463 sats \ 4 replies \ @elvismercury 8 Dec 2023 \ on: China: Real Estate Still Crashing econ
Any idea of how this is being felt, practically, by Chinese citizens? Like, in the USA, I know how 2008 manifested in people's lives, but I have no sense whatever what it's like to be Chinese with this going on.
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734 sats \ 3 replies \ @TomK OP 8 Dec 2023
Hard to get valid info out of this country but I remember some protests during the first Evergrande spectacle. They let them suffet. No bail-outs
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229 sats \ 2 replies \ @Undisciplined 8 Dec 2023
I have a friend over there and it sounds like the employment situation for young people is pretty rough.
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452 sats \ 1 reply \ @Diego 9 Dec 2023
Similar, I asked a friend and he said that that youth unemployment is a big problem. Particularly is rural areas. Property issues has been know for a while.
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452 sats \ 0 replies \ @TomK OP 9 Dec 2023
Officially it's 25%. I read sth like 35% unemployment is more accurate
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