tarmac
Senior Statesman
Posts: 860
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Post by tarmac on Jan 24, 2024 8:26:00 GMT -8
The Chinese economy Is a mess.
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tarmac
Senior Statesman
Posts: 860
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Post by tarmac on Jan 24, 2024 9:10:53 GMT -8
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billb
Senior Eminence Grise
Posts: 3,084
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Post by billb on Jan 24, 2024 10:42:05 GMT -8
Ghost cities in China. Bizarre, huh?
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thefrog
Eminence Grise
Posts: 1,819
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Post by thefrog on Jan 25, 2024 5:48:21 GMT -8
Wonder where they're going... ooohhhh
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SK80
Master Eminence Grise
Posts: 7,377
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Post by SK80 on Jan 25, 2024 12:15:02 GMT -8
The haves and have nots in China is staggering, those whom can or could make outside the mainland China investments have done so at alarming rates, buying up assets abroad. The east side of LA is become all but a Chinese/Asian enclave that is quickly becoming a satellite country. From Arcadia, Alhambra, Highland Park, San Gabriel, San Marino & much of Pasadena now claim a majority and it has come about very quickly. In real estate, there are swaths of purchased yet still vacant properties around these areas. They are simply being bought as investment and/or for future use. A backstop for if & when the Chinese economy collapses.
Of course like dominoes, we should hardly be rooting for this as our economy would be greatly effected.
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billb
Senior Eminence Grise
Posts: 3,084
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Post by billb on Jan 25, 2024 19:21:12 GMT -8
I have a customer whose family owns a fan factory in China, or perhaps several of them. They sell to Home Depot mainly. Big fans, not ceiling fans. But anyway, he told me that they shut down the factory in China because the government wants employers to pay for health insurance for their workers. He said they are looking at moving to southeast Asia. I started noticing on some of the products I sell: Made in Vietnam. This is going to be a big win for south-east Asia.
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Luca
Master Statesman
Posts: 1,317
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Post by Luca on Jan 25, 2024 20:19:48 GMT -8
Around 6 years ago my wife and I were the guests of a family in China that thought they owed us a favor for hosting their son for three years in high school. I had no idea how wealthy this family was and the week or so we spent there still has me shaking my head. Shanghai is amazing. It’s like Las Vegas on the riverfront. The imaginative architecture was stunning, especially for someone like myself who knows nothing about it.
To this day the Great Wall, along with the Vatican, are the two most incredible man-made things I have ever seen. China overall is impressive as hell.
But we did see ghost cities as we were chauffeured around the country. You would see enormous developments of highrises - dozens at a time - and they were all completely empty, probably have been for years. The highways were new and in excellent condition, but there weren’t a whole hell of a lot of people on them. The patriarch owned three car distributorships, factories and God knows what. Yet I could see workers living in the factories with their families, some of them sleeping on the floor. He was in the process of building a nine story building to house some of his employees. Some of the things I saw and experienced I can never forget.
Seeing those videos makes me wonder how much of what I saw was a Chinese version of Potemkin villages………..Luca
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Luca
Master Statesman
Posts: 1,317
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Post by Luca on Jan 25, 2024 20:28:37 GMT -8
Around 6 years ago my wife and I were the guests of a family in China that thought they owed us a favor for hosting their son for three years in high school. I had no idea how wealthy this family was and the week or so we spent there still has me shaking my head. Shanghai is amazing. It’s like Las Vegas on the riverfront. The imaginative architecture was stunning, especially for someone like myself who knows nothing about it.
To this day the Great Wall, along with the Vatican, are the two most incredible man-made things I have ever seen. China overall is impressive as hell.
But we did see ghost cities as we were chauffeured around the country. You would see enormous developments of highrises - dozens at a time - and they were all completely empty, probably have been for years. The highways were new and in excellent condition, but there weren’t a whole hell of a lot of people on them. The patriarch owned three car distributorships, factories and God knows what. Yet I could see workers living in the factories with their families, some of them sleeping on the floor. He was in the process of building a nine story building to house some of his employees. Some of the things I saw and experienced I can never forget.
Seeing those videos makes me wonder how much of what I saw was a Chinese version of Potemkin villages………..Luca
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