Please link to an English translation or article summary in the comments.

Related discussion: https://lemmy.ml/post/17045588

Really? Damn. Either way, archive link in the comments would be preferred.

Are you? You don’t seem to be listening.

If you refuse to read what Castro actually said, that’s hardly my problem.

Weren’t ships declaring CHINESE CREW AND OWNER on AIS and successfully traversing the strait? That’s what I remember browsing the AIS tracker sites a few weeks ago

You claimed that real estate is one of the easiest ways for people to invest their money.

In the future when citing Reuters, please use one of Reuters’ official outlet links (reuters.com, YouTube/Twitter from the Reuters account).

Good, now read what Castro actually said on the issue (when he wasn’t busy being assassinated by the CIA).

How does lowering down payment requirements from 50% (!!!) prop up a market? It tweaks the demand curve a tiny bit, but like I said it’s towards engineering a soft landing. I told you that the central government is trying to engineer a soft landing. What evidence do you have that disproves this?

Investors (who could afford to buy multiple homes) lose money. How terrible.

Is this a common thing in the US? Evaluating investments based on how easy they are to make, independent of their PnL?

Look back at your original comment and come back. Read carefully, like they taught you in primary school.

Shenyang in north-east China is offering 100 yuan (£11) a sqmetre subsidies for some homebuyers. Kaifeng in central Henan province is offering an income tax refund to anyone who buys a new property within a year of selling their old one. Changhsa, the capital of Hunan province, is encouraging developers to offer no-questions-asked refunds of housing deposits if a buyer changes their mind within seven days.

Local stimulus, which differs from Central government policy because contrary to popular belief the Chinese government is not a monolith. Different provinces want to get investment at the cost of other provinces, but this does not change the fact that in aggregate China’s bubble is actively being deflated by the actions of the central government. The prevailing trajectory of the market, and the actions which the central government have taken in this regard, are very clear. In modern terms, this is “picking up pennies in front of a freight train.”

Last month, the state-owned People’s Bank of China (PBOC) unveiled a 300bn yuan relending fund to support local governments and state-owned enterprises to buy up unsold stock and turn it into affordable housing. The central bank also lowered the minimum downpayment required for prospective buyers.

sigh do you know what the minimum down payment for a home in central Beijing is? 50%.

Give me an action that indicates the central government is not trying to institute a controlled collapse (“soft landing”) of the real estate market. The numbers don’t lie, but apparently you do.

First of all, the Saudi Arabia-US petrodollar deal was signed in 1974. 2024-1974 < 80. I’m locking this post.

The Guardian doesn’t speak Chinese (or rather, they don’t understand it). Their reporting on China is consistently incompetent for that single fact. They refuse to dig through Chinese reports and Chinese data because they can’t understand it. The data is right there, plainly published for the world to see.

If they did, they would know that real estate’s contribution to GDP has fell off a cliff ever since Xi Jinping declared “housing is for living, not for speculation.” If they did, they would know that investment into real estate has pretty much entirely collapsed and shifted into manufacturing (clean energy, EVs, nuclear, robotics, etc.) If they did, they would know that their stories about “ghost cities” a few years back… Ended up being, well, cities. If they did, they would know that the prevailing thought on Chinese social media is that the government is allowing real estate developers to fall… And they’re definitely falling.

That’s what the data tells us. The bubble is actively deflating as we speak, and many estimate it to have been in excess of a 1% headwind on GDP growth in 2023… Citi just revised their projections of full-year GDP growth to 5%, and so have Goldman Sachs and BNP Paribas.

You should maybe read up on Haitian independence…

Developers losing money and consolidating property assets in the government? What, exactly, does this threaten?

GDP growth? It’s been a 1.5% headwind, and China is still blowing through GDP projections.

Climate change? The collapse of the construction industry has been a huge net positive for emissions reductions.

Housing prices? Those have been going down.

Savings? Only insomuch as if you intended to own multiple homes (that is, you’re the landlord class). Otherwise, you still own a single home that you need to live in.

All Haiti has to do was send it’s slaves back to France, I really don’t see the problem.

I’m not claiming that navigation for military vessels is limited. Like I mentioned, FONOPs are valid under UNCLOS.

Potato, potato