Henan, China bank depositors hit with red health codes

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^I guess this is true in all countries that have completed urbanization. Although China has another layer of bad.
Before sunk costs continue to increase, I prefer to pretend that I have not studied architecture. (and I would say that landscape architecture is worse than architecture)

https://twitter.com/rishibagree/status/1546377648305082368?s=21&t=HEYjuZd5Tcqfy2nEIH0ZgQ

English banners. children. Timely network communication.
Obvious that abnormal organizations are operating.
However, reasonable. And effective.

Henan: Violent clashes after hundreds show up for China bank protest
From BBC, 7/11.

Chinese experts refute Western media hype over Henan banks, saying such cases are isolated
From Global Times, 7/12. Seriously does not represent my opinion.

Some unconfirmed claims.

From Chinese media, Nanfang Daily Newspaper Group, anti establishment tendency.
https://www.thepaper.cn/newsDetail_forward_18993874

Interesting thread.

I've seen some news about China's real estate market in some local Facebook groups as people speculate that When the SHTF in China, it's going to have a ripple effect around the world, and we're likely to see real estate prices crash in Vancouver.

A few reports over the years claim that foreign buyers are a drop in the bucket here, and that prices have mostly been bid up by locals with access to low interest rates and a FOMO mentality. Possible, but, BILLIONS/year has been laundered in Vancouver real estate. Myself, and most locals, do not believe official reports that foreign buyers have had little impact on local prices - especially given the number of empty mansions & condos all over the city. Basically, we call BS.

Anyways, moving on.. I've read a few articles from various economists that have basically stated that When the Chinese real estate & banking sectors implode for being a massive house of cards ponzi scheme, it's going to ripple out around the world to all of the places China & Chinese citizens have been investing in.. how can it not ?? If they have money troubles at home, how exactly are they going to keep buying everything in sight all over the world ?

Maybe I'll get lucky and as everything crashes all over the place, stocks & other lower priced investment options will tank even further than they have, bottom out, and indicate that it's time for me to buy some and hold 'em for a long time. Best time to buy is when everyone else has to sell off/does so in a panic! While local real estate prices may slide, I somehow doubt they're going to dip down into the realm of actual affordability and thus I may never purchase a home here.. but w/e, there might be other opportunities to buy other asset classes on the cheap thanks to the fallout from all of this craziness.

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No for supporting trump. Because doing so is deplorable.

I would like to say that China's recent loan interruption for uncompleted residential flats is spreading. Under China's system, stopping the payment of loans directly almost means having a bankruptcy record.

However, as far as my city is concerned, it has actually fallen to the bottom, that is, half of the high. I guess there is no more room for decline.
The real foam is in the sub-first tier cities and non core areas of first tier cities.

The school district housing or the core areas of first tier cities will always maintain its value. Unless the school district system itself changes.

China's real estate is not even a market behavior, but involves the financial turnover of local governments. This is a 100% mine that will explode soon.
Look at what happened after Japan's Foam Burst.

However, will it explode before the mines in Europe or the United States?
The first one who can't hold on is the most miserable loser.
Survivors can last longer. But eventually there will be a time for liquidation.

The other part of this story that's interesting is the whole health code green/red thing.. people here who like to follow all sorts of internet conspiracy theories like to talk about China's social credit system being a blueprint for a global system of control.. and talk about how government(s) will have the power to just shut you out of society/monetary system/travel etc at the flip of a switch like that episode of Black Mirror. It's always seemed a little far fetched that things could go that route.. but here we are with China doing exactly that to their citizens on whatever whim they feel like doing it for.. so, maybe peoples fears stoked by internet folklore aren't completely unfounded here after all and maybe this is a system to contest/prevent from being implemented for the sake of personal security and privacy from an overreaching government.

_________________
No for supporting trump. Because doing so is deplorable.

https://weibo.com/7286955267/LBBILylZj#comment
Interestingly, Chinese Foreign Ministry spokesperson zhaolijian posted the following on July 10.

Zhengzhou night view

^ What do you think he's criticising?

The photo looks quite nice, too.

Oh okay, thanks. I thought that the Foreign Ministry might've been trying to criticise someone abroad. I probably should've paid more attention to the date, lol.

Here, if the government wanted to downplay a particular issue, they might announce a new investigation or policy, or promote a story on an entirely different topic. Posting a photo of the city in which protests are occurring – even a nice photo – could end up reminding people of the very story they're trying to suppress. Especially if that story has already gotten widespread media attention.

Do you think the Central Government will be able to stabilise the situation soon? The subprime mortgage crisis in the US hit the world economy hard, and I'd hate for something similar to happen in China.