If you would like to see why Evergrande collapsed. Here is a good video from guys on the ground with no hype/spin.
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It has been propped up, temporarily. Will be interesting to see by the end of the day today on the stock market.
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Si vis pacem, para bellum
Actually China is in the same situation as the U.S. was in 2008.
Either bailout the investors or let them go bankrupt.
Save the investors or save the economy?
The U.S. saved the investors.
China, because it has a public banking system, not privatized[Federal Reserve];
is going to save the economy, and let the billionaire investors - eat their bad bets.
China’s not going the financialized capitalist way.
China, is sticking w/a mixed economy; both private & public.
China’s going to stick with industrial capitalism.
The U.S. is going w/a rentier economy; where you own nothing, rent everything.
China will be extremely competitive; the U.S. is not only is agreement incapable, it’s economically uncompetitive as well. But, the ruling class is ok w/the less than one percent living large; while the rest of their population suffers.
It’s U.S. way, or the rented highway[tollbooth] economy.
China will maintain the freeways[no tollbooth] economy.
www.michael-hudson.com/category/interviews/
We Make the Rules
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