Real State of China 🇨🇳 > it’s really bad > friend who has invested in China for over 40 years visited a few months ago > 3rd tier city, not the Shenzhen, Beijing visits that newbies do > 60-70% of homeowners more than 15% underwater on purchase price > wage growth stagnant since Covid > many college graduates working food delivery at US$10-15 per day > layoffs > many workers unpaid for months as governments and companies lack cash to pay > bright spots in tech and robotics yes > but average man on the street is doing badly > shopping malls empty and many stores closed > people milling around aimlessly with little to do > depression level economy > general feeling of the world leaving them behind and of the central government not caring this is the state of the 1 billion people you don’t see in the big cities

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