China’s ‘miracle’ economy is being choked by authoritarian Chairman Xi Jinping

Early in September, an obscure Chinese essayist hit the big league. His article was splashed across state-controlled social media. It even featured in the Communist Party’s premier publication – the Peoples Daily newspaper.He declared the nation’s financial markets would “no longer be a paradise for capitalists to get rich overnight”. He called on the PolitBuro’s to move swiftly on reigning in high housing and health care costs.

But hundreds of smaller real estate developers have already gone bust so far this year. Many builders, contractors and suppliers are in distress.Instead, the message is unanimous: Beijing is in control. “In recent weeks, multiple city governments have stepped in to stop developers from discounting their properties too much in fire sales, lest they send the entire market into a death spiral,” says McGregor.The Communist Party’s central Politburo decided to burst the nation’s overinflated property bubble last year. It initiated a “three red lines” policy – imposing hard limits on debt-to-asset ratios, debt-to-equity ratios, and cash-to-short-term-debt ratios.

Source: Financial Digest (financialdigest.net)

Yup. To much to soon all because of a promise in the last Leadership meeting 20 odd years ago

Wholesome? Really?

Or maybe the world has had enough of labor exploitation, global pollution from unregulated manufacturing, violation of international agreements, etc etc 🙄🤔

he remembered that he's a communist and that he should be destroying the economy, not allowing it to thrive

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Federal Govt should put 10 pc tariff on Australia's iron ore exports - Clive PalmerClive Palmer says the Federal Government should put a 10 per cent tariff on Australia's iron ore exports to China and use the money to prop up the ailing industries targeted by the Xi Ping administration. Australia should stop selling iron ore to China. (Albeit to late) they using it to build a war machine against us Too little too late, China's economy is contracting, they are unlikely to be buying much iron ore or for that matter anything of significance from Australia.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

China sends more than three dozen warplanes in skies near Taiwan in largest incursion yetChina sent 38 warplanes into the skies around Taiwan, the highest number of military aircraft to breach the island's Air Defence Identification Zone in a single day since Taipei began publicly reporting such activities last year. 9News Here we go China starting !,, and scomo was wrong to get better subs? Why is so difficult for some idiots to understand that Taiwan is a Chinese province and Chinese Air Force must protect Chinese airspace? Nowadays, anything about what happened in China will be explained by conspiracy theories by ill-intentioned people.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Crypto could replace domestic dollars in growing countries: IMFCryptocurrencies have attracted strong interest in emerging economies. The IMF says that in some nations, crypto could replace the local currency. swrighteconomy cryptocurrency IMF swrighteconomy If you’re not buying at least some, then you’re silly in the head.
Source: theage - 🏆 8. / 77 Read more »

Evergrande's woes may not trigger the next global crisis. But they're still very bad for AustraliaAs speculation over Evergrande's future continues, there's a growing belief among analysts that the world's second-biggest economy is heading for a slow wind-down that will be painful but predictable. interesting that given the amount of control in China they can control the price of electricity but not the price of local coal So all that happens to us is that we are less rich. Think of the poor families in China who may lose everything they’ve worked for. All those long long hours of work for nothing. That’s the real story here.
Source: abcnews - 🏆 5. / 83 Read more »

Why the South China Sea dispute mattersThe vast South China Sea in the Pacific has become hotly disputed between China and other countries. Trillions of dollars in global trade passes through the strategic waterway. Here is a look at the key issues. 9NewsMelb Because some countries haven’t been friendly towards them Because you and your allies always sail there 🙄🙄 This is why we need a strong nuclear arsenals alliance with the US , UK , India and the rest of NATO. Time to build faster and stronger.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Jingxian is fully vaccinated but Australia didn't recognise it — until nowLaw student Xu Jingxian was fully vaccinated in China, but there was a problem — Australia did not recognise her Sinovac vaccine. Now the TGA has given it the thumbs-up, along with India's Covishield, international students hope it will open a door for their return to Australia. New type of discrimination. Vaccine wars!.!.! ABC peak woke! Forgive me if I'm doubtful about Chinese virus credentials. The national broadcaster sounds like a Chinese 'human rights' propaganda unit. Imm_listening OtherSideAus SookyBlessingtn headslad But China does not recognise any western vaccine?
Source: abcnews - 🏆 5. / 83 Read more »