Evergrande: China property giant and its founder accused of $78bn fraud
Evergrande: China property giant and its founder accused of $78bn fraud
Former billionaire Hui Ka Yan has been fined and faces being banned from the financial markets for life.
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Gee it sure sucks that Evergrande collapsed. What a horrible sign for the Chinese economy!
You would think that multiple fake cities built out of the cheapest materials possible might have been a sign that something was fishy ... I mean.... How could anyone have known!?!?!???!!
Edit: Lulz. This is a news community on .ml. Oops. I usually try to stay away from here, but I'll just YOLO this one out since the replies are already hysterical.
If you keep getting your understanding of China from Five Eyes propaganda and corporate media, you’ll keep being wrong.
- CNN, 2017: China’s metro station in the middle of nowhere
- 2023: This Is What the World’s Loneliest Metro Station Looks Like Today
.
Corporate media paint China in the worst possible light they can get away with, because this is a cold war in which propaganda is a major component, just like last time. They absolutely do not want you to notice anything that makes capitalism look worse by comparison. Plus they get flak and lose access to sources if they don’t.China paints China in the worst possible light, actually. Hell, even their mass produced fake electronics paint a grim picture at the micro level of how that country operates.
That's also hysterical that you are bitching about western propaganda, when China is the undisputed king of bulk fake news.
You sound like one of these shills, actually. You didn't post anything useful, but rather, just regurgitated some random poor-China schtick.
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Hell, even their mass produced fake electronics paint a grim picture at the micro level of how that country operates.
Where do most iPhones and other smartphones and laptops come from? What country has more high speed rail trackage than every other country combined? Yes, they will also output cheap crap if companies are willing to sell them.
That’s also hysterical that you are removed about western propaganda, when China is the undisputed king of bulk fake news.
Where to start…
A KGB spy and a CIA agent meet up in a bar for a friendly drink.
"I have to admit, I'm always so impressed by Soviet propaganda. You really know how to get people worked up," the CIA agent says.
"Thank you," the KGB says. "We do our best but truly, it's nothing compared to American propaganda. Your people believe everything your state media tells them."
The CIA agent drops his drink in shock and disgust. "Thank you friend, but you must be confused... There's no propaganda in America."
- Noam Chomsky - The 5 Filters of the Mass Media Machine
- Propaganda model
- Edward Bernays
- Walter Lippmann
- Imperialist Propaganda and the Ideology of the Western Left Intelligentsia: From Anticommunism and Identity Politics to Democratic Illusions and Fascism
.
Below is a copypasta of my own comment last week, in response to someone’s weapons-grade gish gallop: “I’m pretty sure the Tiananmen square massacre was a bigger crime. Not to mention their genocide of the Uighur people, their oppression of Hong Kong, their attempts to steal Taiwan’s sovereignty.”
Tiananmen square massacre
- The Tian’anmen Square ‘Massacre’: The West’s Most Persuasive, Most Pervasive Lie.
- 1989 Tian'anmen Square riots
- A Note on the Tiananmen Protests
- Images from Tiananmen 1989 the West never shows (NSFW / CW: violence and death)
- ‘Tank Man’: the full footage. Tiananmen Square, Beijing, 1989
their genocide of the Uighur people
This bullshit never ends, does it?
- https://lemmy.ml/comment/8588979
- A Reddit AMA Claiming To Be A Uyghur Quickly Exposes A CIA Asset Slandering China
their oppression of Hong Kong
Hong Kong was the product of the UK’s century of Chinese oppression, and their 99 year lease on oppressing Hong Kong ended in 1997.
steal Taiwan’s sovereignty
Taiwan is only considered sovereign by eleven countries, most of which are micronations like the Holy See, the Marshall Islands, and Tuvalu: https://en.wikipedia.org/wiki/Political_status_of_Taiwan
was a bigger crime
I guess some things just never actually happened.
Reporter: [REDACTED]
Reason: Tribalist reactionaryReporter, I’d like to know how an anti-imperialist stance is reactionary or how a debunking of Five Eyes propaganda is tribalist.
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Noam Chomsky - The 5 Filters of the Mass Media Machine
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
Nice Gish Gallop. Care to try again and not be a tanky stooge?
tankie stooge.
The banality of liberalism.
My country is manufacturing consent for a World War III that could end in nuclear winter, and I dissent.
Delete more of my posts you coward.
This is a gish-gallop of garbage and mods can remove my posts all they want. I'm not registered on lemmy.ml and your rules mean nothing to me.
Here is an alternative Piped link(s):
This Is What the World’s Loneliest Metro Station Looks Like Today
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
There was enough pent up demand in the Chinese property market to fill these cities, but the national government saw overall demand would fall as early as 2021 when it started restricting some types of construction projects, like some skyscrapers and subway lines. You are also seeing some provinces adding in perks for buying property, like hokou registration.
It seems like China has mostly cought up to a lot of its demand for urban residential property. This is a problem as most municipalities and provinces have relied on property development as a way to fund local services.
The Chinese property crisis may end up being on post with the American mortgage crisis in 2007-2008. However, the Chinese crisis will look very different compared to the American one.
Poe’s law is real, @filoria@lemmy.ml.
I challenge you to look up any of those “ghost cities” now. Literally all are filling up. People really don’t understand planning and building for the future?
Not really future proof when they're being built with shit materials, you can literally crumble the concrete with your bare hands.
Imagine complaining about the build quality of Chinese apartments when your reference point is... American ones.
No sheathing, drywall on inner walls, barely any insulation, plywood only for the minimum necessary to guarantee wind stability... Pot calling the kettle black, really. You can literally run through walls of new builds in the US.
China builds housing for the market. While quality might be high in tier 1, 2 and even tier 3 cities, that's not going to be as true for tier 4 cities that are designed to absorb the massive rural-to-urban migration of poor farmers... The market doesn't demand it. You're kidding yourself if you think even the shoddiest constructed apartment isn't better than the average rural home which not only lacks building codes but lacks modern materials.
China builds housing for the market.
Their stock market, maybe. There is a reason this company imploded and it was because of their investor market, not real demand. Those ghost cities were the product of an investment housing market gone wild. Right now, it's the same failure mode, regardless of the country.
Can confirm, im a badly built house in China ghost town. My bad concrete hands crumbled after writing this
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