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CCP has been doing the opposite for the past year, letting the big construction companies go out of business and not bail them out and letting the housing bubbl

CCP has been doing the opposite for the past year, letting the big construction companies go out of business and not bail them out and letting the housing bubble deflate, with housing becoming more affordable. That is actually the biggest reason for the bad economic numbers (at least available numbers, since the youth unemployment is being "revisited") coming lately from China. IMO don't think people should be worried if magic numbers (GDP) go down because housing is becoming affordable.

gsky 3y ago
CCP does whatever it takes to avoid high level unemployment which causes riots. That's why going GDP sounds bad for CCP. Do you really think CCP cares about housing affordability? Either it's a war or roads to nowhere to keep their population busy.
- whimsicalism 3y ago
  > Do you really think CCP cares about housing affordability? Yes, absolutely so
- pphysch 3y ago
  Keeping people "busy" (distracted) in 2023 is really easy. Just give them a smartphone and unlimited Internet access. So I'm not sure your theory holds up.
  - gsky 3y ago
    How are they gonna feed their families and what would they do if they can't?
  - OfSanguineFire 3y ago
    I don’t know about that. Social media in the West has encouraged behaviors (greater outness of LGBT, advocacy for minorities, new subcultures like furries) that the CCP feels, at least in the Chinese context, would pose a risk to social stability and harmony. China expends huge effort on keeping its citizens’ internet activity tightly censored and surveilled. Its authorities might even have preferred that the Chinese population did not have smartphones with unlimited internet and were instead kept more atomized, but the cat is already out of the bag and the internet is too important to the economy.
    - pphysch 3y ago
      Unlimited as in no time/data limit, not "unlimited Western propaganda"
      - OfSanguineFire 3y ago
        Yes, I understood that.

gsky 3y ago

CCP does whatever it takes to avoid high level unemployment which causes riots. That's why going GDP sounds bad for CCP. Do you really think CCP cares about housing affordability? Either it's a war or roads to nowhere to keep their population busy.

whimsicalism 3y ago
> Do you really think CCP cares about housing affordability? Yes, absolutely so
pphysch 3y ago
Keeping people "busy" (distracted) in 2023 is really easy. Just give them a smartphone and unlimited Internet access. So I'm not sure your theory holds up.
- gsky 3y ago
  How are they gonna feed their families and what would they do if they can't?
- OfSanguineFire 3y ago
  I don’t know about that. Social media in the West has encouraged behaviors (greater outness of LGBT, advocacy for minorities, new subcultures like furries) that the CCP feels, at least in the Chinese context, would pose a risk to social stability and harmony. China expends huge effort on keeping its citizens’ internet activity tightly censored and surveilled. Its authorities might even have preferred that the Chinese population did not have smartphones with unlimited internet and were instead kept more atomized, but the cat is already out of the bag and the internet is too important to the economy.
  - pphysch 3y ago
    Unlimited as in no time/data limit, not "unlimited Western propaganda"
    - OfSanguineFire 3y ago
      Yes, I understood that.