27 EMPTY New York Cities Built In China, Where "Total Debt Is $116 TRILLION" ...

[G.L.R.]

China Builds 27 Empty New York Cities

20 January 2022



An aerial view shows the Evergrande Changqing community in Wuhan, Hubei Province, China

As of 2016, China's empty apartment units could house New York City 27 times over... the astonishing inventory of 70 million empty apartments structures accumulating dust throughout China. This may be a good moment to retell an uncharacteristically charming story Trump told on himself, dating to the savings and loan crisis (S&L crisis) of the late 1980s and early 1990s. That was a time when 1,043 out of the 3,234 savings and loan associations in the United States failed as they tried to digest billions in over-mortgaged real estate properties. At that time, Trump found himself walking the streets of the Upper East Side of Manhattan one evening with his girlfriend of the moment. I am convinced that Chinese government statistics are as bogus as those in the United States. And more so ... concludes that total debt in China is a breathtaking 833 percent of GDP. That means a debt of roughly $116.6 trillion.

Professor Christopher Balding of HSBC Business School, Peking University, an authority with good sources in the People's Bank of China's Financial Stability Board

The actual debt level could be three and a half times higher than suggested by official figures. The National Development and Reform Commission says Chinese debt amounts to 260 percent of GDP ($36.4 trillion). The International Monetary Fund (IMF) accepts a lower official estimate of 230 percent... Even Chinese growth rates would not come close to covering annual carrying costs of 29 percent. For one thing, almost every Chinese bankruptcy case brings evidence of undisclosed liabilities of individual companies...Speaking of "shocks," you should not be shocked to learn that Balding was fired from his post at Peking University after discussing his conclusion—based on PBOC data—that total debt in China has surged to 833 percent of nominal GDP... Balding's revelations is that no one knows who owes what to whom or how much can be settled before the whole Chinese house of cards collapses. A collapse of China's asset bubble lies ahead.

China Builds 27 Empty New York Cities
https://www.theepochtimes.com/china-builds-27-empty-new-york-cities_4208921.html

[Br.IanVonTurpie]

We'll.... If it's empty I wonder if China'd mind if we give all our muds parachutes and drop them over it? A good way of getting rid of scum? We'll I guess now Honduras is empty... we could fill that up with unwanted mud? The c$Bts are trying to save Afghan buggers! Stick them there!

[Rev.Cambeul]

We'll.... If it's empty I wonder if China'd mind if we give all our muds parachutes and drop them over it? A good way of getting rid of scum?

White nations simply don't have the budget to equip the Muds with enough cans of spray paint for those pristine walls.

[Br.IanVonTurpie]

We'll.... If it's empty I wonder if China'd mind if we give all our muds parachutes and drop them over it? A good way of getting rid of scum?

White nations simply don't have the budget to equip the Muds with enough cans of spray paint for those pristine walls.

We don't have the housing trust capabilities either!I know people living in caravan parks and motels just waiting ages to get a place on SAHT . Then they decided to take Reffos from Afghanistan and those dwellings went to them while whites went without!

Call those now cities just empty in China "New Afghanistan" and drop all those bastards in there!

[G.L.R.]

Reminded me of this meme.  Wow, how creative.  Give these countries our lifestyles and they go beserk.  With rising ocean levels and built on SAND, the much ballyhooed Dubai city is sinking.  Maybe they will go down with it?  Backward idiots.