I've been hearing about ghost towns and the coming Chinese economic collapse now for ten years. It will probably happen after Trump is behind bars at this rate.
this post was submitted on 05 Sep 2023
183 points (94.6% liked)
World News
39416 readers
3218 users here now
A community for discussing events around the World
Rules:
-
Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
-
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
-
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
-
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
-
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
-
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
-
Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
-
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
Lemmy World Partners
News [email protected]
Politics [email protected]
World Politics [email protected]
Recommendations
For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
founded 2 years ago
MODERATORS
FYI:
Many developments initially criticized as ghost cities did materialize into economically vibrant areas when given enough time to develop, such as Pudong, Zhujiang New Town, Zhengdong New Area, Tianducheng and malls such as the Golden Resources Mall and South China Mall. While many developments failed to live up to initial lofty promises, most of them eventually became occupied when given enough time.
Reporting in 2018, Shepard noted that "Today, China’s so-called ghost cities that were so prevalently showcased in 2013 and 2014 are no longer global intrigues. They have filled up to the point of being functioning, normal cities".
Where are our hexbear friends to talk about this?
Well, you see, this article is obviously propaganda. Because I don't like what it says.
Also, you have no idea what you're talking about, liberal!
Don't they got defederated together with Lemmygrad?
Yeah hard for them to dispute this after you banned them 😛
They defederated from our instance at least. Didn't like us calling Xi Poo Bear.
Maybe it's time for Lemmy.ml to join in the paradise of a world without 12 pig ass emojis the size of the entire screen flooding the conversations.
Those on hexbear's side are nowhere as big as on our side. They are emojis over there. Over here they are full images. I think the developers are working on a solution for this, if I'm not mistaken.
I think the developers are working on a solution for this, if I’m not mistaken.
Yep, still working on that solution. Still waiting. Probably going to get fixed in 12 months at this rate.
This is a Lemmy.world post, I don’t think they see this
"But how is this any different than the AMERICAN market because of this single high level parallel?!"
Most of them got defederated, unfortunately.
This is the best summary I could come up with:
BEIJING, Sept 4 (Reuters) - Chinese President Xi Jinping's first major reform plans a decade ago were also his boldest, envisaging a transition to a Western-style free market economy driven by services and consumption by 2020.
The 60-point agenda was meant to fix an obsolete growth model better suited to less developed countries - however, most of those reforms have gone nowhere leaving the economy largely reliant on older policies that have only added to China's massive debt pile and industrial overcapacity.
That has kept consumer demand weaker as a portion of GDP than in most other countries and concentrated job creation in the construction and industrial sectors, careers increasingly spurned by young university graduates.
Logan Wright, a partner at Rhodium Group, says Beijing has to decide which portion of that debt to rescue, as the amount is too large to provide full guarantees of repayment, which the market currently regards as implicit.
Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis, expects there would be plenty of buyers if Beijing consolidates debt given limited investment alternatives.
Those plans have barely been mentioned since 2015 when a capital outflows scare sent stocks and the yuan tumbling and engendered an official aversion to potentially disruptive reforms, analysts say.
The original article contains 983 words, the summary contains 208 words. Saved 79%. I'm a bot and I'm open source!
~~President~~ Dictator.
FTFY
President can refer to an unelected leader. However the position of the president in China is purely ceremonial, so it could be argued that the more important title Xi holds is General Secretary, which is a title the PRC "inherited" from the Soviet Union which I feel like is closer to the position of a prime minister in European countries (ie the leader of the ruling party), though I admit my understanding of Chinese politics is quite shallow.
China's economic miracle? I don't believe in miracles. I don't believe articles that talk about miracles.
China is both a dangerous enemy and they're about to collapse. The enemy is both strong and weak. Umberto Eco called that one of the characteristics of fascism.
Why does this have so many downvotes? We do sound like fascists talking about China like they are somehow both on the verge of collapse and our greatest threat. Yet they produce all our shit.
Do you spew this same kind of garbage when the target of criticism is Neoliberalism, or do you only jump in to defend China? Neoliberalism: Political Success Economic Failure
Is this link also characteristic of fascism?
I am not defending China, just pointing out a crappy argument.
We're becoming more and more fascist in the west, with politicians like Trump, DeSantis and so on. This article from Reuters is part of this shift to the right and that's why I'm pointing it out. Fascism is a bigger risk to our way of life than China is.
Umberto Eco's list of fascist characteristics are applied to how they view themselves, not how others view them. Strength is dependent on many things to help maintain that strength and weakness is antithetical - a thing cannot be weak and strong by the same metric. You calling them both weak and strong is fascist, it isn't true because you're using different metrics to measure different parts of China.
A thing can't be weak and strong by the same metric, indeed. That's why this article has to call China's economical strength a miracle, as well as so weak it is about to collapse, otherwise the contradiction would be too obvious.
How many decades have passed where we've been told they are on the verge of collapse? It's always right around the corner. This is Schrodinger's China, simultaneously weak and strong.
This is nothing more than red scare propaganda to diminish the achievements of a society outpacing the US
Is this your first economic crisis or something? Do some search-replace work and this article looks like a copy-paste dupe from 2008. Their capitalist society is about to get a market correction as the bubble bursts. That's all.
The real propaganda at work here is that anything negative about China is automatically "red scare" and not just boring old "business news".