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The downturn in Shanghai's real economy is apparent and has impacted the development of new projects. A hot topic in China's business circles is the reported halt of the 'Golden Central Development Belt' project in Shanghai, planned with a total investment of about 624 billion yuan. Initiated in July 2020 under the leadership of Chinese Premier Li Qiang during his tenure in Shanghai, experts believe the project's suspension reflects a pessimistic outlook on China's economy, governmental budget constraints, and a significant reduction in infrastructure projects.
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China is facing a spiralling debt crisis and a period of deflation which could very well end their 45 years of economic growth and reform.
And there isn’t a simple reason why this is happening, but rather a compounding of policy decisions, unexpected spread of disease, market euphoria, lies and mistakes.
This video includes a history of China's economy, their recent economic problems including the real estate collapse, stock market stagnation and pandemic aftermath, and a deep dive into the current and ongoing debt and deflation crisis in 2024.
TIMESTAMPS
INTRO 0:00
45 YEARS OF GROWTH 1:16
STATE OWNED ENTERPRISE 4:17
CRISIS AFTER CRISIS 5:05
HIDDEN DEBT CRISIS 10:29
DEFLATION SPIRAL 13:47
A Hong Kong court has ordered Chinese property developer Evergrande to liquidate. But there open questions about jurisdiction of the ruling.
Sources:
-https://www.reuters.com/business/chin...
-https://www.bloomberg.com/news/articl...
-https://www.cnn.com/2024/01/29/busine...
-https://www.bbc.com/news/business-675...
-https://abcnews.go.com/Business/wireS...
-https://apnews.com/article/china-debt...
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/ comparison-between-2008-global-financial-c...
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