freediver wrote on May 19
th, 2024 at 1:43pm:
thegreatdivide wrote on May 19
th, 2024 at 12:18pm:
freediver wrote on May 18
th, 2024 at 8:42pm:
thegreatdivide wrote on May 18
th, 2024 at 4:28pm:
Actually the productive capacity of China is now so huge, the government can subsidize consumption by low income groups,
Are you hoping they will get as fat as the Americans? This is just the sort of thinking that will drag them back to the Mao era. You can already see it happening.
Good point. By
consumption I mean healthy consumption from the point of view of both the public and private sectors, including provision of services and infrastructure which improves peoples' lives.
eg subsidized rents: China can build - has built - as many good housing units as required to house everyone, including low income groups, but the private sector has stuffed up because people can't afford to buy the houses built in the private-sector 'housing as investment' scheme for private wealth creation by rent-seekers - hence Evergrande's collapse.
Ah. Subsidise
healthy consumption. Is there any aspect of people's lives the CCP doesn't want to control?
Haha- see how the ideologically blind FD turns
quality consumption - to eliminate poverty - to "control" by the CCP; it's actually my presciption for sustainable prosperity, though the CCP is taking small steps in this direction.
Quote:From what I heard the CCP built way too many, though not necessarily of "good" quality. They have dozens of ghost cities. Brand new cities with no-one in them. The CCP is trying to do to the housing industry what they did to the farming industry during the Great Chinese Famine. It is mind boggling how the CCP is allowed to repeat the same moronic mistakes over and over again.
What you heard is wrong. The
private sector built more houses than could be bought by the public, in a 'housing for investment' frenzy.
Fortunately, some local governments are now buying these unsold houses, to let for affordable rents.
Quote:But just keep parroting their propaganda for them. Just ignore those empty cities, ignore the tens of millions of dead people, but if a private company collapses and investors lose money, it proves the failure of capitalism.
Corrected above ; the
free market is subject to failure. Affordability of housing for low income groups is the problem.
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