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China’s banks face cash crunch fears after authorities seize lender
- youeeeeeediot 7y agoChina needs to adjust their official target of 6-6.5% GDP growth per year - it is completely unsustainable and has caused far too many risks to be taken in order to maintain it. Unless they want the bubble to pop? I can't imagine the social upheaval it would cause there (and throughout the rest of the world)
- jorblumesea 7y agoImplying that China is correctly reporting their true GDP. Given how opaque their system is in general, it's hard to trust any official sources. It's likely they are ~2% lower than officially reported already. https://www.ft.com/content/961b4b32-3fce-11e9-b896-fe36ec32aece https://www.ft.com/content/961b4b32-3fce-11e9-b896-fe36ec32a...
- outside1234 7y agoWhen China blows up it is going to be truly spectacular: it is going to be a depression on top of a civil war on top of a movement for democracy.
- supertiger 7y agodon't hold your breath
- baq 7y agoremember tiananmen? couple thousand people run over by tanks is a price worth paying for that government.
- pxue 7y agoI predict mass real estate sell off in every major city around the world. Millenials world wide collectively let's out a sigh of relief.
- aero142 7y agoWhy though? What would the wealthy Chinese people that own it want to do with the cash instead? I would think having your investments in a stable country instead of one in chaos would be ideal?
- evgen 7y agoIt is possible that some may feel the need to become liquid in short order, but I think that most are going to be smarter and follow your thinking. Owning real estate outside of China gives them an asset that is relatively safe from being seized and which can help fund a flight to safety if it ever comes down to a 'blood on the streets' scenario.
- TheOtherHobbes 7y agoHow many of those wealthy Chinese - never mind non-Chinese banks and investors - own property clear, and haven't leveraged it to "re-invest" it?
- dang 7y agohttps://news.ycombinator.com/item?id=20315086 https://news.ycombinator.com/item?id=20315086
- ohiovr 7y agoDifferent source
- dang 7y agoBut it's the same story, no? What matters on HN is not whether the URL is the same, but whether the discussion will be the same.
- ohiovr 7y agoWhat about all the Jony Ive stories?
- dang 7y agoThat's something of a borderline case. We buried most of them as dupes but also spared a few. When there's a blockbuster story like that, there's a lot of energy in the community to keep talking about it, and articles tend to appear that offer significantly different perspectives. In the case of https://news.ycombinator.com/item?id=20322032 https://news.ycombinator.com/item?id=20322032, currently on the front page, I'd say that's a different story.