In this video we go over recent developments in China's banking and real estate sectors. The country is facing new challenges including a banking fraud which saw $5 billion worth of bank deposits stolen as well as a mortgage boycott as homeowners refuse to pay mortgages for unfinished properties.
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#Wallstreetmillennial #china #economics #economy #recession
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Buddha by Kontekst https://soundcloud.com/kontekstmusic
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0:00 - 1:22 intro
1:23 - 5:08 Banking scam
5:09 - 6:58 Mortgage boycott
6:59 - 7:34 Real estate developers
7:35 Bailout
Sign up to our daily newsletter for free: https://wallstreetmillennial.com/newsletter
Email us: Wallstreetmillennial @gmail.com
Support us on Patreon: https://www.patreon.com/WallStreetMillennial?fan_landing=true
Check out our new podcast on Spotify: https://open.spotify.com/show/4UZL13dUPYW1s4XtvHcEwt?si=08579cc0424d4999&nd=1
All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
#Wallstreetmillennial #china #economics #economy #recession
––––––––––––––––––––––––––––––
Buddha by Kontekst https://soundcloud.com/kontekstmusic
Creative Commons — Attribution-ShareAlike 3.0 Unported — CC BY-SA 3.0
Free Download / Stream: http://bit.ly/2Pe7mBN
Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs
––––––––––––––––––––––––––––––
0:00 - 1:22 intro
1:23 - 5:08 Banking scam
5:09 - 6:58 Mortgage boycott
6:59 - 7:34 Real estate developers
7:35 Bailout
Pray for things to be better
So… it was a scam/fraud… and bank managers are part of the blame… for allowing a product/service not insured by the state's bank…
why china currency is so high?
Why white folks put & in to Sina bank?
Great stream, as always. I appreciate the level-headed approach you take to the news and the markets. A lot has changed and that's on everything but the truth is I don't even care much about bullish or bearish market anymore because Mr Richard Scote got me cover as I am comfortably making 1.5B T C monthly…
So much for the superiority of the Chinese system.
Just seeing that face in the thumbnail is already enough to make me want to puke.
If they said it's only 5% it's more like 15% .. let's remember China lies about the numbers
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
Check out SerpentZA's video about China's Ghost Cities
you mean china doesnt have 30% of their GDP in poisonous assets?
edit: i have fat fingers
Not only China, but also any non Western model country will "automatically" become the enemy of the west when it develops to a certain extent. Because this will break the myth that the western mode is the only way of human development, and make people doubt the Western values as universal values.
If you look honestly at nearly every financial crisis in the past century, its roots are in the USA. They commit financial crimes at home then export their toxic 'financial instruments' to unsuspecting banks around the world. US financiers are a bunch of Shylock ponzi scheme merchants. Not so much the Merchant of Venic, more the con merchants of Wall Street,.
Great, just tell that to the American government, so they can stop fucking everything just because they are afraid of China
Many other banks are showing same kind of symptoms, all of sudden your bank account/cards will be blocked for frivolous reasons like making not enough transaction to too many transaction in a country where noone is using cash.
Fake news
china bailing out people with 15k USD needs to be taken with a mountain of salt. most likely those who will receive that money will be preferred customer and the reast will be left out.
wouldnt be suprised if it will be written in the history books China's Great Big Lie
Even the banks are made in China 😁
Hope this video doesn't get censored by evil CCP
you are just taking other people 's reporting and rehash as yur own, this is few weeks old….
Why the h€ll should the Gov bail out Celsius investors? If they had read the T&C's – Caveat Emptor. Maschinsky ran a Ponzi scheme for suckers – at least they will learn a valuable life lesson.
Lol imagine believing ANY economy numbers that comes from chyna. It's faker than the plastic they produce.
Already fan.
You explained the issue about the Bank Withdraws and the Mortgage payment boycott without exaggerating or leaving out the details of what actually happened.
Keep it up!
Most channels that cover China stuff of fud, exaggeration and misinformation… All they need to do is call it like it is.
Given how advanced CCP's facial recognition tech is, Liu definitely had someone on the inside which allowed this to go on undetected for so long.
All of the protesters immediately had their health code changed to red, to limit their mobility.
So naive
Your description of comparisson on what happened in the USA back in 2008 is inaccurate. I was in the mortgage business back then. The collapse then was due to subprime lending. It was easier for people to buy homes than rent and many bought homes that they can’t afford to pay and ultimately defaulting. The sales were booming and everyone can buy a house no matter what financialy situation they were in. This coupled with robo signing of lenders caused the collapse.
Was Celsius a bank. Why should investors get bailed out. The banks in China were banks, the fault lies entirely with their regulatory agency for allowing them to operate with no oversight in the first place. Here you are comparing apples to oranges and then giving praise to the CCP.
China need to hunt down Lu Yi who headed the bank fraud, like what Israelis did to hunt down ex-Nazis that fled justice.
Good video, but dont understand your comparison to the US government compensating investors in Celsius and other cryptos. These are not insured by the FDIC and investors into these should be clearly aware of the high risk associated with these products. Perhaps you could run your videos through an independent review before posting.
You are missing the dramatically important fact that the 3% property price drop is small because the central government has decreed No Price Drop. This is why property sales are tanking so much. Did you not know developers are begging regulators to be let to decrease the price and have some sales, they are even accepting vegetables, grain and garlic as 'payment' to get around the price floor.
Chinese gov and its people have a very different relationship than that of the us. People need to be absolutely obedient and in return, the government will take care of you. When you get scammed, they reimburse you, if you follow them well.
We should go to war with China for stealing our technology.