Biden calls China a 'ticking time bomb' due to economic troubles
3 years ago by 🇵🇸 Free Palestine 🇵🇸 to c/worldnews
China's economy is stacked like a house of cards and could come crumbling down due to some unforeseen global financial shock, but then again that sounds like most modern economies. I think people just pick on China because, instead of having a group of billionaires stack up the cards, the government does it themselves.
China is a bit different in that regard, though.
Since apartments are pretty much the only investment for private savings, there's a huge percentage of the GDP tied to construction. This bubble is not quite bursting, but rapidly deflating, leaving many regular people practically without savings.
Other countries have inflated real estate markets as well, but their markets simply are not that large in comparison (percentage of GDP).
I'll drop this beautiful book here: https://en.m.wikipedia.org/...
Americans have been predicting the collapse of China for 30+ years. It's just wishful thinking.
I don't know about China, but Biden is really throwing stones from glass houses here as the leader of a country which is teetering on the edge of civil war, had a full blown insurrection in the past few years, and not only has it failed to prosecute the leader and instigator, it has allowed him to run for election again and there is a possibility of him being elected.
And this is not mentioning that so many in the highest offices "on both sides" are so hilariously corrupt in a country with its national ethos being "the land of the free".
I'm not happy about this by the way, I don't think a world order built by China would be better than the shitty one we got from the US.
I believe the correct spelling is "Land of the free^*" ^* terms and conditions may apply
We're not teetering on the edge of a civil war, the rednecks are just rednecking again, no news here.
It's like if you had a motion in the UN and north Korea objected and the media said "Uhoh, looks like the UN is divided!"
Rednecks need to object, it's the only way functional people can be sure they're not doing the wrong thing.
I love Ground News as a concept, but I always feel suss using anything which is promoted in sponsorship deal by YouTubers.
Is there anything I should know about them as an organisation? I feel by design if they were to have biases or open to manipulation that it would be really obvious..
Each specific article will show you the sources. It's kind of interesting to flip through the headlines and see how each source might describe the same thing differently.
https://mediabiasfactcheck.com/ground-news/
EDIT: Come on, don't shoot the messenger..
More than a fifth of Chinese age 16 to 24 are out of work.
Spain and other southern EU countries have experienced this, and even higher unemployment rates in the past, but with China’s rather large population, we’re about 30 million young people in a country with few safety nets.
China’s economy barely grew in the second quarter from the first and youth unemployment hit a record high in June, providing evidence of a fading recovery.
So what is Xi going to do when these 30 million hit the streets to demonstrate? Draft them and attack Taiwan?
The situation isn't really a lack of jobs, it's that younger generations don't want to work the factory jobs (because they all studied for better jobs) and there is pressure to look after parents. Not only is there an imbalance in young vs old people due to the one child policy but China also passed a law that required children to provide mental and financial support to their parents. Some parents are effectively paying their children to look after them, thereby removing them from the workforce count.
More than a fifth of Chinese age 16 to 24 are out of work.
Does that include people in school?
No. School is “work” in that statistic.
Am I supposed to believe a 1/5th of 16 year olds aren't in school?
Yeah I was going to say that seemed like a weird range to cherry pick. I have to imagine the 16-17 crowd in the US is like, 25-50% employed at best, and that's 2/9. 5-6/9 in that range are school age if you count college.
I wonder what that looks like for the US
it's 7.5% for the US and 13.9% for the Euro zone. India, which has a similar population to China is at 17.9% which is so much lower than I would have imagined.
Like we're one to talk lmao
Lemmy is a ticking time bomb.
1003 now
which doesn't really have anything to do with a healthy or unhealthy economy.
well stated good sir, you have truly changed my mind.
Its far more weird how many people pick one of these countries like its a RPG faction. Can we all agree most of these countries do some totally evil things as far as governments go? Who gives a fuck how much debt they're in, they're all just printing their monopoly dollars anyways and we're stuck with the inflation. Its like people like to masterbate to their favorite team via internet comments.
I haven't heard about that but I doubt it. Deflation is horrible. It stops economies from functioning. Your money will be worth more the longer you wait to spend it, so you don't spend it until you need to. No government is going to let deflation happen without something going horribly wrong, which it might be, idk.
Edit: apparently the consumer sector experienced deflation. I believe that means it shrank, not the value of money increased over time, which is what is implied by inflation/deflation without other context. I could be wrong though. Either way, it doesn't look great.
600+ years of "team white Europe" hooligans and you're going to complain about unsportsman-like conduct now that the camp you live in will likely have its economy decimated by successful decolonial projects and rematriation of stolen wealth?
The US is the last torchbearer of the "may our team beat their team" that led to the deaths of nearly a billion people, the utter subjugation and domination of multiple billions constituting 80% of the world population, and now that the US finally shows signs of being in an unstoppable collapse and China is creating the conditions for a new global social order you want to say "hey everybody, just be nice to each other and realize all countries are probably bad to the same degree and anybody winning is honestly just as good or bad as anyone else winning".
Fuck off
You need to learn to distinguish between sports and real life. In real life, we actually engage in historical and political analysis for the purpose of creating better understanding of how societies work so that we can a put our weight behind a better future. In sports we just pick favorites. If you think the people supporting China are just picking favorites, then you are deliberately ignoring everything that goes against your indoctrination and diminishing it so that you don't have to think and challenge your deeply held beliefs. That's a lot of effort to, ultimately, just watch North Atlantic fascism go on a global killing spree. Either disengage from politics entirely or get gud, noob.
I see the issue. You're on Lemmygrad. So naturally everything has to be pro China, pro communism, and the moment someone says "yeah they all suck equally" you have to lick the boot. Seek a prescription for schizophrenia.
Ground News isn't a source per se. They provide links to various news sources so you can see different viewpoints on the same story. They try to align the sources left and right and indicate their factuality but that is just meant to be a guide to allow you to challenge your viewpoints or determine factuality and to make it clear what the ownership structure might be guiding them to write.
I've been a paying subscriber for 4 or 5 months after finding them and find it quite reasonable and interesting.
https://ground.news/rating-system
tl;dr they buy those ratings from press rating agencies and then average them.
The post itself is dumb, so I wouldn't complain about dumb comments
Tbh, I find the hexbears quite refreshing👌
Big fan :)
Brigading isn't a thing, that's the point of federation. Why is it always people who've joined in the last two months making these complaints? Couldn't possibly have anything to do with events on reddit in that time frame could it? 🤔
I had a look cause you made me curious... It's just hippies. "Disassociating from the system will destroy it" "I'm sick of furry porn re-enforcing capitalist ideals" "The only reason you're not a Marxist is that you didn't really 'listen' when you were in college. Wait is Marxism the bad one?"
Doesn't China have a history of repeatedly shattering into a thousand pieces?
I'll take that as a yes.
That’s fair. I did not know the background of lemmy.ml or hexbear and I’m certainly learning that users from particularly the latter are somewhat unstable. I just subbed to a bunch of top news communities when I joined Lemmy. That’s on me lol.
If it works for you, good. I did the same for 'politics' which is just us politics. I still look over the fence occasionally though.
On Kbin, individual users can block instances. By going to https://kbin.social/d/**instance.name**
You can't block instances but you can block the lemmy.ml and hexbear.net magazines, which are all tankie hell.
I'm gonna keep .ml blocked for as long as they are federated with hexbear, they are annoying as fuck. Also lemmy.ml is super pro-china so it is pretty tankie, might have changed with the reddit migration, but, eh.
It was my impression that lemmy.ml is lemmgrad with a mask on, to pass as somewhat reasonable to the rest of the fediverse. On lemmagrad they just spew their bullshit with no filter.
Everyone is, what with climate change. Southern hemisphere? Only metaphorically for now. Northern hemisphere: in most places both metaphorically and literally.
How ironic, coming from the US.
Seeing in my lifetime how China replaced the US in many segments here. 20 years ago, even our plugs/sockets were US-spec. Now I am talking to you from my home 5G powered by Huawei https://youtube.com/...
Here is an alternative Piped link(s): https://piped.video/...
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source, check me out at GitHub.
you know it's possible to do more than one thing at a time right
Only one answer: https://www.youtube.com/watch?v=fCV8O_EkM4w
Here is an alternative Piped link(s): https://piped.video/watch?v=fCV8O_EkM4w
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source, check me out at GitHub.
Holy shit a 1000+ comments
Dude, on lemmy consent is just not as heavily manufactured by capital interest as on other platforms.
Its the absence of bots you're experincing and possibly some withdrawal symptoms.
All good we're here for you, one doesn't get off of propaganda easily
Hey everyone! This guy is right tho! I can confirm, I'm a ccp bot. You see my maintainers been running low on social credits for some months now. need to earn some yk?
Everyone but me is a bot. If you weren't a bot you'd know that.
Is everyone who disagrees with you a bot with an army of bots?
Get over yourself. Lemmy is neither large enough nor significant enough to attract that kind of attention. Is it that hard to believe that there are different people with different beliefs?
You're the reason democracies in North America are becoming increasingly polarized and radical in their beliefs.
Discourse is one thing. Bad faith one-liners is not that.
Anyone know how to block everyone and everything from an entire instance using Sync?
Let's block everyone shattering my Dreamland reality.
Nah just the annoying people.
Is creating echo chambers really desirable in our current political climate? Democracy is built on a foundation of free and open discourse, not in censoring opinions that we don't agree with. All that does is polarize and radicalize people even more.
It's not about an echo chamber. There are some instances that say the same few things without being reasonable. They're just political slogans and myths with little bearing on reality. If they were reasonable, sure. It'd be fine. They will take things out of context and when you provide context that goes against it they find something else to attack and act like it never happened. It's not useful and just makes it harder to see other things.
The entire principle of reasonability lies on accepting that other interpretations of facts exist. Removing those who question the prevailing interpretation is harmful for democracy, harmful for journalism, and harmful for freedom of speech.
Sure, there are other interpretations. There's also ignoring facts as they stand. That's as harmful as anything else.
Sometimes it's not useful to hear certain opinions. I don't care about the opinion that thinks the covid vaccine makes you magnetic, which they subsequently can't verify. It's not useful and most likely harmful. It makes my experience worse while providing nothing. If I can choose to not have that opinion heard, I will. It is not helping me get a better understanding of the world and is only making my experience worse.
Oh, it's not a matter of opinions; I just can't stand Hexbear's ugly emojis polluting my screen.
There's also them assuming that anyone disagreeing with them must be a pro-murica propaganda-guzzling librul, as well as contrarianly shilling for anything that is anti-DaWest™ (or was once communist, if we take some liberties with the term), but that's far less important 🤓
It's not so much the size than the spam that I find annoying. It makes comment sections look like a 2003 blog. A size control feature would be welcome though; but what I'd really like is a "Show Custom Emojis" setting, like we have for scores or avatars.
I think you can do that with an adblocker like ublock: https://lemmy.blahaj.zone/comment/1887301 this was a suggestion for a beehaw user, but you can replace it with your instance.
beehaw.org##.person-listing[title$="@hexbear.net"]:upward(:is(.post-listing, .comment))
beehaw.org##.post-listing:has(.community-link[title$="@hexbear.net"])
PS...lol I haven't got it to work yet 😅 , research, try your luck.
He's gotta find someone to blame when the next recession starts.
bad economic policies
Who cares about China anyway?
Yea the person claiming Biden has bad economic policies wants to ignore the second largest economy in the world… 😂
Specifically the economy we rely on as much as our own because our corporations sent all their manufacturing there.
Don't worry, they won't be outsourcing any more once they bring back child labour... Wish I could add a /s
@lemmy.ml
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@lemmy.ml
News from around the world!
Rules:
Please only post links to actual news sources, no tabloid sites, etc
No NSFW content
No hate speech, bigotry, propaganda, etc
go to feed...
Yeah yeah, I've heard that before. There's a whole cottage industry of "experts" that have predicted the imminent collapse of China going back decades. Call me when it actually happens.
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