going to be an exciting week in china real estate markets another big developer probably missing a bond payment today, evergrande likely to formally hit default at some point this weekhttps://archive.is/qkINL
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oh shit xi was (is?) trying to push through a property tax. note that previously this had not existed in china note this is functionally a bigass bite to the use of real estate as /the/ household store of value in chinahttps://www.wsj.com/articles/in-tackling-chinas-real-estate-bubble-xi-jinping-faces-resistance-to-property-tax-plan-11634650751 …
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price floor would make more sense in this context. lol. government sets asset price and also tax rate what could go wrong apparently theres an incipient party rebellion over this interesting times and all that
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i wonder if this is what (partially) prevents china from winning a hypothetical war with the us
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It's the oil, among many other things They just don't have the blue water capacity to fight us in the Indian Ocean, which means we could cut off a staggering amount of their oil supply.
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This crisis is unfolding so gradually my attention span can't keep up. I first heard of this 58 news cycles ago.
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the interesting bit will be whether this relaxes their labor markets by making the internal migrant labor markets more able to buy property. alternately it might break labor markets if they lose faith in housing.
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>i dont understand how their markets work at a granular level Among the biggest questions of the moment is whether anyone actually does, to include Xi & CCP.
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calling them markets is generous
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