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The Economist has been predicting economic crises in China for decades, none of them have arrived (lemmygrad.ml)
submitted 2 years ago by to c/genzedong@lemmygrad.ml
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[–] 20 points 2 years ago (2 children)

this doesn't mean that china has no economic issues at all. real estate, for example, must be properly managed without wiping out everyone's investments.

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  • [–] [S] 38 points 2 years ago (3 children)

    I don't think preserving investments is going to be the priority there, rather the focus will likely be on preserving jobs. What I think is most likely to happen is that large chunks of the real estate industry become nationalized.

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  • [–] 1 point 2 years ago (1 child)

    nationalization isn't a miracle solution.

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  • [–] [S] 4 points 2 years ago (1 child)

    It's a pretty good solution that worked many times in the past. Rich investors are going to lose some money on this, but that's about it and frankly that's not even a negative. Ultimately, the goal should be to remove all aspects of capitalism and move towards a true socialist economy that's a mix of state and cooperative ownership. Doing these kinds of nationalization projects helps with the transition.

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