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China's real estate prices having dropped 50% or more has been accompanied by/caused by wages being slashed 50% or more, and increasing unemployment rate, such

China's real estate prices having dropped 50% or more has been accompanied by/caused by wages being slashed 50% or more, and increasing unemployment rate, such as 30%+ for youth. Here are some good posts on why nobody wants deflation: https://www.reddit.com/r/AskEconomics/comments/uzq5bu/why_is_deflation_regarded_as_a_bad_thing/ https://www.reddit.com/r/AskEconomics/comments/uzq5bu/why_is... https://www.reddit.com/r/AskEconomics/comments/mbsxyl/can_someone_explain_to_me_why_deflation_would_be/ https://www.reddit.com/r/AskEconomics/comments/mbsxyl/can_so... https://www.reddit.com/r/AskEconomics/comments/yotf0c/i_dont_see_how_deflation_if_bad/ https://www.reddit.com/r/AskEconomics/comments/yotf0c/i_dont... also coincidentally and recently, China’s Xi Jinping asked ‘What’s so bad about deflation?’ amid economic slowdown https://fortune.com/2024/12/29/china-economy-deflation-xi-jinping-growth-slump-consumer-producer-prices/ https://fortune.com/2024/12/29/china-economy-deflation-xi-ji...

roenxi 2y ago
So some might suggest that the problem is wages being slashed by >50%? Falling real wages are actually a problem. And, AFAIK by definition, are not influenced by inflation or deflation. But if wages had fallen by <40% and prices by >50% then the overall situation was probably improving. A bit chaotic to be comfortable, but not fundamentally worse. And there is an unemployment problem too, obviously.
suraci 2y ago
Your reference is a bs 'CCP is a secret and authoritarian regime that wields immense power' vs 'Some random reporter with English firstname and Chinese lastname know what Xi said before he go to bed' Have you ever wondered if there's a tiny possibility that the media and the reporter *might* be lying? ...
- rangestransform 2y ago
  It’s definitely less rule by committee than the Hu administration, and even the Xi administration pre-deposing Li Keqiang

roenxi 2y ago

So some might suggest that the problem is wages being slashed by >50%? Falling real wages are actually a problem. And, AFAIK by definition, are not influenced by inflation or deflation. But if wages had fallen by <40% and prices by >50% then the overall situation was probably improving. A bit chaotic to be comfortable, but not fundamentally worse. And there is an unemployment problem too, obviously.

suraci 2y ago

Your reference is a bs 'CCP is a secret and authoritarian regime that wields immense power' vs 'Some random reporter with English firstname and Chinese lastname know what Xi said before he go to bed' Have you ever wondered if there's a tiny possibility that the media and the reporter *might* be lying? ...

rangestransform 2y ago
It’s definitely less rule by committee than the Hu administration, and even the Xi administration pre-deposing Li Keqiang