Global North corporate media view China’s economy through a capitalist lens, so the reporting in question is garbage in the first place.
One example: China intentionally popped the real estate speculation bubble so that regular people can continue to afford housing. China hasn’t made the mistake that the US has: namely housing as an investment vehicle. And the Chinese state can do that because the capitalist class is not in control, whereas the US is an oligarchy. CBS: Homes “unaffordable” in 99% of nation for average American
Just because one’s house is one’s largest purchase doesn’t necessarily mean it’s an investment vehicle for which one can hope to get an 8% yearly return. China has a lot of public housing and is creating more, which in turn suppresses private housing prices. China to increase govt-subsidized housing in 2021-2025
Global North corporate media view China’s economy through a capitalist lens, so the reporting in question is garbage in the first place.
One example: China intentionally popped the real estate speculation bubble so that regular people can continue to afford housing. China hasn’t made the mistake that the US has: namely housing as an investment vehicle. And the Chinese state can do that because the capitalist class is not in control, whereas the US is an oligarchy. CBS: Homes “unaffordable” in 99% of nation for average American
Housing is the #1 investment in China by a long shot, what are you talking about?
Just because one’s house is one’s largest purchase doesn’t necessarily mean it’s an investment vehicle for which one can hope to get an 8% yearly return. China has a lot of public housing and is creating more, which in turn suppresses private housing prices. China to increase govt-subsidized housing in 2021-2025