82% Collapse: The REAL Crisis in the Chinese Economy | Evergrande Housing Crisis | Common Prosperity

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China Update is about China economic and political news and analysis, today we discuss the Chinese economy, Evergrande Housing Crisis and other China news #chinaupdate

00:00 Introduction
00:29 China Housing Sector Updates | The True Crisis
05:20 ‘Common Prosperity’

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China Update provides you guys with the most up to date political, economic, and geostrategic analysis on China - so that you are on top of the world's number 2 economy. I was originally a lawyer who later moved to China to work in policy. My videos are based on hundreds of articles, think tank reports, government statements and other resources in English and Chinese. The views and analysis are all my own and I make the videos.

Disclaimer: China Update is not a financial advisory channel. Nothing I say should be taken as investment advice. Please speak to a professional before making any investment decisions. While I take great care in researching everything discussed in my videos, I do not guarantee that all claims are 100% accurate, all claims should be verified by viewers.

[daisymann]

As the euro has fallen below parity with the dollar and the British pound plunges toward a one-for-one exchange rate as well, another currency is also weakening against the dollar: China’s renminbi.>

[vanityplates_se]

Take a day off if you need. You deserve it, as always.

[scottsmith]

Great episode once again. My new favorite phrase: end quote and quote. 😀 Enjoy your Weekend. See you on Monday.

[stewartshearer]

I have been supporting this channel and I think "EVERONE READING THESE COMMENTS and LEAVING COMMENTS" Please consider supporting Tony's channel monthly, we need to support his important work, THANK YOU! Stewart S😎😎

[fernandoalegria]

You've earned it. Mud about to hit the fan in China, rest up, will be busy. A real pro.

[evan]

Yes! I agree with a well deserved day off. Your hard work keeps so many of us informed, it is greatly appreciated brother.

[peterkops]

Scammers active in comments are much more active than previously. Communicate with them at your peril.

[mrmoneyhacks]

Chinese People: "Sir, we're making a big mistake! What should we do??"
Every Chinese Leader Ever: "DOUBLE DOWN!"

[Rapture]

Balanced and comprehensive. Thank you for your evidence based insights.

[richardtrujillo]

Excellent report. I read this morning that major Chinese banks have been told to prepare for a dollar "dump". This would include the banks overseas branches, HK, NY and London. This to stop the yuan weakening further. Cheers y Salud.

[lt]

Common prosperity is a fancy name for uniform poverty.

[Hannodb]

I like the flowers and butterflies in your voice every time you quote the CCP.

[peaceraybob]

The moment I heard Tony use the phrase 'common prosperity', I had horrified flashbacks to the Cultural Revolution. I'm sure an older generation would equally be thinking about the Great Leap Forward. In both cases, it was the rising middle class and the experts in a number of fields vital to the nation's development that took it in the neck.

[coraltown]

common prosperity = "We will take your money at any time for any reason".

[lorentzinvariant]

Is it just me or does Tony sometimes take a mild sarcastic tone when quoting pro CCP rhetoric.

[frederickclause]

Common prosperity - foreign owned businesses such as Tesla should be worried. China has already stolen most of their tech, they should be ripe for the picking.

[ranradd]

When Mao wrote in 1927 "The patriarchal­ feudal class of local tyrants, evil gentry and lawless landlords has formed the basis of autocratic government for thousands of years and is the cornerstone of imperialism, warlordism and corrupt officialdom." he was essentially talking about a hoped for "common prosperity" with the peasant class leading the way. This never really happened and suffered greatly on the backs of the CCP during the early "programs" and still today. (from REPORT ON AN INVESTIGATION OF THE PEASANT MOVEMENT IN HUNAN, by Mao Zedong, March 1927)

[FrankLloydTeh]

Reduced requirements for lending caused the 2008 financial crisis

[jwarmstrong]

Buy a home in Beijing we have only 4 lockdowns per year - think of this a 4 free vacations home w/ family & a way to lose weight - bargain prices for first time buyer(sucker) - will take grain, fish & organs for down payment - have 3 kids & get thousands in child care

[theomnisthour]

Common prosperity = Uncommon misery for anyone not protected by high party connections