- Oct 14, 2020
So much debt to look fancy"country's inability to get financing for infrastructure" - and this is based on?
14767 projects worth $2 trillion are under various stages of implementation:
Surely you dont think the Indian government has made us all sell our gold to finance $2 trillion worth of projects?Invest in India: India Investment Grid (IIG), is an initiative of the Government of India showcasing best investment opportunities across states & sectors on a single platform. Explore now!indiainvestmentgrid.gov.in
Overestimation of Chinese especially the CCP bots about their ability to finance their projects is frankly hilarious. With tons and tons of empty cities, amusement parks, China's only method to show GDP growth has been to build and build taking on huge piles of debt. Meanwhile an ordinary Chinese lives in the same old slum in Guangzhou, just looking up at all the shoddily built, ugly looking apartments next door that no one is able to afford and blocks all the sunlight for their shanty houses and turns Chinese cities into what looks like rows upon rows of prisoner housing. Just a satellite image of Guangzhou shows how bad the city is. Even several parts of Beijing look like a dump with rows upon rows of soviet-style bland apartment towers, where people live like caged animals in apartments with no facilities and peeling plaster walls. The more upscale buildings are like 50% empty, including in Shenzhen, where the vacancy rate is as high as 22%. This was in 2019 when the wuhan virus hit.
One can imagine what the vacancy rate is now. Probably close to 35-40%.
Shenzhen Office Rent Drops for Ninth Straight Quarter - Cost of office space in the South China tech hub falls 1.6% quarter-on-quarter in the last three months of 2020www.caixinglobal.com
Just overbuilt, poorly constructed buildings swaying in the wind or leaking water, where no one wants to conduct business in. This is the sad story of China.
Now they are exporting this sad story to Hong Kong and destroying that city too, which no longer is the financial hub of Asia with several businesses having moved to Singapore. And leading HK talent emigrating to UK, Australia, Singapore, the US etc. Nice job, CCP virus spreaders. Killing the goose that lays the golden eggs - very nice indeed.