesesparrows Not one single building has ever collapsed in China. It's all western propaganda. Buildings in China are built to last a thousand years 💪
@GHST995
@GHST995 3 месяца назад
No soup for yoU!
@H.L.Hughes
@H.L.Hughes 3 месяца назад
❤❤❤ cnfusios say , WHEN BEST TIME LEAVE CHINA / NOW !!!!
@piotrmajewski5978
@piotrmajewski5978 3 месяца назад
Most of them are real and bought for speculation. And still unaffordable for regular people.
@breakwhiskey2863
@breakwhiskey2863 3 месяца назад
So...meaning....Xi Jinping and the CCP are FAILURES😂😂😂 Now....Chinese people are suffering.
@phann860
@phann860 3 месяца назад
It doesn't matter, the Security forces will be out in force and the CCP don't care about the Chinese people anyway.
@popajoekiller
@popajoekiller 3 месяца назад
Don’t forget the little pinks. They are also a huge issue. Just like that one that attacked 4 tourists from Ohio. Just because they were American.
@rebeccacarter1914
@rebeccacarter1914 3 месяца назад
Don’t gloat for the little man suffering. We in the U.S. are next unless there’s a miracle.
@breakwhiskey2863
@breakwhiskey2863 3 месяца назад
@@rebeccacarter1914 while that might be true...Americans are free to decide what they want to happen...whatever it is. Chinese people are not that free to decide.
@chinesesparrows
@chinesesparrows 3 месяца назад
Oh no the tofu industry is going to be disrupted!
@wartank9941
@wartank9941 3 месяца назад
Oh no construction jobs that lets people have a good wage is being disrupted
@PrimordialPunchbowl
@PrimordialPunchbowl 3 месяца назад
They cemented their fate 😅
@charzemc
@charzemc 3 месяца назад
Without cement
@epsilon-1138
@epsilon-1138 3 месяца назад
well said
@epsilon-1138
@epsilon-1138 3 месяца назад
well said
@D0NU75
@D0NU75 3 месяца назад
what concrete industry?! all their buildings are made of sand, mud and shit!
@berndkemmereit8252
@berndkemmereit8252 3 месяца назад
I wouldn't even pay 1k for a flat in these towers.
@wartank9941
@wartank9941 3 месяца назад
Affordable housing, not much but at least not homeless
@BillionairesArentYourFriends
@BillionairesArentYourFriends 3 месяца назад
You'd lose money still somehow
@wartank9941
@wartank9941 3 месяца назад
@@BillionairesArentYourFriends getting health insurance in America be like
@TheGhostFart
@TheGhostFart 3 месяца назад
@@wartank9941 imagine waiting over a year to see a doctor like europeans do
@Jaysqualityparts
@Jaysqualityparts 3 месяца назад
What about the people that paid and got nothing but a mortgage to pay?
@MamaMOB
@MamaMOB 3 месяца назад
It's China what did they expect?
@louisgiokas2206
@louisgiokas2206 3 месяца назад
China has 20M unfinished homes and 60M finished and unsold homes. There are also a massive number of apartments that were bought as investment properties and not lived in. The population is shrinking and is probably much less that the CCP claims. There is no economic model for this situation. There is no coming back from this.
@popcorn6931
@popcorn6931 3 месяца назад
They probably need another 20M empty units to keep up the facade for another year
@marcomalo02
@marcomalo02 3 месяца назад
They can make face powder for all those streamer women.
@KabukeeJo
@KabukeeJo 3 месяца назад
Most people in China just buy houses to flip them later for a profit. But then developers built tofu homes or never finished building them and left buyers holding the debt bag. And even those completed apartments don't last long due to being built with substandard materials so their value dropped. No wonder the housing market in China collapsed.
@bjornhelgason1879
@bjornhelgason1879 3 месяца назад
No babies. Dolls instead of wifes.
@DeadPiixxel
@DeadPiixxel 3 месяца назад
good
@oltedders
@oltedders 3 месяца назад
Someone should have thought about the consequences of building a billion more houses than there are people in the country.
@samsonsoturian6013
@samsonsoturian6013 3 месяца назад
They went bankrupt because they can't put ash in the cement anymore
@patrickcardon1643
@patrickcardon1643 3 месяца назад
Trying to save an artificial housing market ... wonder what the outcome will be ... oh, wait, I think we all know ...
@SeeLasSee
@SeeLasSee 3 месяца назад
Concrete overuse for pointless projects has been massively bad for CO2 emissions. Firing the limestone with coal is a combo that releases so much.
@I_SuperHiro_I
@I_SuperHiro_I 3 месяца назад
But you don’t make concrete anyways…..
@mikemotorbike4283
@mikemotorbike4283 3 месяца назад
That's not a tuff woman; it's a construction worker with a media filter.
@SgtBrutalisk
@SgtBrutalisk 3 месяца назад
China spent more cement in one year than the entire US in the 20th century. Cement is the third biggest contributor to CO2 pollution.
@protorhinocerator142
@protorhinocerator142 3 месяца назад
The fact that these global warming zealots never complain about China tells you that the whole thing is a communist plot and has nothing to do with caring about the environment.
@D-B-Cooper
@D-B-Cooper 3 месяца назад
Villainizing co2 is so last decade, we are now going after oxygen.
@wartank9941
@wartank9941 3 месяца назад
America start more wars and antagonize countries and that uses many industries that helps nothing. And that is a large contributor for Co2 production
@gazzman6547
@gazzman6547 3 месяца назад
@@D-B-Cooper Don't breathe air then.
@charzemc
@charzemc 3 месяца назад
How do you spend cement??
@dillonbacon4818
@dillonbacon4818 3 месяца назад
The beginning part is hilarious, the lady said it’s hard because it has to be affordable and quality 😂
@mikejones-nd6ni
@mikejones-nd6ni 3 месяца назад
They mix oatmeal not concrete
@LEV1ATHYN
@LEV1ATHYN 3 месяца назад
Lots of tofu trucks and no rebar trucks 😂
@johnjessie3083
@johnjessie3083 3 месяца назад
Even if they sale one thousand yuan ! I wouldn’t be surprised!! Bad quality, n Unsafe houses 🏠
@Nookdashiddole
@Nookdashiddole 3 месяца назад
And you have to live in China.....
@fenkliew7550
@fenkliew7550 3 месяца назад
The Chinese people have been sold on the miracle and become boastful about their rapid progress. Miracle or not, you need to follow the story until the end for a reckoning closure. The elephant in the miracle room is debts, a huge one. Debts is good only if it is incurred to fund investments optimally, not to fund vanity projects and corruption, wasteful subsidies, surpluses, etc.
@SeeLasSee
@SeeLasSee 3 месяца назад
Worldwide distant suburbs and bedroom communities are usually hit the most by real estate downturns. Also vacation towns and cities. I am sorry for those who may never recover their money or be underwater for 20 years.
@joerudnik9290
@joerudnik9290 3 месяца назад
Wow, I guess China should have given priority to those foreign investors and companies. Now what do they have??? The foreigners should have been ‘honored guests’ not victims of theft and threats.🤨🤬🤬🤬
@shinzoki3803
@shinzoki3803 3 месяца назад
Why would China want foreign investors monopolizing in China do you hear yourself
@WOMFT
@WOMFT 3 месяца назад
I'm surprised they got concrete 😂
@DivinePonies
@DivinePonies 3 месяца назад
Chinese real estate balloon not sustainable and taking down all businesses around it? Kids in kindergarten are absolutely shocked by this unpredictable development.
@raiyu1985
@raiyu1985 3 месяца назад
Proverbs 29:2 When the godly are in authority, the people rejoice. But when the wicked are in power, they groan.
@0l550
@0l550 3 месяца назад
Who is taking care of all the maintenance on all of these empty homes? As a homeowner things wear out overtime it just happens and if nobody’s there to use anything, then that wears out even faster. I see this quickly, turning into a huge disaster of cities, falling into disarray and ruin.
@scottgordon1781
@scottgordon1781 3 месяца назад
just too many houses for to few people . . No job cannot pay even a low rent !
@oscargrainger2962
@oscargrainger2962 3 месяца назад
If the plastic bottle and paper industries falter the building industry is in real trouble.
@rogerbartlet5720
@rogerbartlet5720 3 месяца назад
I'm interested to see how much exposure the West has to this mess.
@DrawnInk1
@DrawnInk1 3 месяца назад
I don’t think that much actually. Mainly Pakistan, African and South American countries.
@Chris.Davies
@Chris.Davies 3 месяца назад
My long term estimation 2 years ago was for a 95% drop in property values - so 90% is almost all the way to the bottom - where people can actually buy a place, and not lose money. When those (originally) 600,000 yuan apartments hit 30,000 - the market will stabilise, and then improve. Fingers crossed. This only applies to non-tofu dreg buildings, of course. The residual value of a tofu dreg building is negative, because demolition is expensive.
@richardcraniumXLVII
@richardcraniumXLVII 3 месяца назад
based on these pics, those "units" look about the size of a walk-in closet
@bezlew2639
@bezlew2639 3 месяца назад
I didn't know that they needed concrete for their buildings as they have used oil barrels, foam and non building materials o build their structural walls, creating dangerous buildings.
@richardcraniumXLVII
@richardcraniumXLVII 3 месяца назад
ha ha "Chinese CEMENT" ??? no wonder the buildings are falling apart ... .
@ducknorris233
@ducknorris233 3 месяца назад
I heard something like the Chinese used more concrete in the last decade that had ever used by mankind in all the previous years.
@RodrigoPalma700
@RodrigoPalma700 3 месяца назад
Thanks for sharing.
@Rubberduck-zt8lm
@Rubberduck-zt8lm 3 месяца назад
this video Reminds me of the Soviet union in the start of the 90`s
@nikkisharp7479
@nikkisharp7479 3 месяца назад
We must consider the shrinking population in China when thinking about future construction.
@AG-en5y
@AG-en5y 3 месяца назад
Brutal
@scottgordon1781
@scottgordon1781 3 месяца назад
Why would anyone buy an apartment that is so broke , it cannot pay the interest on its debt , let alone pay workers to build it ! Year on year figures are too short term , be nice to hear about the last 5 years , tks .
@GHST995
@GHST995 3 месяца назад
Let them eat cake, or rock flower garden cake!
@Paetaor
@Paetaor 3 месяца назад
CO2 production is dropping because of this.
@glum75
@glum75 3 месяца назад
I might buy a Chinese condo at 100 yuan per sq meter.
@gbrkura4467
@gbrkura4467 3 месяца назад
The recession caused by China's Minsky moment has only just begun and will continue for another 20 years. Housing prices have fallen by about 40% from their peak, but this will be 1/10 of their peak. There are already 3.5 billion homes for a population of 1.4 billion, and the value of the homes for 2 billion is zero. And the durability of these homes is only 30 years. Consumption will not recover until these mortgages are paid off.
@dougsheldon5560
@dougsheldon5560 3 месяца назад
I'm wondering if existing mortgages are "assumable " like her in the US.
@randolphbienmateo8174
@randolphbienmateo8174 3 месяца назад
Even the Chinese cements cannot be trusted for their tofu quality
@Jaysqualityparts
@Jaysqualityparts 3 месяца назад
How can a concrete company which make tofu concrete go out of business with all the corner cutting they’ve done? They should have a few years worth of extra money they saved from selling foam filled concrete.
@leiag201
@leiag201 3 месяца назад
Easy on those filters sweetheart 😬
@TaintedStaff
@TaintedStaff 3 месяца назад
Concrete? has the appearance of concrete but the durability of sticks...
@Renwoxing13
@Renwoxing13 3 месяца назад
Don't slander sticks like that! Wood is god tier !
@popcorn6931
@popcorn6931 3 месяца назад
don't worry be happy...
@michaelstevens3479
@michaelstevens3479 3 месяца назад
Damn thats why my eight cubic metres did not turn up then?
@MarqueWitts1987
@MarqueWitts1987 3 месяца назад
15:29 No, THEY have houses.....not her
@gf5617
@gf5617 3 месяца назад
Putin and Xi "didnt" know who their enemies were....but they do now😂
@sleepinglaffey3886
@sleepinglaffey3886 3 месяца назад
Patriotism of Winnie PorkPooh - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters. -Chinese 🇨🇳 property sector, which accounts for 30% of GDP, is crashing -Exports and imports, accounting for 37% GDP, are down. -Foreign investment is falling over 90% compared to it's peak in 2018. -Foreign visitors are down 96% compared to the pre-pandemic level in 2019. -Consumer prices are experiencing deflation. -Youth unemployment hits over 21% (in reality 50%+), a record. -It's fast shrinking workforce is 10 years old than neighboring countries. daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card Organ Leeks #sloprosperity #theskydontlie
@astralclub5964
@astralclub5964 3 месяца назад
Tofu Dreg concrete!
@Nookdashiddole
@Nookdashiddole 3 месяца назад
Nookdashiddole
@kyliechen5263
@kyliechen5263 3 месяца назад
This is the best time to buy when prices are so low.
@ciffenwealth
@ciffenwealth Месяц назад
Its clear that the infra-construction are all used to make money big-time on pocket, if you're in the side of politics. Big bang rich is the construction company and the politics.. one time millionare, and this unfinished building will become ghost tourist someday, like a Chinese construction made in Cambodia..it turns the villages ghost town tourist.. in Malaysia-Chinse Construction.
@Ukie88
@Ukie88 3 месяца назад
Tofu concrete anyway.
@berja3895
@berja3895 3 месяца назад
every one of China Observer almost puts me to sleep. The AI narration is blah blah blah
@MickaelMickael-wv9hs
@MickaelMickael-wv9hs 3 месяца назад
I like Chinese women
@jhepoy944
@jhepoy944 3 месяца назад
😂😂😂😂😂😂
@pbreedu
@pbreedu 3 месяца назад
Considering China's declining birth rate, I can't see a happy ending to this housing crash. I hope I'm wrong because the world needs a successful China for peace and stability.
@BubuH-cq6km
@BubuH-cq6km 3 месяца назад
😍 🎤 👩🏻 💻 📺 🥰 💘
@jamesdallas1493
@jamesdallas1493 3 месяца назад
China can export the concrete to the BRICS Countries! 😂
@NeoTsuKhoon
@NeoTsuKhoon 3 месяца назад
China can handle her own affairs. It is none of your business, no matter how hard you try to smear every aspect of China activities. Keep you unsolicited opinions to yourself
@Wumao50centarmy
@Wumao50centarmy 3 месяца назад
60k for a house ???? even your mothers house isn't that cheap ,who believes this nonsense.
@coolemperor8257
@coolemperor8257 3 месяца назад
This is the truth how do u know it’s fake?
@Wumao50centarmy
@Wumao50centarmy 3 месяца назад
@@coolemperor8257 I know it's not true ,because I live in China .
@coolemperor8257
@coolemperor8257 3 месяца назад
@@Wumao50centarmy so your committing a crime by using a vpn to watch this video
@Wumao50centarmy
@Wumao50centarmy 3 месяца назад
@@coolemperor8257 Everyone uses VPNs it isn't that serious ,only people outside of China thinks it's a crime because most of you are un educated or from poor backgrounds.
@coolemperor8257
@coolemperor8257 3 месяца назад
@@Wumao50centarmy sir using a vpn is a crime because people can see the truth about China if it’s not a crime you don’t live in China
@Know_Your_Enemy
@Know_Your_Enemy 3 месяца назад
2:48 It blows my mind every time I’m reminded that No One Actually OWNS their home in China. 70 Year ownership rights?! If you tried that in the US or any Western country you’d be laughed out of business!!
@sachinmesta4238
@sachinmesta4238 3 месяца назад
Concrete mixing bosses were doing well providing substandard concrete to all the Tofu dreg constructions, but now the Real estate market is going down.
@protorhinocerator142
@protorhinocerator142 3 месяца назад
Concrete made of newspaper strips and flour paste.
@pyrioncelendil
@pyrioncelendil 3 месяца назад
Papier-mâché in other words.
@iamcarbonandotherbits.8039
@iamcarbonandotherbits.8039 3 месяца назад
Never seen an economic bubble grow so quickly to burst so spectacularly.
@hungo7720
@hungo7720 3 месяца назад
The catastrophic real estate collapse has induced severe consequences for concrete companies as the construction sector teeters. This trend is irreversible and it's about to deteriorate.
@scottgordon1781
@scottgordon1781 3 месяца назад
the downside of the property ponzi scheme . more to come .
@wheezysqueezebox7651
@wheezysqueezebox7651 3 месяца назад
They're not houses, they're apartments, and people aren't able to buy them, they're taking out long term leases. They will probably collapse, long before the lease is up.
@TheTektronik
@TheTektronik 3 месяца назад
They're using concrete on those buildings? Really?
@kimoe188
@kimoe188 3 месяца назад
Making cement for concrete is one of the most environmentally unfriendly industries. If no more is made then maybe the weather in China will improve.
@bruderbro907
@bruderbro907 3 месяца назад
From a rust belt transplant, I feel bad for the people, but not surprised as China is now going through what we did years ago.
@maximusanthoniodelatorre
@maximusanthoniodelatorre 3 месяца назад
welp, there goes the tofu concrete
@yoda6051
@yoda6051 3 месяца назад
Concrete Mixer Trucks* with no cement and no work tickets. Sad!
@dougsheldon5560
@dougsheldon5560 3 месяца назад
Yes, we're learning all about the quality of your product.
@RatTerminator
@RatTerminator 3 месяца назад
Hope they dont export this Crap!!
@commonsense5741
@commonsense5741 3 месяца назад
Probably a bad idea to shut down the economy for over 2 years because of the flu.
@JosephineBovain
@JosephineBovain 3 месяца назад
No. China hurt themselves. Because CCP member know that made in china best way saving their face. What cause losing their face. Coming from xi jing ping getting his way and shut down best companies of china. effect massive employee and business lead to total damage own economy. CCP must realize wanted keeping made in china remain open for the future, if not.. They going suffer without great company.
@billhundreds8762
@billhundreds8762 3 месяца назад
😂😂😂
@midimusicforever
@midimusicforever 3 месяца назад
Tofu trucks standing still. OOF!
@Chris.Davies
@Chris.Davies 3 месяца назад
I guess this is what happens when your growth is fake, and consumer "wealth" is based on nothing but insanely inflated property prices, where the structures themselves are tofu dreg. The situation would be a disaster even if the structures themselves were well-built productive assets. But with the tofu dreg chucked in on top of the insane property bubble - yeah, a disaster is the best that can be hoped for. I'm slowly starting to feel sorry for the Chinese people, and the suffering they will endure as the economy continues to correct itself.
@justmythought7658
@justmythought7658 3 месяца назад
In my imagination, an Australian is just saying to the Chinese: "That's not concrete. THAT's concrete!".
@jeffrice3044
@jeffrice3044 3 месяца назад
Jeff Zhang since he works at MorningStar should know better. If you currently have 2.5 times the homes then the population and your population / demographics are crashing. Housing and housing stocks will not rebound. At some point (apparently it's happening now) the rank and file Chinese will realize storing money in an asset that does not generate money and supply far outstrips demand will not be worth much. I have seen stats that if this was in a western country these home were worth only 10-15% of what was paid AND/ some 70% of Chinese savings are in homes. Holy crap. This is a disaster of epic proportions.
@redj59
@redj59 3 месяца назад
Chinese quality concretes? Contradiction in terms.
@j562gee0hdeewestsdegethemuLa
@j562gee0hdeewestsdegethemuLa 3 месяца назад
Y'all selling Temu Tofu.. not concrete
@brettloo7588
@brettloo7588 3 месяца назад
0:25 WOW, that concrete is way way too wet! (hell all the clips) Tofu aggregate might not have been the best choice
@robertb.seddon1687
@robertb.seddon1687 3 месяца назад
Reopen once you learn how to make actual concrete!😅
@lammatt
@lammatt 3 месяца назад
This is way worse
@johnbannister9212
@johnbannister9212 3 месяца назад
Right, Chinese "quality". Uncontrolled discharge leads to segregation of the aggregates and lower strength. That's fine, maintain the tofu-dreg products. Endemic.
@Fireguy97
@Fireguy97 3 месяца назад
Why is the Chinese concrete industry concerned about quality now? For years they've been cutting corners and selling tofu concrete to the construction industry for higher profits and corruption. Why start with offering quality control now?
@stevepailet8258
@stevepailet8258 3 месяца назад
Amd so the pig moves theu the python. To many pythons with pigs caught in their throat... Now the pythons are starting to die. The Chinese built enough NEW buildings to house nearly 3 times the total population. Figuring that most of this development happened in the cities and the Ghast cities and nothing in the rural areas means that the real location of these developments is skewed. Becaise pf the social structure of women and mens relationship this has been a huge driver in housing.. Can you say left over women?? They are not marrying and the pressure to buy a house has dropped dramatically.. Add on this Localized employment issues and you have a perfect storm happening on the demand side of housing
@girnogiovana6577
@girnogiovana6577 3 месяца назад
no more cemen
@dulseeater4019
@dulseeater4019 3 месяца назад
Just print more money, problem solved.
@sadikmeah4057
@sadikmeah4057 3 месяца назад
They should increase immigration to China. I personally would love to move to China and would happily buy an apartment
@samdc-usa2745
@samdc-usa2745 3 месяца назад
Export up a lot for record high in May 2024
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