China is officially richer than the USA

Orbital-Fetus

Orbital-Fetus

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Gil Scott-Heroin said:
China has one of the largest wealth inequality rates in the world, where the top 1% owns 31% of the country's wealth, and the gap continues to widen.

Is your country really rich when not everyone gets to eat?
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and their population is like 4 times larger than ours so the pie is getting divided even more.

by the end of the decade China is gonna be thread flop status.
 
Dallas' 4 Eva

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Gil Scott-Heroin said:
China has one of the largest wealth inequality rates in the world, where the top 1% owns 31% of the country's wealth, and the gap continues to widen.

Is your country really rich when not everyone gets to eat?
Click to expand...

The sarcasm and irony of this post didn't go over my head like the rest of these idiots. The US is trash.
 
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Gil Scott-Heroin

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CashmereThoughts said:
and the people that work there are not "walmart" their pawns. Walmart is filthy rich. Just like any other nation, China is a corporation, China will continue to get richer it citizens (employees) won't benefit from that.

The point is from a perspective of power and economic dominance, all of this is irrelevant. They are already skewing our cost of living, access to goods etc. They have already employed several destabilization tactics in the last 2 years and their wealth affords them the ability to do so.
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If you had bothered to read the article properly:
Reportedly, 68% of China's global wealth is stored in real estate. The rest is locked in infrastructure, machinery, and equipment, along with intangible goods like patents and intellectual property. Notably, financial assets are excluded from such assessments as they are effectively balanced out by liabilities.
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It's [fake news] real estate wealth. Word to Evergrande.

The majority of China's wealth is teetering on the volatility of the RE market collapsing, which essentially means whatever power and economic cards they have in the hand will inevitably lose out to a hand that has actual financial wealth, which China doesn't even rank in the top-10 countries (per capita).
 
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China's property slump has deepened official data showed, with new home prices seeing their biggest month-on-month decline since 2015.

New construction starts in January to October also fell 7.7%, compared to a year earlier.

The country's property market has been shaken in recent months as real estate giant Evergrande struggles to keep up interest payments on its huge debts.

China has also been hit by a new wave of Covid cases and major power cuts.

The 0.2% drop in new home prices in October was the biggest fall seen in China since February 2015.

It also marks the first decline in new home prices +since March 2015.

Sentiment in China's property market, which accounts for about a quarter of the country's economic activity by some measures, has been rocked as major property developers grapple with huge debts.

The Evergrande issue

The industry has come under intense scrutiny as fears continue over the future of companies including real estate giant Evergrande.

Last week, Evergrande, which is saddled with around $300bn (£223bn) of debt, avoided defaulting on overdue interest payments of $148m.

Just days before a 30-day grace period on the payments was set to expire it sold a 5.7% stake in media firm HengTen Networks Group for around $145m.

The previous week Evergrande's car making business sold its UK-based electric motor business Protean for an undisclosed sum.

Other Chinese home builders have also struggled to find the money to make debt repayments.


Shares of developer Fantasia plunged by 50% last week after it said there was no guarantee it would be able to meet its other financial obligations following a missed payment of $205.7m in October.

And earlier this month, trading in shares of Kaisa Group and three of its units was halted in Hong Kong after one of its businesses missed a payment on a wealth management product.


China property: New home prices see biggest fall since 2015
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Y'all nxggas fall for the okey doke every single time.

:lolbron:
 
Yinny

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Where da egg foo young daddies at?


If he ain’t Chinese, no please
 
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