This is exact CCP wanted, since real estate growth won't be sustainable. Need to put it down before it make another 2008 crisis. Luckily, we recent made progress on new engines, HSR, big plan, new energy, EVs, AI, Chips ...
You make it sound as though the CCP planned this out. No it didn't. It sprang into action once it saw major construction giants like Evergrande defaulting. Now the CCP & its slaves cum cheerleaders like you are intent on spinning this off as some sort of huge calculative plan by the CCP which wanted to reform this sector.
Further it doesn't account for the vast number of citizens who've paid their advances but haven't received possession of their properties who then refused to pay their mortgages. That's still not completely addressed & is a ticking time bomb which is why presently the Chinese aren't spending at all but saving as the future is uncertain. That explains your deflation.
EVs , AI , Chips etc while impacting the vast majority of people actually lines the pockets of a few unlike say common industry - light medium or heavy or even the realty sector. More than domestic consumption , you stand to benefit thru exports but the most lucrative markets where the real cream lies - the west is gradually erecting barriers for your products in this segment .
Hence you've to content yourself with secondary & tertiary markets like Latin America , Africa , ASEAN etc . India would've provided you with adequate growth like it did with TikTok where before it was banned , it had the largest subscriber base outside China. You ruined the market all on your own .
15 yrs ago, best major from universities was contruction and finance, now the hottest profesions are materials and chemicals.
My friend in local government spent 5 yrs, established Delviery Centers for those big online tutoring companies from coastal lines, created 10,000 jobs, over one night CCP made a ban, everthing became ZERO. Everyone knows this is a bad industry, but only CCP had gut to kill it in few months.
You seem to have friends all over the place. But what the hell , you're a pal & you're Chinese. I trust you implicitly. The realty industry was killed by greed . CCP is merely burying the corpse & along with it a lot of live Chinese people. Eventually on the day of final reckoning all such incidents like these add up to explode into discontent when the CCP slaves believe the CCP has lost the mandate of heaven. Has happened plenty of times in your history. This'd be one more time .
As an elephant, you can't hide urself inside a small room. When the Huawei became top1 in 2019, threating westerner's cash cow, they are trying to kill u anyway.
Well what do you expect ? Gwailou loves putting his hand in your pocket bit doesn't like you doing the same to him . How many times must I explain it to you ?
And if we don't make OROB, we can't climb the value chain. But if we make OROB, it will make the noise in international community.
Your BRI or OROB is now over . It was a nice con game while it lasted but too many economically unviable projects at financially unviable terms resulting in bankruptcies & seizing of assets like in Sri Lanka before the country itself went bankrupt is something that didn't escape the world's notice . Moreover when China launched BRI / OROB , it was in the pre Wuhan virus era where China was loaded with cash , its beneficiaries all starry eyed expecting miracles besides of course the kickbacks you paid to all those politicians across the world to accept your ridiculous terms of agreement all lop sided in your favour.
Ever since most of these projects started going bankrupt which were financially unviable to begin with your banks no longer have the capacities to bear more losses which is why the latest editions of your BRI / OBOR summits are no longer hyped but rather low key. Countries like Italy which once enthusiastically participated in it have withdrawn. Shows the world what they need to see instead of what the CCP is showing them .
Sometimes when you big enough, you have no choice.
Yeah . Perhaps you ought to take a leaf from the US . Nobody likes them but no country can do without them . Can the same be said of China ? Absolutely not .
Between India and Singapore, who is a more open society? Maybe India, but if you ask me which style we wanna go? I personally chose Singapore. I think China is on the way of becoming the mega size of it, this might be arranged after Deng Xiaoping met Lee Lee kuan yew during 1980s'.
Are you actually comparing a nation of 5 million people + 5 million immigrants to a nation of 1.4 billion people ? What's wrong with you ?
And if CCP believes they can be the bigger version of Singapore all the best to them. The things which makes Singapore , Singapore is zero corruption , meritocracy & rule of law above everything. CCP is the most corrupt organization on the face of the earth where development & corruption goes hand in hand , meritocracy & rule of law depends on which party faction you owe your loyalty to .
And you know the best thing ? Your great helmsman 2.0 is actually trying to implement exactly what you're suggesting except it's too late in the day as corruption is well entrenched in your system. Maybe that's why great helmsman 2.0 banned that book on the last Ming Emperor - Chongzhen Emperor for he too tried to reform the Ming Empire which was unreformable by the time he ascended the throne & through his mis steps. haste & poor judgement he brought about the end of the empire faster than most expected.
Except your great helmsman 2.0 is a work of art . He's purging his opponents under the guise of reforming the system. But by the looks of it , he's facing massive push back from the various factions in the CCP. What else explains his getting rid of Qin Gang & Li Shangfu ? Hope the 2 men are still alive .
Finally Singapore is a monarchy masquerading as a democracy where the eldest family member of the Lee family is the PM & other family members occupy important state positions in Singapore like the head of their sovereign investment arm - Temasek , etc . So yes , I'm sure you'd find yourself completely at home in such a set up & your great helmsman 2.0 is probably implementing his version of Singapore style governance in China. All the best to you. I've a feeling you'd need it .
economictimes.indiatimes.com
Just like the people who believed in Gordon Chang decade after decade. At least he wrote a book, those are anti-Chinese YT channels where you can post anything they gleaned from Weibo and Chinese sociel media and deliberately do it out of context 
