• TranscendentalEmpire@lemm.ee
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    5 days ago

    I’m guessing they believe that the real estate collapse is a 4d chess move to entrap private equity. I’m also guessing they don’t realize the largest real estate developers in China are already state owned entities…

    SOE are owned by the state, but they are operated just like any other profit seeking organizations, and thus are not immune to the same problems with private equity we have in the west.

    • technocrit@lemmy.dbzer0.com
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      5 days ago

      I’m guessing the state is just another fundamentally corrupt government that will print endless money to prop up the rich (including the state itself) at the cost of extreme inflation for the poor…

      I mean this same thing happens in USA regularly and it’s never a “trap” by the state for the rich people who run the state.

      • shortwavesurfer@lemmy.zip
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        5 days ago

        Oh, don’t get me wrong. The state is absolutely corrupt. But this sounds more like China is going through what the United States went through in 2008, which did not cause much inflation to consumers because there were more claims for money than there were money in existence. So printing money just caused less deflation than there otherwise would have been. That’s absolutely still not a situation you want to be in though.