Why China’s Crazy Housing Bubble REFUSES TO BURST!

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  1. This will eventually end very badly, it’s really just greed on steroids and the people hurt the most are the young graduates entering the workplace, how will they ever survive?
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  2. Well its not just china. In the netherlands house prices are out of control as well. I cannot buy a freaking house because i only have a temporarily contract and dont earn enough..

  3. The punchline to this story is demographics. Property only retains/gains value if there is underlying demand. China’s population is rapidly aging and will start shrinking this decade. Case in point: Japan.

  4. The Chinese do the same here in Australia and are massively inflating the property market.
    There is a big bubble here waiting to burst 💥 …..

  5. Eerily similar to situation in South Korea, with some key differences. The only real difference being that people earn higher wages in SK and land disputes don’t escalate to that level of violence.

  6. My friend in China tells me that many of the supposed luxury aka very expensive apartments are a little better than the cheaper (in price and quality) apartments. They LOOK nicer and the construction companies do pay more in the ascetics. However he says in a short time (2-3 years), cracks start to appear on the walls, stucco starts to chip away, water pipes start to leak, etc. Plus many amenities that lured people to the apartments like water fountains, gyms, etc. are either stopped supported or abandoned. He says he would be crazy to invest in an apartment as a buyer than a renter.

  7. i have been living in vietnam. it is same situation here. massive speculation on real estate, apartment for sure, buy and sell. I though it is because of developing country, but real reason i found out government members are also in it profiting. you can see easy, how? No capital gain tax!!! just until last year, Vietnam government introduced capital gain tax on real estate!!! guess the percentage? only 2%!!! Government members are making hands over fist on real estate, so why would they tax themselves. there is nothing but will go up. of course, you have to invest where government $$ are in real estate. i do not know how china is, but i bet it is similar…..

  8. How does the 70 year lease from the Chinese Government work? Does the 70 years reset when the building is sold from one person to another or does it keep counting down? Like let’s say I’ve owned a building for 60 of the 70 years does that mean the person I sell it to only has the building for 10 more years? That doesn’t really seem like a good investment to them. Can you explain this aspect of the system because I’ve always been confused about it. Thank you and stay awesome!

  9. This video’s content and timing is strangely similar to that of Polymatter (who’s high production video came out first). It’s not the first time either….

  10. And at the same time the Chinese want to own property in western countries. Hence unaffordable real estate in western countries. I know that locals are over investing as well. However no one on average wages gets a look in.

  11. This is authoritarian state capitalism on steroids. How cam anybody still think that China is communist or socialist. Dont fall for the CCP propaganda.

  12. It’s incredible how similar the situation in China is to that of India. Apartments falling apart in a few years, rents not keeping pace with home loan payment, checks all the boxes.

  13. Two errors.1、those farmers who give their land will become very rich,search 拆迁户in Chinese internet,you will find it.2、for apartments,when the 70 years leases expire,they will automaticlly continue and when the government wants to demolish your building,you will get huge compensation,and in China,you dont have to pay property tax。Only a few cities have crazy housing price,because thoses countries have huge influx of people to boost the demand.

  14. on an economic basis, the point is that the system is meant to be a form of feudalism, just instead of being tied to landlord or barron, the system is designed to tie you financially…

  15. That 70 year lease is an interesting point which I have asked about. Apparently, when the 70 years is up, the tenant can pay a tax to have the lease extended. Does anyone know something about this?

  16. | believe serpentza about the China realestate frenzy, have you ever seen any home improvment centres, all I see is Chinese people buying in Canada and US and Austrailia. How do they take the money out of the country.

  17. It isn’t a perfect system, but what system is. And yes people will get burned along the way. But one thing we need to keep in mind is that the actual square footage in China is easily 8 times larger today than it was back in 1980. And not only that, most of the square footage in China has indoor plumbing and electricity. Back in 1980 it was the other way around, most did not have indoor plumbing or electricity.

    Whatever the solution is to erratic housing prices, one thing is certain, total square footage in China will continue to climb.

    I would venture to say, that the total square footage in China is about the same as the European Union and the United States combined. China’s average per capita housing is about 440 ft.² per person. Whereas the European Union is about 500 ft.² per person in the United States 1000 ft.² per person. I might even be overestimating the European Union average, which in that case it’s possible that total square footage in China might actually be larger than the EU and the US combined.

    China will get better at their financial system, but in the meantime, the important thing is to increase the overall square footage in China.

  18. Saying that property is leased by the government for 70 years so you dont really own it is not a real criticism of China. The US government charges a ridiculous amount of money for property taxes even if your mortgage is already paid off, because they are essentially renting the land to you, so you don’t own it. I would rather a 70 year lease in China than a lease from the US government where you can instantly lose your entire property if you miss a payment.

  19. The CCP does not care about the livelihood of common Chinese citizens, they only want to fill their pockets, even if it means killing off a couple thousands of people.

  20. Bank bad debts can’t be liquified and are hidden. It keeps the price stand firm but no transaction or very little. It’s called low liquidity or frozen.
    Their banking system is horrible inside.

  21. Seems the CCP have been taking cues from Singapore’s housing model – the main difference being the homes are better construction quality in SG

  22. Are you out of your mind or just completely overwhelmed by numbers? 90 sqm is A LOT, not the size of a living room. Even in Manila, you have to pay a million usd for a 90 sqm condominium. It is literally the most normal price in the world. Good luck even finding a NINETY same apartment in Manhattan or Silicon Valley if you are already comparing it with Shenzhen. A normal household in Germany is literally 90sqm. How can you be taken seriously when you make such a grievous mistake. I cannot fathom how retarded that take is.

  23. I’m in China now and prices have climbed even higher lately. We’re talking about north of 200k RMB per sqm in some parts of first tier cities. A bigger shoe box is enough to swap a harbourfront Sydney house!

  24. hahaha … you said the average salary in China is $1000 …
    No way ! ! !
    Clearly the average is about $500 a month only.
    Chinese people , keep on dreaming. Praise the CCP .

  25. They do the same thing all over the world ,governments allowed it to happen now there is a big big problem called affordability, they still know how to take money out of China even though China has clamped down on money leaving China, its the governments of the world must clamp down on foreign ownership and vacant properties not by 2to 5 percent but more like make it illegal for foreign ownership got to be done this stupid 2 to 5 percent vacancie tax is a joke need more like like make it totally illegal and confiscated ,governments where the housing is out of the reach of the citizens and rent is a failed government and got to put a end to it for the next generation and stop immigration until things go back to affordability.

  26. !!!~~~!covid-19 originated in the United States. Two virus leaks occurred in the Fort Detrick Biolab in the U.S. in 2019, and the United States virus infected the world.Americans are trying to hide the truth

  27. I had a nightmare once about being in the top floor of a swaying skyrise apartment complex. China: Where nightmares are more real than you could ever imagine.

  28. Sounds like the pyramid scheme to end all pyramid schemes. Global property bubble pops because no one can pay the mortgages (since they are prevented from working due to covid) and the huge global banks seize the property. They own everything. Great Reset.
    They’ll let you still live in their property though…if you pay rent forever. How kind of them!

  29. Australia has reached the point where in the city of Sydney a 2 bedroom apartment costs around 4 million dollars, how anyone buys a house these days I have no idea

  30. I’ve seen this myself. I’ve made a number of trips to 邯郸市, a tier 4 city. The last time, I saw a large development of new apartments that was not there on my previous trip. I asked the people who driving me around about these apartments. They told me that they were way too expensive for them to afford. I thought that if senior engineers and directors can’t afford them , who will buy them?

  31. I wonder when this crazy huge Chinese Ponzi scheme will collapse. In my own country during communism 1948 – 1989, there were also some empty buildings and bad investments but it was nothing compared to China.

  32. Winston I feel like this bubble will continue to go on because of the Hukou system. People need houses in these cities to have their household registration and get their children into the best schools. People will continue to pour all of the resources they can into these homes.

  33. Yet all the single young males will be pressured to spend all of their life savings so they can impress a girl and get married.. This is a disaster waiting to happen

  34. I saw a really good video recently on youtube and it looked at the real driver of China’s national wealth “demographics”. The issue with the property market in china is it is on a collision course with an upcoming reduction in births. Even with the the one child policy being shelved, Chinese people today view wealth as being more important than having children.

  35. The 70 year lease of the property is a ponzy scheme for the money they’re paying. The flippers will make money up to a certain point in the lease (maybe 35 years). Every other flipper will start losing money. The last idiot who buys the property will lose all of his/her money. Rent is not an option to recuperate your investment, only capital gain. The last idiot will have nothing to gain.

  36. I opened an account with HSBC a couple of years ago since I had multiple valid credit and debit cards declined in Taiwan when I needed some cash at ATMs. I figured the HSBC card would work in that region. I heard rumors and recently read they froze the accounts of Hong Kong people fighting for their rights guaranteed by the Sino-British Joint Declaration. The top executives are moving HQ to HK, probably since they are unpopular in the UK for that, stating it is because 95% of the business is in China. I don’t want to do business with them anymore. The zero percent introductory offer is over now. I am closing the account ASAP.

  37. I’m surprised you didn’t mention anything about the ghost cities that the housing market in China creates. It is astonishing to me that they have massive apartment complexes, malls, and public infrastructure environments that are devoid of most life. From what I have heard,. even apartments in these empty “ghost” towns fetch ridiculous rates. Maybe a topic or a sub topic for another video.

  38. You’re numbers are off by a few 100k, the average sq mt price in futian is 100k rmb I have seen them as high 135k It’s crazy and like you said its just a concrete shell

  39. Have the same problem in Indonesia too. Houses very poorly built, often even built inside flood-prone areas. The average Indonesian seems to own 3 houses. Rent is generally around half of the mortgage payment. Walk around any housing estate, around half the houses are usually sat empty.

  40. Keeping the prices very high restricts people from owning these – China has a communist government – and they tend to see private property as something undesirable – at least for the workers – the elites on the other hand – That’s another story.

  41. if the buildings are shoddly built to crumble instantly, investors won’t have 2 years to “sit on it” (unless insurance covers the losses, but still unlikely to make much profit

  42. So… i guess this is the reason why China suck up everybody’s sand. Now even my country has issues building more houses because there is a sand shortage apparently…

  43. America’s property tax is pegged at 0.5%-3% of property value. Property owners need pay hefty property tax every year as long as they keep the property. It is like second mortgage for whole life. Your property could be sold even you owe the local government $50. It is actually the leasehold property even America claim it is freehold property. Many Americans can not afford to pay property tax after they retire as their pension is about $1500 per month. That is why many American people downsize their property after they retire. Essentially the local government own the land and American house owner pay property tax to use the land where the property sit on.

    On the other hand, China’s leasehold property is truly freehold property: There is no property tax in China. 70 year leasehold were renewed normally at the end of 70 years. It is same in China’s rural area. All farmers lease the land from the local government to grow crops/fruits/vegie. They actually pay nothing to the government for the harvest. When local government or developer want to use the land for other purpose, they need pay farmers hefty money or a few apartments plus providing job to farmer for stopping farmer’s lease right.

  44. I see that you included pictures of the Shanghai 13 story high rise apartment building that toppled over. That says a lot about the market. Very risky. And it is not only in China. Singapore, Australia, etc are all seeing hot property markets due to money from China. It is close to criminal 🙂

  45. Lol, 90m2 is not the size of a living room. That is actually very big for one or two people. Would be too small for a family of 4 though.

  46. Not to mention the ecological disaster: Sand for construction is becoming rare and is being managed mostly by the mafias (desert sands cannot be used for construction).

    Many river ecosystems have been totally destroyed across the world for this resource becoming more precious by the year, and now mostly plundered illegally.

  47. Yeah Winston but the thing is, at least the average Chinese person can buy an apartment (even if it is a bubble and even if it’s shit quality). Whereas the average American is having a tough time buying a house which is why so many people are renting, or couch surfing. A 25-year-old Chinese person who is a factory worker in Shangrao (where I am living) could save money and eventually buy an apartment here. Whereas a factory worker at Motorola in Sequin Texas, unless he moves up to a managerial position of some kind, is probably NOT going to be saving money and will be living with his parents (or sharing a house with some roommates) for the entire duration of his job (which might not be very long since factories in the US generally have a high turnover rate).

    In short, having an apartment is better than having no apartment, or living in a tent on the sidewalk.

    I really do think you are still in your honeymoon stage in the US.

  48. Also Winston, why is it that you tell people that if they want to support you, they can send you bitcoin or ethereum? Don’t you trust the US dollar?

  49. Actually I think it is not only China experiencing price spike: US printed out huge amount of US dollars in the last 18 months and caused huge inflation around the world as US dollar is world currency. Now properties in China, Canada, New Zealand etc are inflated. I heard half of US dollars in circulation are printed in the last 18 months.

  50. This is true. Living boxes and horrible quality… this is real true. In Hong Kong is even worst… living cages. Macau is also same story!!!

  51. Mainland Chinese just bought 20 luxury condo in Singapore Orchard Rd-at one go by paying SGD300mil.
    I dont know what is left for Singaporean if people from countries that kept printing monies, stoke inflation export their PROBLEM to other smaller nations.

    Frankly, if anyone count this as support local economy , well i would say:NO THANKS!

  52. I do respect their government for regulating the housing bubble. My town died in 2009 after the housing market crashed. No regulations here to slow down things

  53. I have a feeling that WHEN the Chinese property bubble collapses it will cause a ripple bigger than the SPM crisis in the US 2008 and will probably cause unbelievable societal upheaval in China.

  54. The housing market isn’t as ridiculous as everyone here believing the absolutely must have a house no matter what. It’s not practical for everyone in China to own a home.

  55. I was loosely aware of this. I know it’s a problem in HK where mainland and local money goes into buying property only to leave it vacant before selling it a couple years down the track for huge returns. Devastating in a housing market that already suffers from major shortages.
    Thanks for filling in a few gaps for me @serpentza

  56. Chinese economy is an illusion and a house of cards ready to collapse at any moment .To distract the citizens from the truth about the economy Xi Jing Ping is building up its military forces to commence a war to shift blame to foreigners and rather than the true culprit the CCP and its maladministration

  57. What do ordinary Chinese citizens think about Chinese Forced Labor and Uighur concentration camps? My guess is they will not offer sympathy but say philosophically “if its the Uighurs, it’s not us ” ? On this theme do Chinese people realize the level of police brutality which can & does take place in captivity? Do they accept this as the norm? How aware is the general population of forced live organ transplants from incarcerated minorities?

  58. As someone who does financial analyzes from different companies and sectors this video was very fascinating. I knew the Chinese real estate seemed to be in bubble but now that I hear actual numbers just…wow

  59. Good stuff Winston as usual, nice to see you’re staying as awesome as always with the videos. The funny thing is I was just having a conversation on a certain Mongolian Basket Weaving Forum about the housing market over there. As well to a lesser extent here in the West now as well, it also happened to take place right as I’m reading Peter Zeihan’s Disunited Nations. Particularly after reading the chapter on China in which he specifically brings up the way the housing market in China works. As well as how many Chinese immigrants tend to import the practice of collectively purchasing property as an investment and just leaving it unoccupied. Zeihan comes to the same assessment you and many others here have come to as well as myself. That being this artificially inflated bubble is going to not just ‘pop’ it’s going to explode, with a lot of collateral damage inflicted as a result.

    But for those of us who are aware of the reality of China and not the flashy lights and pretty baubles they show the more gullible members of the international community. Well we know that China will never actually be able to achieve it’s aim of being a “superpower” as far, far to many variables are stacked against it for it to be so. As someone else pointed out here whether it’s China’s massive terminal demographic problem, it’s always vulnerable to blockade(or Canal blockage 😉 energy import sector and many internal security issues in the form of occupied or ‘rowdy'(see independency minded Sichuan Province). Also despite what it may appear like on paper or what the more fear-mongering and cowardly in the West may think China’s military is a joke with no combat experience whatsoever and utterly untested(and unintegrated) combat systems. They also have demonstrated over the last year and a half now that even their nominal allies the Russians no longer truly trust them.

    Of course simply because all these many things are stacked against China both in the long term and short term. The old saying “An animal is most dangerous when cornered and wounded” and I’ve had the feeling for a long time now the good ole’ Xinnie The Pooh is not the type to go quietly. Rather he is very much the type who if he can’t win then no one can and he’ll happily torch the entire damn game board if he thinks he’s losing.

  60. I rent in a small city / town in Zhejiang. The price to buy was the same as the condo I just sold in Chicago, on Michigan Ave. Gold Coast Beach view. Roof deck, valet, doorman, walking distance from Gucci, etc. oh an that’s for the empty concrete one hhh

  61. We in murica charge property tax every year of min 1% of purchase price and increasing every year so it’s not bad for the communities, they can not take the property back to China anyway. Beware, Wumao really hates it when Chinese people takes their money outside Chine

  62. “If you build it they will buy.”
    But… aren’t there ghost cities built in China? Cities for 100k people or more but empty because nobody wants to move there? There’s a whole documentary on DW channel about it.

  63. Perhaps an unpopular opinion: The unstable stock market is actually a good thing.

    In an of itself instability in stock market indicates large amount of investments, and frequent (8-10 years) crashes makes sure only healthy companies stay in business, while poorly run ones bankrupt and rightly so. Protectionist policies enacted to stabilize stock market only delay the inevitable crash in the future and amplify its potential, in that sense I believe China’s stock market is in healthier condition than western stock markets. The 2015 crash was right about that 8-10 years apart from previous crash in 2008 you’ve mentioned, there are heaps of economic data indicating that the most frequent cycle of boom and bust is precisely this long. The western economies delayed the crash for 5 years, and now manufactured one while employing all the wrong tools in order to mitigate it, once we stop this madness our economic crash will put 1929 and fall of the soviet union combined to shame.

    Now, while I believe this instability is good, I also believe that 99% of the people should never even consider entering stock market and instead they should protect and multiply their wealth by land ownership, entrepreneurship , precious metals, etc. but some of these venues are off limits for Chinese people by government mandate.

  64. My parents were from Herzegovina which was part of Austria-Hungary…at that time when my father and mother left to go out of country under the fear of the government left the family farm. The point is this that land is only valued if your life and family are safe.

  65. One thing I don’t get is why would that last buyer buy the apartment that’s about to fall appart and be destroyed. You can’t resell something that doesn’t exist anymore.

  66. Its funny how in the beginning of the video you stayed back in safety and Cmilk went on the edge. I guess you don’t trust that Chinese construction. Or you’re just scared.

  67. building houses keeps people employed. they will pull them down and buildem again , CCP must keep employment going forward . Western business model is far removed from Chinas .

  68. In the U.S., every great recession was preceeded by a high rise boom. China’s high rise boom is the largest in mankind’s history.. Good luck.

  69. One word: Crazy!
    I´m really afraid of China become a world leader. Their religion is money and greed. Today they are taking what they want without any common sense. What will be the future?

  70. I heard somewhere, I think it’s more than half of homebuyers in China are buying their second or third home. With a country as populous as China Let that sink in for a second..
    The impact on the environment must be beyond disastrous.

  71. Hello – I’d love to hear about your take on South Africa (similar to what you do for China). I’d like to suggest that as a topic for some videos. Good luck on life in America!!

  72. Doesn’t most of Asia do this? Build a bunch of apartment complexes/buildings that don’t even last 30-40 years and let them rot and rebuild them again. Organized crime in Japan owns the construction racket though that fuels this.


  74. On March 27 at 3:50 CDT I saw 2 commercials before the video began. At. 4:01 I saw 2 more commercials during the video. There were no commercials after the video.

  75. This is why China limits it’s citizens to $50k of transfer per year out of China…Chinese people have no choice but to only invest domestically

  76. Sounds like what companies do to most things. Make it so that , eventually , you will be forced to buy a new one. Except it is applied to buildings.

  77. I’ll tell you why China real estate market hasn’t bust like 2008 yet: Housing assets are the new fiat currency of the every-day Chinese person who wants to have a nest egg (motivated by abhorrent social securities and pension), but can’t afford to diversify investments overseas thanks to restrictive state fiscal policy.

    TL DR, Fiat currency: the value of the currency/asset is however much the people believe it to be.

    Basically, the people think their properties are worth a certain value, despite evidence suggesting otherwise. Since the common Chinese people have no other outlet for investment, they have no choice but to keep doubling down on housing. So, the value bubble refuses to burst, because “sunk cost fallacy”, except thanks to massive state censorship and control over information, there’s no reality check to debunk that sunk cost for the masses. Yet.

    The bubble will burst when the people move into their property (investment) only to realize that it’s so shoddily built that by the time they moved in, some decades after they purchased it as an investment/marriage ticket, the building is either unlivable (decrepit) or simply so unsafe to occupy that it might just practically ceases to exist. Entire life’s savings, gone. Just like that.

  78. Looks like the dam has 12 holes and the CCP only has ten fingers. The real trouble will begin when the inevitable looks like it’s about to happen and, like dictatorships throughout history, the CCP attempt to distract the population and unify it by attacking an already lined up ‘common enemy’. That’s us folks.

  79. Old news. Sure, they do have poor quality real estate. However, after building so many thousands of times, they have learned and the newer buildings are much better quality. As you know, China is growing leaps and bound. What you experienced several years ago is not the same as today.

  80. In my part of Canada, housing prices kept shooting wayyy up even during Covid and with loads of factory layoffs. I kept my job, but my salary doesn’t increase anywhere near as much as housing does. The goal just keeps becoming more and more unattainable, and the housing bubble never seems to burst.

  81. it looks like is using more resources in the last five years than most of the world over the last Fifty years but it cant keep going on too long because the limestone powder or whatever it is that goes into Cement wont last forever, then they will be left with huge wasted concrete towns, like ghost that might not be able to take down when we run out of oil.

  82. I can’t wait for the day the Chinese people shake off their oppressors. China is the rising sun. The sun is setting on America and rising in China 🇨🇳

  83. The added value of China’s construction industry was about 934 billion dollars in 2018.and America is 840 billion dollars.
    But how much infrastructure and house ever builded in America in 2018

  84. this is what i mean why i say i hate people who say “i hate the ccp but love the chinese people”. they really do not understand the chinese people at all

  85. Western Colonialism Global Genocide.

    Western Colonialism War Crimes.

    Western Colonial Global Exploitations.

    Western Colonial Global Theft of Resources.

    Western Neocolonial Harbouring Dangerous Fascist Far Right Political Parties, Members and Terrorists Groups.

  86. My chinese ex wanted me to pay for an apartment in china aswell. And as i got around with her friends and our common friends i started poking at prices aswell. And could honest to god not belive the prices in Xian… I did as most foreigner would. Stand my ground and said i wanted to buy a vacation home back in denmark i can rent out on week by week basis. And have first right if i wanted home for a time or lend it out to family and friends for free as a very nice vacation location. And only rent in china because it would be soooo much cheaper. And yet still know being kicked out could be an issue. But man. Those prices are insane.

  87. Complete and utter lack of rule of law, property rights, sense of fairness/equity and this is how they treat their own, all these western companies being strong armed into opening factories, transferring production equipment and knowhow to China … do they really trust the Chinese? Have they not heard of sovereign risk? unbelievably short term thinking, the executives doing this are selling out there countries, investors and should be in jail.

  88. The household registration system is a problem. One doesn’t count as a resident of a city unless one owns a home of any type within that city. Most Chinese want to become legal residents of the biggest, richest cities, because they can get the most benefits from the government, receive higher wages, and–most important to Chinese people, psychologically speaking–gain high social status. Only if the government (the party) completely reforms the systems of household registration and funding of public services, then this obsession will end, and the Chinese people will live with much less stress.

  89. No title of deed, no proper zoning ordinances, no building codes, no building inspectors.
    Little surprise developers build junk. Your buyers buy into the hype.

    Similar thing happens in Brazil when low income home households buy apartments at government sponsored programs. Shoddy build

  90. There is no “sure thing” investment in a communist country with an authoritarian “government” that is willing to confiscate or destroy private property with little to no reimbursement. Look at the towns they flooded last year because their stupid three gorges dam couldn’t handle the rains. What makes you think they’ll honor these leases to the end of their terms? Sure it’s in their economic interest right now, but that could change, and thanks to their Orwellian surveillance apparatus and proven ability to arrest and intern people for whatever reason, they’ll be able to prevent uprisings better than any country in history. Even the North Korean government can’t track every citizen’s movements and conversations simultaneously.

  91. US need to pay 2% housing tax, while there is zero in China …it means american needs to pay a lot for house every year…and the Chinese do not need waste a dime if buying a second house for summer holiday, or buying a 3rd house for winter holiday….lol….US government tax ppl for election complain while the elected politicians do not work for the benefit of working labors. the corporations moves job to China or India, get huge fortune, and give a dime to the poorest of the american

  92. Trump is elated if stock market rolling high while Chinese government is using policy to cool down housing market…china government is not going to tax ppl house to make ppl poor quality while US ppl slept in tents if can not pay off house tax…just think it in this way.

  93. to be honest, if serpentza bought 1 or 2 apartments 10 years ago in shenzheng…he does not need to work hard in Youtube anymore, coz he will be a million-dollar baby..Serpentza just does not have the vision and sense on how to make fortune….lol…..refers to economics and housing, shall listen to experts, not a loser bitching about how bad a country could be to get wealth.

  94. The harder-to-answer question is: how did the CCP cheat death after the Tiananmen Square massacre and how did it manage to get even much stronger? The West ought to answer this question because it has a lot to answer for !!!

  95. I own 2 houses in Shenzheng, 3 houses in Qingdao….and now i m retired at age 45 in Shenzheng for winter time and Qingdao for summer holiday….lol…no house tax on me..mate…

  96. it so funny how many people are commenting with absolutely no real understanding of how china works. all of this and these comments are based on the western perception build and funneled by the media and government!! its just funny that all of these people are talking about what china is doing using their western taught ideas of the way the u.s. does things without understanding that the cultural differences and the economic differences are huge… like how you judge their wages and say its slave labor but at the same time you dont think about how there is zero homelessness in china and in fact they have 90% home ownership?? why does nobody wonder why that is? to expand your knowledge and understanding everyone should do real research and find sources that do not have a direct monetary connection to making you think the way this video promotes!!! you would be better for it and understand what and how you could have a better life!!!

  97. If rent is cheap then just rent and don’t own. Store your wealth into undervalued assets that will grow with time like physical silver, Bitcoin, other solid cryptos. This is an easy problem to get around you just have to explain to your wife to be that owning property is a insanely over valued and will make us poor.

  98. I’m glad I saw your videos on my recommended again. I’m pretty sure I was subbed two years ago, but then I was no unsubbed by youtube??? Anyway now I need to do 2 years worth of catching up

  99. Hey Winston, how about a video titled “What I Learnt About Saving Money While Living In China”, you can share some of those money saving tips you learnt while living there.

  100. bro. not even the tsars living room in tsarskoe selo is 90+ meters squared. U must totally have miscalculated what 90 square meters is. a good HOUSE size is around 120-140 sq meters. (in da west)

  101. 900 years salary to buy small apartment? lol yeah, don’t believe in anything this propaganda channel, funded by banned religious sect/cult tells you, it’s all lies

  102. Come on winston.. Lets be honest and tell your audience that the government is giving the old house/apartment owners a GIGANTIC fortune for them to rellocate. I am PRETTY sure you know this given that you have been in China for more than 10 years…

    Yes sometimes people are forced to leave their old houses and it is no where near a pleasant experience for them but most of the time people are offered millions of RMB to rellocate especially if you live in a 城中村 in central areas of Shenzhen. You have probably heard Shenzhen residents getting given 100 million RMB kind of money in Baishizhou 白石洲 by the government or some big corporates asking them to rellocate.

    Some of the things you said around the police keeping track of your address and other monitoring stuffs that is really unfortunate and I do think the Chinese government is tempted to do all that and I believe you but it seems like in most of your recent videos YOU HAVE NOT SAID A SINGLE GOOD THING ABOUT THE GOVERNMENT.

    Nothing is ever black and white it is always Yin and Yang as you said yourself.

    While I have emphathy on your experience in China and I fully believe the ccp is able to do those stuffs, the ccp has actually done some good things and you know it. My grandparents make 100rmb a month when a TV costs 5000rmb back 50-60 years ago. My parents make 2000RMB when they are young and 20000rmb a month now. A TV has always costed 5000rmb. If I choose to work in Shenzhen I would probably be making 25000-30000 according to my recent job offer at Huawei. By the way I make 25000rmb in New Zealand as a software developer. Yes you could say the median salary in Shenzhen is still just 6000rmb but you must be a fool to not realize how many economically impoverished people in China are now actually Wealthy.

    I currently live in New Zealand and everybody including the kiwis are talking about “investing” in new houses and the housing price in Auckland is just about as crazy as it is in Shenzhen. You get a shitty townhouse in a suburb for a million usd easilly and dont tell me you are blaming on the ccp for this…

    Funny fact is that 20 years ago a graduate software developer makes around 50k nzd and today a graduate software developer still makes 50k ish nzd

    I can always list crazy things happening in the west but that is not the point.

    I am just trying to say that if all your videos are talking bad on China or all your video are talking good on China(like the @Barrets or @火锅大王)there is really reason to believe that you are either substantially biased or you are funded to do so.

  103. They bought out too much of the housing in the city of Wellington & Auckland NZ. They’ve snatched up Melbourne AU, all cities in Canada everywhere in the west and now even Africa. They’ve made it super hard for the locals to buy their own homes and have increased rent prices. Some of that money from Rent goes straight into the Chinese market for the CCP to expand with.
    And then you have millions of people buying cheap goods from alibaba, banggood etc… and name brands like Nike and Apple made by slaves. I can just imagine a world where every race but Chinese would be slaves or second class citizens in 100 years time kind of like the t.v show The Man In The High Castle or the ending of Fringe or The Colony, Except there is no resistance because no one would know what freedom is as the left wing peoples would have voted it out it years ago.

  104. Thank you man! this is EXACTLY what me and my wife were discussing yesterday. We’re astounded how even up here in Northern England (which is arguably less wealthy than the South), the house prices are SOOO much cheaper than in China despite even the local wages being at least 3-4x higher than average salaries in Shanghai. Apart from Shanghai where I lived about 4 years (where BOTH the rent and property prices are astronomical – despite being shitty boxes in the sky – mostly), I remember spending 10 months in Shunde, Foshan paying About 1,500 RMB per month for a one-bedroom flat but the same flat cost about 1,500,000 – 2,000,000 if you wanted to buy it !!! (I couldn’t believe this especially in a place with the average local salary being about 2,000 RMB at the time (this was in 2013-4). Then I moved to Japan – where the prices are so much lower.

  105. Well as I predicted , deleted my comment as I compare his USA tent cities homeless bum slum with China house and he deleted it. Can’t take criticism ? LOL please don’t compare your South Africa or now USA tent cities and housing with any other nation, it’s pathetic. Top 10 majority cities with the most homeless and tent cities ? 5 to 6 is within USA. Still in lock-down with over 500,000 “Covid19 death” locked in a small or rented trash house in NY ? try to gain “popularity” by “anti-Chinese”” videos seeking funding and donations? KAkakakaa loser. Stop paying property taxes and land taxes in your “paradies” US and see who really own your house and land debt slave.

  106. So much I didn’t know. Thank you for another brilliant video.

    The whole thing is like a scary magic show but the magician is telling the audience it isn’t an illusion and there’s no escape from the theatre.
    President Xi Jing Pingu and his chums are getting rich. It’s scary. The economic system they have is a warped form of capitalism. All economic systems based on money are scary circuses with lots of illusions and tricks. I live in the UK, my mother checked her pay, saw the bonus and then saw the taxes were higher than the bonus. The powers-that-be give to the people with one hand and then the powers-that-be cut the people’s pockets and take everything with the other. No matter what system we live under, it’s all dreadful. We need a proper revolution in the world.

  107. It’s happening in the UK as well. There’s a house down the street from where I live, that was bought by a Chinese family and has sat vacant for a long period of time.

    The only difference is rent here would bring in a large income so it makes no sense to me why it is left abandoned.

  108. Maybe if China absorbs enough sand from around the world, they can force someone else into finding an alternative to concrete, then just steal the technology and absorb most of the resources, then rinse & repeat exponentially.

  109. Great video. This is happening in Australia. House prices continuing to rise dramatically for decades. Everyone knows its a guaranteed return on investment. Government doing everything they can to keep house prices rising. All this while wages don’t increase. I don’t see how it can go on for ever but it never stops!

  110. The major problem of China is their refusal to further reform their political system which is going to be their downfall. Yes, they did liberalize the country in the ‘80, but everything is still dependent on CCP.

  111. I know some people in China making $12,000 a year so how can they afford high-rises in China? The answer is you know .0000000000001 people in China.

  112. Where is all the money coming from ….who’s doing all the buying. ….the average wage of citizens can not cover such costs . Even blue collar wages don’t cover costs . You can not get much money from freinds , family if they do not have much money either .

  113. Sounds like sour grapes from homeless Americans living in tents on the sidewalks outside of Chinese owned high rise condos in LA. China’s getting richer as the US getting poorer. How sad is that?

  114. In 2011 -2015 I lived on the lived in Shekou at the Peninsula… it was the premiere prime location at the time… empty and overpriced. I wonder what it is like today?

  115. It’s like predicting the next earthquake. You don’t know exactly when it’ll kick off, it could me months, could be years, but it’ll happen eventually.

  116. Median salary Shenzhen 2021 is 30k rmb a month. So 5 times what you’ve chosen. Starting graduates get about 10-14k and PhD get about 20-25k. Why would you use the mean? It sucks if you’re a garbage man or any blue collar worker, but it’s fine for new graduates. They won’t afford houses though, you’re right there.

  117. I am still having my room rented in SZ. Still enjoying the night life and beer drinking after you Winston. Hopefully the housing bubble will stay intact or else we are going to see another wide spread economic gloom hitting our Chinese friends.

  118. I wish people in this comment section were more active in the comments of the propaganda channels, both ctgn and the youtube shills need more comments talking against them.

  119. Is China a Ponzi? It sure feels that way. It must be hard to swallow for average workers in China who are making a few hundred $$ to watch the enormous wealth accumulated by their elites. After all, China is still (officially) a Communist country where equality should be one of the most important principles.
    CCP needs to keep this party going to deflect the attention from the most important issue: getting rich on the backs of the slaves…

  120. PRC has been doing everything to prevent people getting money from bank then invest it on real property market. for now in china if you have any experiences in stock investment on china’s stock market or hongkong’s market…. whatever,you don’t buy real property any more,cos it will not make money as much as before unless you have a lot of money, you can buy what you want!

  121. The Chinese housing market is a huge PONZI SCHEME. It will fail eventually when the buildings begin to fall. The LAST owner of the apartment will LOSE IT ALL. When that news spreads throughout China, nobody will buy another apartment again.

  122. The part not talked about is the Chinese housing bubble is nation ruining. There are simply too many factors to mention in this comment, but simply put, it’s a long time coming and the CCP have been slowly withering away their escape options in the ensuing collapse and very probable civil war within the next decade.

  123. What history has taught us: whenever it looks like the rules of the universe don’t apply and an exception is at hand, brace yourself for a most spectacular failure.

  124. What’s annoying is the west is relying on China as if it’s a money tree. So the moral and political issues aside if and when these economic bubbles pop, the whole world will suffer!
    This is where Trump was right, we’re relying FAR too much one one country, and a country notorious for corruption, deceit, and manipulation.

    China are likely very aware of their position… they already leverage that position to get away with plenty, genocide, civil rights, international maritime law, all just ignored by the western media and politicians alike so they can carry favour. Also part of that reason why Trump was ganged up on by the media.

  125. I am surprised by the accurate of the figures in your video! Well done! I lived in Shenzhen for 15 years as well and I can confirm their correctness. However, it seems that your video does not answer the question. 🙂 I have travelled in Munich, Germany. Their property price is quite similar to that of Shenzhen but the quality of their apartments are much better.

  126. Hi Winston, Thanks for tis video. I saw your video about China Ghost Cities las year. What is your prediction about Chinese economy long term (10 years)?

  127. “There’s no religion other than greed,” is a prime harbinger of a society’s imminent utter collapse and destruction. Great discussion Winston.

  128. In the US, its not construction, its health care which for now remains reliable stable employment during down times and makes up 20+% of our economy so we (the people and govt) continue to feed it w/ more and more money. The defense/security industry is similar (to a slightly lesser extent) as for the most part its just a govt jobs program.

  129. Someone needs to teach these people the difference between appreciation by inflation versus scarcity. All they see is the number going up and think that’s always a good thing. The US is currently suffering this delusion, I hope we can get it contained soon.

  130. you making to much English propaganda…they should silence your mouth, you are a foreigner and ndont understand the real CHINESE essence of life, you shut up! you come from an Island, China is not an Island

  131. Herd mentality may be bigger in China than in the West, but it’s definitely a driving factor of most market cycles, in China and everywhere else

  132. Not a bad opinion from a guy who replied when I previously commented that my reply wasn’t relevant or something, =China is full of programmed and socially conditioned meat-robots as I originally stated, you’re correct in that the poor buggers are being played as fools by the even bigger fools manipulating them obviously, the CCP.
    It’s a (their) cultural? superstitious thing….minus their core belief in anything beyond the end of their chairman’s nose likewise.

  133. Please can you guys lift the topic on what is going on in China with the big boycott against H&M.
    What I know is that H&M was worried that some of the clothes that was produced is made from cotton, where there have been Xinjiang cotton pickers that would been enslaved and from camps in Xinjiang involved. So H&M stared to question the Chinese Government but what happened is that H&M has been attacked from all fronts. Chinese Government is closing H&M stores, Huawei has taken away the H&M app in the Huawei app store. And Alibaba and taobao have stopped selling clothes from H&M. And on social media they are making fun of the H&M logotype etc.
    Not only that IKEA has also discovered that their solar panels might be made by enslaved citizen from Xinjiang, this would probably mean that they will be treated the same way as H&M do to the strong policy that Scandinavian companies have on human rights. Please will you take up this topic in a future video? Please 🙏🙏🙏🙏

  134. The CCP are facing a very tuff gig, on the western side they are trying to stop the Islamic world from infiltrating and eventually imposing their diabolical Sharia ideology as opposed to their own version via Communism, both unfortunately are the same old junkyard mutt full of fleas hell driven on domination as their end intention, it’s never been a smart idea to ban or even attempt to prevent the right of the individual’s right to self determine etc….very dumb move obviously.

  135. Not just China, there are alot of people who just dream that they could make profit out of just luck and think that they could outsmart others. MIL started investing in the US stock market around the beginning/mid covid period b/c many around her was doing the same and made a profit. don’t know exactly how much she invested, but i recall stock market investments came up during thanksgiving dinner and some times she drops in our home listening to the latest stock market news. everyone in the family warned her b/c we didn’t feel that she could handle the pressure of losing money and she was the type that constantly checked how her portfolio was doing. ended up that she lost her investment, not sure how much but she recently developed insomnia. she’s always had it but we think her lost just exasperated it. i felt like i was watching a entire tv drama came to life b/c this type of stories i had only seen on tv.

  136. The only solution is to drag both idiots into my office and I’ll explain to both in no uncertain terms why both their idea’s are lame.

  137. Housing cost in Hong Kong is ten times than those in Shenzhen. Even the buildings built 50 years ago in the old part of Hong Kong is still cost a fortune. Shenzhen is right by Hong Kong, thus mainly affected by the fact that it’s so close to Hong Kong.

  138. I spent a lot of time in China over the last few years. The big cities are expensive mostly. If you get out and away from those centers, then the costs drop quite a lot. Yet, the crazy investments the Chinese have done, speculation on real estate boom. Many Chinese own 3-5 “homes”, all speculation. The collapse in real estate since 2015 is felt by the speculators. A real crisis in China; real estate.

  139. I love these vids breaking down chinese economy and culture on a macro scale! keep em coming

    Didnt get a notification for your vid, but i got one for Laowhy86 and i know if hes got one out you usually do so i came over here to check. Its a good idea for you guys to share an audience. Also if you ever do a tour in the US stopping by a couple spots you give people in advance to meet up with yall on one of your travel adventures would be a cool way to build hype

  140. Biden having a dig at China Think about it my opinion things are not as the seem in The Middle Kingdom to take your population mind off things you find an Enemy rattle a sword North Korea have a firework display get some concessions and aid always works

  141. China has achieved amazing progress but their achilles heel is demographics. China is aging and will decline. Who will buy the excess homes?

  142. First of all, someone earning the average or below average income in Canada can’t afford buying a house, same situation in California as well. Of course someone making 1,200 per month in Shenzhen, perhaps equivalent to someone making 2,000 here in Canada isn’t nearly enough.

  143. The average income in Shenzhen is 29,000 CNY which is 4,433 USD per month. Shenzhen is a first world city but.

    Now check housing prices across the US (except places with no jobs) it’s the same exact situation. 60% of Americans are making less than 35,000 a year, and somewhere around 40% don’t have money for an emergency.

  144. Why do you wish bad things to happen to other people, you wish they are starving so when they come to your country to work, you look down upon them and call them immigrants go back home.. leave the world alone. hypocrites.

  145. Its not just China its the whole global System. China is just the most extreme and worst form of capitalism. If China bursts its taking down everything.

  146. Who exactly buys the appartments years after they have been built…and why? If they are crumbling down, and you don’t get the land that the building is on…then that investment shouldn’t be worth more than it was when it was new.

  147. Several years ago I was in Wuhan and paid a visit to the provincial art museum and there were already big cracks on the interior walls of the building which was only a few years old at that point.

  148. Any speculative market will end badly. There has never been any speculative mania that ended well. But there is nothing wrong with speculation per se as long as you can get out before it all implodes.

  149. Any reason why precious metals aren’t a thing in China? You would think that with the economic craziness, people would be snatching up gold like crazy.

  150. Chinese are buying up properties all over the world at an alarming rate. They are buying thousands of acres of farmland in the Canadian prairies as well as houses all over Canada. Many of the houses they buy are left vacant and just used as safety deposit boxes and for money laundering.

  151. Interesting video. When I moved to Wuhan many years ago, I noticed many empty apartment buildings (i.e. no lights on ever). When I left 5 years later the same buildings were always black at night. I worked for a large building materials company and when we were defining our strategy for the future, we found out that the average lifespan of a Chinese building was only 20 years, then they would be torn down. A colleague of mine bought an apartment and I aske him what happens in X years when the building is torn down, as it can’t last forever. He told me that the government would take care of him and his family and the government would build another building. I also read a few times that there are enough empty apartments to house the entire population of Germany and France. I have been waiting for a housing crash in China since 2005, but it hasn’t happened yet and they seem to continue on. On a final note, a Swiss friend of mine called these apartment buildings “people silos”. Your videos are great and very insightful.

  152. It still amazes me how this guy constantly belittles China just to get more clicks. Unlike someone who could look at how China real estate functions with logic and not with personal views. Apparently you’re not too aware of the 2008 real estate market in the United States which caused a crash and brought many countries down with it.

  153. I don’t really get how they earn money with it. Person A buys a new apartment, sells it with profit a few years later to person B, that sells it a few years later with profit to C, that sees the building crumble down? … so, at the end, someone will lose money with that logic?

  154. I don’t understand. You say that the average salary for blue-collar workers in Shenzhen is $1,000 a month. Most likely less for all of China. Yet–if you look at luxury car automakers like Tesla and Cadillac, China is their LARGEST market. Let me reiterate. These are expensive cars. Who are they selling them to in China? Cadillac sells far more cars in China than they do in the United States. Are they selling these $70k luxury automobiles to these aforementioned “blue-collar” workers making sub-$1k/month? Just how big is the rich Chinese class, quantity-wise? There’s no way it’s a tiny percentage of the population if luxury firms like Apple and Tesla are selling so many units…

  155. In New Zealand people are gambling not on multiple houses but on single houses – why buy a house with 1 bathroom when ‘for a little extra’ you can get 2? Why buy a house with 2 bedrooms when ‘for a little more’ you can get 3,4 or 5? 1 garage- No, 2, 3, or even 4. So a $3-400k investment turns into a $6,7,800k ‘investment’ – which you need to service the mortgage on. Why?- Supply and demand. NZ population is force grown by ~100 000 per year – flattening wages and driving house prices through the roof. The Jacinda Ardern (look up the comrade video) government is paying -via tax payers – motels and hotels to house homeless people. That is why our tourist industry isn’t destroyed, because the motels are filled with homeless people, propped up by taxes…

  156. You Know Why Chinese r so fond of apartments ?The Chinese government ties the education rights with 70-year apartment if you didn’t buy an apartment your children won’t be accepted by the better public school, then ave to go to the private school, and which is worse, children without Hukou of the city have to go back to their hometown to earn education and that is why there r so many left-behind children separating with their parents in the country.

  157. In light of the words of former Assistant Secretary of Commerce, Nazak Nikakhtar, that all mainland Chinese companies may have secret links with the Chinese military, because such links are not documented, the facts discussed in the USA Today opinion “Could an accident have caused COVID-19? Why the Wuhan lab-leak theory shouldn’t be dismissed,” and former, CDC director Dr. Robert Redfield’s opinion that it did originate in a Wuhan lab according to Forbes Magazine, I urge that it is time to severely sanction the Chinese Communist Party in a more than just symbolic, ineffectual way. Just sanctioning officials will never change the course of the CCP toward WW III.

    Their outrageous attempts to sanction EU officials and boycott responsible companies that seek to avoid purchasing the products of the CCP’s enslaved peoples, like the Uighurs, should serve as the final straw. Their many attempts to destroy evidence, remove Wuhan databases, (only partially successful) orders for the destruction of virus data, and effective silencing of whistleblowers show such a guilty mind that most juries would find them guilty of at least negligent manslaughter because by not closing international borders after knowledge of the infectiousness and deadliness of this virus (which they probably leaked), they proximately caused the deaths of millions.

    Read about Canadian scientists kicked out of Canada’s laboratory handling the deadliest of germs for secretly sending viruses to Wuhan in CBC Canada’s “Chinese researcher escorted from infectious disease lab amid RCMP investigation.” What bioweapon will be “leaked” next, if the CCP decided to invade Taiwan or South Korea or Japan or later, the Philippines, for example?

    The blood of hundreds of thousands of dead, innocent Americans and foreign citizens calls out for justice. If any in government ignore that righteous call, eventually, history will justly condemn them. Most congresspersons will pass laws that are couched as “to meet the CCP threat.”

    Please write your congresspersons and President Biden to order US companies to change all of their suppliers to suppliers not connected in any way with mainland China and all investors to withdraw their investments out of communist China; both within a year, with tax benefits to those which relocate them to the US. I think that the US Congress would pass laws to provide for such benefits. Those tax benefits could also be paid for by raising tariffs on high technology imports from China even more.

    The CCP’s oppressed, mainland China, with its rapidly-arming PLA, is an existential threat to democracy and all Americans. Wise leaders will realize that proposals being to make America strong again to meet the threat of the Chinese Communist Party MUST be passed. If Republicans filibuster such laws, they will be guilty of treason by weakening the USA in the face of a rising, threatening enemy, instead of passing laws, which would prepare the USA to meet this oncoming, CCP threat.

    Naturally, they have to establish some licensing and exception procedure, to be sure that they do not just drive dozens of US or EU companies out of business by forcing them to cease business with mainland China too quickly while they cannot yet actually relocate to alternate suppliers. However, if they do this, the benefits of the latest and future US stimulus payments may flow to the USA, the EU, allied, and truly non-aligned countries, instead of to fuel the growth of communist China and its threatening PLA.

    (Do not discriminate against Asians, because most are just the victims or will soon be the victims of the CCP. Even mainland Chinese are merely suffering from Stockholm syndrome, because the CCP carefully censors the truth from them.)

  158. The biggest problem is that low interest rates has fueled the housing and stock market to astronomical heights. It is not just happening in China but all over the world. Greed will blind so many people and nothing goes straight up. When the housing market crash in China it be devastating because everyone has their eggs in one basket.

  159. Because, the country is overflowing in USD. The country earns more money then it pays for goods in import / export. The money legitimately has nowhere to go. Thus, where a lot of that money ends up is in property investment. What else are you going to do with the money? This puts upwards pressure on land values or property value. It also is invested overseas, and it doesn’t matter if it’s a good or bad investment, because the money has nowhere to go.

    China is a USD sinkhole, and the US prints a lot of money, and this currency has for a very long time been headed to China. A lot of the worlds commodities are traded in USD and China dominates a lot of this trade.

    You think this is going to end? As long as there is a trade deficit with the US and other countries, this issue will just continue, in fact, it’s driving a large middle class in China, and eventually the entire country will be lifted by this alone. The housing market is merely the best way for the government to control the problem. Everyone needs to live somewhere, and this is another method of control. What else are you going to do? Sell up? Everyone is stuck in the market, and it won’t stop.

    The US going completely bankrupt and the currency devaluing completely and being abandoned around the world, is the only way this stops. In which China will just find another way to keep things locked up, it could just nationalise property markets.

  160. Young wagie: Can’t wait to get a loan to buy this house-
    Chinese property sharks: MINE-
    Young wagie: Okay, maybe this apartment over here?
    Chinese property sharks: I BOUGHT THE WHOLE BLOCK, SUCKA

  161. Polymatter covered this in the most recent video. Basically the Chinese citizens are playing Monopoly in real life thanks to the lack of social security programs. Until social security forms the bedrock of their retirement savings or financials, property will always be sought after. Financial literacy is a huge issue in China and everywhere. Unlike Monopoly where you collect rent, they bought property to “squat”.

  162. That’s one of the reasons the population won’t go back up, so many young people can’t see owning a house in their lifetime!!!!!
    And for the femele to find the male somehow attractive, they need to own a house and cars!!!!

  163. Great work, as usual. You’re one of the very few utterly reliable sources of truthful information on China. Thank God you’ve survived to tell us everything you can. The mystery for me is where people get the hundreds of thousands of dollars to pay for such awful, rubbishy dwellings? There must be an extremely rich 10% of the population that has the dough to support the market. The middle class must be very small, and the lowest class huge.
    It has to end badly, because you’re not buying permanence; just a 70 year debt trap. In the later decades, the bottom will inevitably fall out of the market. China must collapse totally in the near future, considering all the scams, frauds, and fundamental lies at its core. No wonder they’re paranoid!
    In New York, London, Paris, Berlin, Rome, Zurich, Madrid, Prague, or Stockholm, when you buy property, it’s yours beyond generations.

  164. Love your videos, love your presentations, but still doesn’t explain why doesn’t busted.
    Explain very well what’s wrong with but not why it continues on.
    I expected this to bust 15 years ago.

  165. I guess everything is cheaply built including their homes, man… lives and safety means nothing to them, imagine they rule the world? No earth in 10 years

  166. Some of your stuff make sense (quality of apartments etc.) but I don’t agree with most of your points. The lack of actual valid evidence even makes me wonder whether the purpose of your video is to present an objective finding or your are simply taking advantage of the anti-China sentiment for more views.

    Look, housing is expensive, but mostly in some of the capital cities like Beijing Shanghai and Shenzhen. But seriously if you move out of those places your life will be way easier. Take my home city, Xi’an which is a typical tier 2 city for example, you could still make 12,000 USD a year on average, but the housing price is around 2,000 USD per sqm. Not entirely exciting but way better than what you claimed at 1:36.

    Also, please show evidence where government actually not compensate enough when acquiring land. I acknowledge the conflict between government and people but please look into a larger social and historical context. What I personally experience is, depending on the actual policy, the least of compensation would be the same value of your apartment at market price, but most of the times it multiplies depending on the value or number of family members under your Hukou.

    I understand it if you don’t like China for any reasons, but please be reasonable. This gives me a feeling that you haven’t even made an effort to learn about the place while you were staying there, instead you simply used every single trace of negativity you experience to fit into your presumption.

  167. Holy crap: why you do not mention cheap apartments in some cities? 2-bed apartments sell as low as 30k -40k RMB. There are plenty of them. One year’income can buy 2 or 3 apartments easily. You only mention extreme cases when you talk about China. Very misleading!

  168. mortgages vastly exceeding rents are usually an indicator of a real estate bubble. You could see this in Las Vegas back in 07 and its happening again in NYC today.

  169. so ..technically… the blue collar workers are renting and own nothing, and the speculators own everything and are happy ? Overall the population (vast majority renters) owns nothing and is happy ?
    Right ?

  170. Leased property effect will not be seen at least until significant property are near their leases. People forget that China property market is really young – started in 1998. The oldest property is only 22 years old. Chances are they are not that many property rebuilt/leases renewed. Once the lease get to 35 or more year old and people start to ask about renewal of leases/bought out by the govt for rebuilding, once there is a benchmark, then the entire ponzi scheme will fall apart unless the govt just renew those leases with little cost.

  171. I know you are bitter about the CCP and that you need to criticize full scale to get views but that stance kind of force you into lying even more than them. I don’t think fighting propaganda with such counter-propaganda is doing any good, it just makes people not believing anything at all anymore and feeding a culture of distrust and ignorance.
    This culture growing in western countries is weakening our societies so much more than any “CCP propaganda” and you are participing into this, for views, bitterness or both?

    Yes there is a housing bubble in China and yes it will end badly…but mostly because of demographics and just like in most countries.

    Things you are not honest with imo :
    – Shenzhen is like the worst real estate bubble in all China but you only talking specifically about that one
    – There are no taxes on it! So chineses use real estate as an “investment” AND a “store of value”. Not so stupid compared to gold or bitcoin…why not as long as there are no taxes?
    – “Rural exode” is still on, there is a huge demand on real estate and some cities are still growning crazy fast
    – Men need to buy real estate to get married and there definitely is a “shortage” of women. So, it is not like the only motive is speculating on price and it is really in the culture now.
    – LOT of farmers got rich by getting bought land from the gouvernement, it is full scale unhonest to only talk about the “ripped off” when you compare at how it happened and is still happening in most western countries.
    If you visit some places, it is unreal how it is full of crazy rich ineducated farmers, local gouvernments totally could have scammed them but payed them a fair price instead. It is not representative but people i know were very happy to get their land bought that way, it was more like “jackpot” than a “ripoff”. As a result, they are wasting the fortune they got in obvious scams and luxuries they don’t have any use for.

  172. Other commenters have pointed out- it was a real problem with the spillover into Australia with Chinese investors buying namely land (usually in the form of farms to assist the supply chain back to the mainland) as well as houses. There are so many ghost properties that were bought 5 or more years ago (obviously bought as long-term investments by overseas buyers) that it’s ridiculous. The Australian government started to make steps towards limiting the amount foreigners could invest in real estate, but quite frankly, the damage has been done. The greed of Australia looking for a quick jab in the arm from the property market has crippled us in the long run.

  173. I’m sure fraud in China is no worse than the rest of the Western World. It just there are so many people that the impact is so great. Nothing is ever built on fundamentals it’s similar to the western Keynesian system where those in power I.e. CCP will get rich and the vast majority will be stay poor.

  174. It’s a shame the rural Chinese people don’t have tools to defend themselves from government Land Grabs. I wonder what kind of tool would do the trick?

  175. you’re like the pastor of a religion called bitterness, preaching to his like minded choir that sing his praises, but converts and accomplishes nothing.

  176. I wouldn’t pay much attention to how much people allegedly earn and whether they can cover the mortgage costs. Everyone cheats on income tax. It’s a national sport. Chinese are far richer than the official statistics suggest.

  177. Buying a house is something you kind of HAVE to do whether you want to or not. It is built into the customs, like getting married the man is expected to buy a house and car for the wife and I think you need to own a home for your child to have certain privileges and go to school (even if you dont live in it). It is also common to buy your wife’s parents a house at some point (if they dont live with you).

  178. Now this is the quality video content I have been missing from your channel. THANK YOU SERPENTZA! 😁👏👍
    Great video and looking forward to any additional education on China and the inner workings of its government, economy, culture, news, etc.

  179. What you said is so true. I have relatives in Guangzhou and I had an inheritance of two apartment units. I sold them and learned that people used other people’s names to own these apartments because the government only allows city citizens to own two property. I am so amazed the high price of the apartment compared to their income. The people I know told me that if without their family and relatives’ help, they could never afford any unit. Many of them do not even know that they do not really own the place. It is a 70 year lease on the building. Some of my relatives sold the property in China and became instant millionaire here in U.S. However, to get the money out is another story. I am still trying to get the money out. It has been 10 years.

  180. You know it’s funny. People stated the same thing about the US housing market until it literally exploded. Now it’s getting worse again. That’s why humanity won’t survive. We don’t learn from our mistakes.

  181. I’ve lived in China since 2011 and every year people say there will be a crash and guess what? It never happens. The government has lots of flexibility when it comes to housing.

  182. I’m a foreigner living in China and I can confirm this. Maybe the worst thing about apartment buildings is that nobody seems to care what they look like. Tiles fall of the walls in the hallways and they are never replaced. Same with massive pieces of plaster that fall off the walls. The painted walls are absolutely filthy. Elevators look terrible. Nobody cares at all.

  183. It makes sense that property tax is equivalent to a yearly lease from the government for right to use the land. Nobody really owns anything, government owns everything.

  184. Because china is not a free market economy, its housing price can stay at whatever level the government wants. You guys are making your judgement based on western free market experiences , which does not apply to China.

  185. Your statistics belie the fact that the cost of living in China is far less than that of the USA and in European countries. But let’s forget about all that. We want America to do well, but these kinds of broadcasts only hurt America’s reputation as she experiences the throes of decline, simply because America no longer seeks the good of other nations. It’s a hard truth to swallow.

  186. That is a shame about the empty apartment complexes which form a city and people investing in them and letting the buildings sit empty as the complexes falls apart. I remember one video where you all went to one new city which was empty and the plaster falling apart. That was so sad and the people are being ripped off by the government and realtors.

  187. Serpentza, how are you, thank you, I’ve received the respond of you to my comment, a nd replied it today 29March21.Unforgunatelly have lost it, I hope you remember me and help me to follow it. Many thanks, stay awesome! 👍

  188. I was expecting a video from you about recent controversy between China and Western world.

    Do you think China place very little value of Human rights even to their own citizens?

  189. I was born and raised on the East Coast and now do real estate in China and Japan. I speak both tounges and can tell you the entire market is based on the moguls making money. Thank God I am in with the money makers and just know that in 10-25 years this is all going to crumble.

  190. what happens if the lease on the land is up? what will happen if there is only 20-10 left on the land lease? will it sell for the price that would make up for the loan?

  191. I as a civil engineer will say this
    Residential houses are not supposed to last more than 40-50 years.
    Also House is always a consumable anywhere in the world BUT the land that house sits on is an investment.
    Normally people do not see much of a difference.

  192. As a Chinese who live in Shanghai, I can’t agree with you anymore. I will say the biggest problem is Chinese are getting used to follow majority blindnessly. But situation will be improved in the new generation since they grow up in diverse culture impact and different life target thingking.

  193. Thanks Winston! So the West shouldn’t worry very much than about the Chinese. The West should sitting down and wait, China will collapse soon. Passion is what you need.

  194. This is because you are in the low level as English teacher , as I grew in Shenzhen , many family of my friend can buy their house by 30% own money , 70% by bank.

  195. there is got to be some thing missing here… the math doesn’t check out. how can almost everyone has 2 houses and need to borrow from family to afford the mortgage and the 900 years of salary?

  196. I hate how anti China your videos have become. Used to watch you all the time. I hate to say it though but this video is 100% correct. The utter greed of Chinese culture is detrimental and disgusting. It’s all people care about and it is absolutely WORSHIPPED. People will do almost anything short of selling their children for money. It’s gross.

    I have relatives who brag about their concrete boxes, on their third one or whatever. They do not earn a lot of money. It’s just stupid and ridiculous. I have more money than they do but I don’t brag to them ever. It’s a stupid aspect of modern Chinese culture. Reminds me of the upper class people from India as well.

  197. I recall the Japanese Bubble that burst… Some people were savvy. I know one person who bought a hotel with a golf practice range. Now, he wasn’t completely heartless… He dedicated a couple of the floors to a nursing home for the elderly. He rents out the ballrooms and meeting rooms for whomever wants them. The golf range is still used. And the suites are for the ultra rich.

    Why does he have a couple levels dedicated to nursing homes? Is it for tax reductions? Yup! Hell yup! And duh!!! Of course!!!!!!!

  198. Winston, O Winston. Please do not become like the miscreants who have 95% bad things to say about China, and only 5% good to say about the country and people. China is far better than what you purport it to be. We expect more balance from you.

  199. Cruel, soul-less, voracious, shark-fin eating machines. The rest of the world keeps feeding their economy as new disposable buildings are erected and new bicycles, fresh out of the factory, are discarded in land-fills to prevent lowering the market value. A sinful, wasteful, objectively unsustainable reality indeed.

  200. Why China’s Crazy Housing Bubble REFUSES TO BURST! Because the government can take over housing market and it will not fall until the government break up.

  201. while we’re on the subject, you’ve mentioned a number of times that Chinese people are good at saving money. any chance there is a video planned on this? I think it would be very interesting. cheers!

  202. Their quest for apartments are like their quest for land. Annexing lands from India, entire Tibet, claiming oceans, their 9 dash stupid line in the middle of south China sea. The more time it takes for this God forsaken country to crumble under its own weight, the more harmful it is for peace in in world.

  203. “They will buy”. But who are the buyers? Normal people buy cheap and wait a couple of years and sell expensive. By that time, the apartment is already a couple of years old, so why would anyone buy it if they can buy new apartments in another area? Is the government buying them?

  204. Louis Rossmann has several videos on YT about a similar phenomenon going on in NYC right now. During a pandemic when all these properties are shut by government decree and people can’t do business you’d think real-estate prices would be crashing but they aren’t, they are actually rising. He theorizes a lot of it is money laundering because the property owners simply don’t care that their properties sit unused and not collecting rent, in fact it would seem many of them prefer it that way.

  205. When You’re Accustomed to Privilege, Equality Feels Like Oppression’. Author unknown. Feeling a little oppressed, do you? Nothing sadder than a privileged white man who can’t even make it in 3d world country like China. Hahahah……

  206. I can somehow understand why people wants to buy these appartments when they are new if they think they can make money by reselling them later.
    But who th F*** wants to buy these appartments after a few years when they are deteriorated and totally falling apart??? Like people buy these “old” appartments without even visiting them or what???

  207. Wow, I guess everything in China isn’t built to last, the products they make for domestic consumption are terrible also? I’m guessing this also applies to their armed forces, quantity not quality springs to mind! Easily beaten if it comes to it!

  208. Besides all the greed there still is a cultural component which is introduced and amplified by the chinese government:
    In China there are more men then women due to their one child policy in the past. The women are being told, right from elementary school on, that owning an appartment means security. So for the men that means to get an appartment, whatever it may cost, in order to find a woman.

  209. Great video as always! But the math does not add up. Let’s say one person makes 1500$/month and have to pay 3000$/month for mortgage and 500$ goes to eating etc living. It would require three person to pay one mortgage, and six working person to pay two mortgages. It would mean that roughly 15% of the working population could own two apartments and all the rest 85% of people would just to work for paying their friends and relatives mortgages. Either some entity must be feeding free money to the system, that then is used for the loan payments. Or then is actually very rare that people own two apartments, and that would mean that most of the apartments are own by very rich but very small fraction of the population.

  210. The housing market in China will burst when there are not enough children. Right now there is a major fertility issue in China similar to Europe.

  211. China economy booms last November? What would of possibly happened around that time?? And people call me crazy when I say Biden works for the ccp

  212. Similar to California, except they are not building, since that would eventually depress the real estate value of existing housing, so the prices just keep going up and up. When they are building, the red tape helps insure the prices stay high. Glad I don’t live there.

  213. When you have millions of people moving form the countryside to the big cities, and wealth growing at substantial rate year after year, you can hardly call rising house prices a bubble….notably b/c the demand is not being driven by foreign demand, but sheerly by locals.

  214. Could you do a video on crypto in China? I’m curious if that will gain popularity and draw away capital from traditional stores of value like housing and gold. Seems to be doing that a bit with gold recently.

  215. Please correct me if I’m wrong I’m chinese myself born in uk and I think the newer generation might be a lot better than the older ones. I feel myself that the adults in China not all but some is not the best

  216. I can see this guy making videos about China in 20 years time, even though he’s left there many years ago 😂 just ends up like he’s bitter…

  217. lol, God warned against avarice, but the world pushed God away and chose dung over him. Remember, all this stuff on Earth, WILL not last…. we will die, like many others did before us. Will you choose Heaven, or hell?

  218. Dude, You are smart like Esculap snake. The romans worship that small super poisonous snake. We have its logo on pharmacies/drugstores. It is that snake curling around a glass. Well, i hope your beautiful wife is ok. Your daughter too. Bye.

  219. So the Chinese communist propaganda we get is fake news? Just interject “United States” for China and I couldn’t tell the difference in this video

  220. Serpentza, you complain way too much, that’s probably why China kicked you out. Why don’t you stop complaining, apologize to the CCP, confess your crimes and go back to living a normal life.

  221. It does not cost $800,000 to build a 1,000sq.ft apartment.
    So, the question is: where does that money go? The vast majority of it must be profit. Who does it go to?
    Who is actually getting rich from the building of these things?

  222. The quantum needs to be high for banks to earn in loans.. it’s a cash cow.. agents will benefit too… maximum profit occurs when the bubble is at its biggest just before bursting.. Govt and bankers seems to be getting better at keeping the situation contained… problems won’t be solved unless it burst

  223. You don’t have the time or money to build it right, but you DO have the time and money to build it two or three times.
    That is simply nuts. So glad I am not in China. It’s going to hell.

  224. I see the same pattern all over the world. What is weird is that governments and monetary masters somehow manage to keep the bubble from burst and even are overinflating it.

  225. Oooooh nearly at a million Winston ! Be there in no time, any celebratory ideas ? Subs I mean, if it wasn’t clear , all your guys associated channels should have surpassed that by now but ha ho

  226. Not just in China this ponzi scheme is global. Just another symptom of systemic corruption creating vehicles of wealth transfer and social control.

  227. Chinas indoctrination has completely failed to educate them how reality works, and because of this they always make gambling investments, and it always ends in tragedy eventually. Chinas only way out of this garbage is complete governmental, bank, schooling and currency collapse. It need sto collapse their ability to censor information

  228. It might be a stupid question but can’t the chinese just invest in foreign stocks? Some well diversified mutual funds like the S&P500?
    Is there a government mechanism preventing them from that?

  229. Hi Mr Serpentza, at the beginning of the coronavirus pandemic, you and CMilk supported the idea of “China virus”. Now Asian Americans(including Chinese Americans) are suffering hate attacks in this country. Would you condemn violence for those innocent people? Would you do something to help to protect innocent Asian people (including your family)?

  230. Ehm, I do not think you understand the wage/salary situation in China nowadays. A delivery worker in a first tier city can earn somewhere aroung 6000-10000 rmb per month. That is working everyday 0700-2200. Office salaries around 8000rmb were what my friends in their late 20s earned in offices in Shanghai back in 2011. These salaries are of course much higher today. A decent and pretty ordinary office salary nowadays in a first tier city is probably around 20,000 per month. Then again, there are huge differences when it comes to position, company, work place, location and so forth. In a second tier city in the middle of China, I know office ladies who earn around 20,000 rmb per month at good companies while a lady in her late tweenties I know only earns around 7500 rmb per month as a lawyer. But again. In China, the spread when it comes to salaries are huge. It is hard to pinpoint what a certain profession earns. Sales staff at some ordinary shop can earn like 3000 rmb per month in a second tier city while sales staff (good looking girls) at another type of business (whole-sale business with sales provision) can earn up to 10,000 rmb per month in the same city. It is very hard to say what someone earns in China as there are so vast differences when it comes to salaries. That is like what defines a class society. China is not a communist or socialist country where everyone earns the same salaries.

  231. The average salary in Shenzhen in 2021 is 10,000rmb + per month. Easily half of workers earn more than that. In terms of cost of living, 10k RMB a month in Shenzhen is equivalent to earning around $4,000 in San Francisco. EG, a low paid US big city workers salary. So, not great, but comparable (if somewhat worse than) many US cities. 7,000 RMB a “good” wage in Shenzhen in 2021? Your figures are a decade out of date. A good wage in Shenzhen is at least double that, arguably triple. In China things move fast. 5-10 year old data is woefully inaccurate.

  232. Stupid video, you know nothing about Chinese housing market the worse you know nothing about the American housing market. In China most people buy their house with 70%+ down pay bank only loan you 25-30% that is why there is less risk of bubble there and in the US you only pay 10-25% in some place you pay don’t even need to pay down pay.

  233. You worked so hard on this video and it is not nice that I just turn off the page without leaving you anything. How about a thumbs-down? Hope you like it.

  234. very interesting perspective, I’m curious if you had bought any real estate while you were in Shenzhen.. I was there 15 years ago and almost bought but was scared off by the requirements of the lending bank to take up the entire mortgage amount before delivery of the condo when the condo was only half-built. Theoretically, I would have made 20X the return by now, not sure if I should be kicking myself, did tried but couldn’t see how I can kick my own butt with any of my feet.

  235. I think there is an element of anti Chinese bias about this video. Genuine demand for these apartments will materialize when the US dollar goes into hyperinflation and China`s economy restructures from a mainly export driven economy to an economy based largely on domestic manufacture and consumption. Exports will continue but not so much to first world countries but to second and third world countries.

  236. I don’t buy into this labour creation argument. People don’t do job to do job. They do that to get paid. And you can only get paid if someone else sees your job as something valuable.

    Imagine a guy working his ass of digging a hole and then filling it, rinse repeat. He’s working his as off but his work doesn’t add some new goods or y to the market. Now imagine two guys. One builds a house and then sells it, the second one builds a house, then demolish a house, then build a house again and then sell it. Who’s added more value, who’s work was more valuable? It’s basically a bullshit market niche created by government regulations, that disallowed people from really owning the stuff.

    This kind of work organisation doesn’t add up to the economy. You”ve said that Chinese save 40% of their salary. That’s why this is possible, they can afford having large portion of their work to burn this way. Sad. But thanks to that they haven’t eaten us economically yet. Imagine what would happen if all that money went into something productive.

  237. Chinese have no compassion for eachother, that is a very unpleasant trait for a human being. I would never go to this country, colourful or not.

  238. I’m afraid I’d be living in a death trap, the way you describe the construction quality. Wasn’t there a shopping mall that collapsed some time back? I did consider visiting Shenzhen a few years ago.

  239. Wait, a million us dollars to buy a one room apartment in china? And then it comes crumbling down? And all other investments are even worse? And the west buys into the Chinese stock market? And the Chinese business men are the only ones who can buy 100 appartments in one go from the Irish state? Seems we do not want our wealth.

  240. wtf is going on with YT? says this was uploaded 22 min. ago, but I watched it the other day, even the date doesn’t jive with what YT is “telling” me today.

  241. Wow! When I was an undergrad in the 80s, I wrote a short sci-fi story about a future dystopian society where the economy and jobs were almost entirely driven by just such an endless cycle of build-demolish-build; but it was based on extrapolating a future US economy, not Chinese. lol.

  242. serpentza must be mad and so sad cause he lives there for so long and did not buy much real estate and have to post youtube and bad mouth china for a living

  243. How can people in the US, CA pay for a home for 900k? Making 30k net income after deductions. The expense food , gas, bills, etc. They are left with maybe 12k a year.
    A two person Chinese household which will earn them 24k. They maybe able to pay off..

  244. Seems like China isn’t that good a place to live for the middle class. Compared to the past it is but I wonder how long the new Mao can hold it together? Or is it simply turning in a prosperous North Korea?

  245. 99% of the chinese in my country hate the CCP. In the past, our China town used to be the richest and crowdest place to visit. During Sino-Viet war, my government had created many new rules in order to limit the chinese power inside the country. They limited the businesses and jobs that chinese can own or work. Send lots of Chinese back to China and the rest choose to change their passport to vietnamese. Nowadays, the biggest local brand shoes, bakery and learning tools are owned by Chinese Vietnamese. Luckily none of our dollar billionares chinese. Real estate in my country is a problem too, the average wages of vietnamese in big cities are about $400/1 month. But the apartment price are about $88,000 for 1 bed room and it is not in a really good location. If you want a good location you need to pay more than $200,000. The real estate price will just go up up, even during lock down it still high af

  246. When you described the economic engine and got to the part about people not wanting to inherit someone else’s bad luck and would tear everything down, it sounds like someone suckered a bunch of people into a shity deal to avoid having to do any real work to make a livable home and that has now become the norm.

  247. We saw how the 2008 American Housing bubble crashed the global economy, I don’t want to think about what it will look like when China’s bursts.

  248. In Canada there are thousands and thousands of empty apartments and houses, owned in China. Never lived in, never rented and always empty. The Chinese have no problem over paying for houses by hundreds of thousands just to out bid any other possible buyer. It’s the dumbest thing I’ve ever seen. They never maintain the properties, they never clean the houses, mow the lawn, fix the fence, nothing. There are over grown $5,000,000 houses all over. These $5,000,000 house are 2,500 square foot houses from the 80’s. Just insane. The drug money laundered here is in the hundreds of billions and it’s mostly fentanyl from China.

  249. China has so many ghost cities still not much homeless like in his (serpent-nazi) dirty filthy US tent cities and where he originated from (South Africa). I think China should donate those ghost cities to USA filthy homeless tent cities bums in their major cities and try and build toilets for them, they defecate and urinate of their streets.

  250. Super info. That’s what I was telling my friends. Chinese demographic problem of having too few children, too few women and the young ones do not want children at all. The huge housing bubble of 65 million empty apartments, and also no plan to transition into an automated society just tells the world how fragile this whole thing is. They really are a paper tiger and the WAR will be CCP’s solution to this problem. That’s probably why they’re so aggressive in taking over the South China Sea. They’ve gone all-in on the present despite the fact that the near future will eventually come collecting a debt they can’t pay. They either need to do something crazy soon with the 90,000 dams to control floods they built – cutting corners and using untested technologies … or they’ll fall apart eventually like every other regime of their nature.

  251. You never told us why the China Property Bubble hasn’t burst. You only told us about how it is perpetuated. You missed your own point.
    When it does burst … it is going to be very ugly. Or there will just be a lot of writes offs … what do you think?

  252. When more western countries start boycotting China exports worldwide like electric vehicles and manufacturing products for batteries, boycott China’s oylimpic genocide games, maybe it’ll help it along

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