China’s Catastrophic Economic Crisis - Is The Bubble About To Burst?
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 6 September 2023
⏱️ 14 minutes
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Summary
In this episode, Patrick Bet-David explains how China is facing a massive economic crisis due to its over-leveraged real estate market and youth unemployment problem. As a special offer our PBD listeners receive free access to Fund&Grow's Business Funding Masterclass: 5 Steps to Securing $250,000 in Business Credit. Click http://fundandgrow.com/pbd/ for this amazing opportunity today. Fund&Grow is also extending a special $500 discount for all Valuetainment subscribers! Connect With Experts On Minnect: https://app.minnect.com/ Visit our website: https://valuetainment.com/ Subscribe to our channel: http://bit.ly/2aPEwD4 @ValuetainmentMoney @ValuetainmentComedy @bizdocpodcast To reach the Valuetainment team, you can email: info@valuetainment.com
Transcript
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| 0:00.0 | I don't know if you're following what's going on in China right now but some are saying China is going through real estate apocalypse literally |
| 0:04.6 | I mean think about how competitive these guys are some can say Americans are the most competitive people in the world |
| 0:09.0 | However, did you know China has a city called Tiantu Chang that they built the exact |
| 0:15.4 | Eiffel Tower in that city they built a strip just like Sean's at least they were in the real estate |
| 0:21.4 | I you buying the city is so expensive kind of like how it is in France |
| 0:24.8 | That's how competitive this place is however China's got a big problem something crazy |
| 0:28.9 | Just happened this last month country garden holdings, which is their biggest real estate company developer in China |
| 0:34.5 | That did 441 billion once last year just missed a dead payment |
| 0:39.3 | You ever missed a credit card payment? |
| 0:40.8 | You ever like I forgot to make that payment who calls you the credit card company |
| 0:43.8 | They just miss a dead payment. You know how much it was just 20 million ones and they missed it and in China |
| 0:49.1 | There's all these cities called ghost cities |
| 0:51.3 | They have 65 to 90 million vacant homes |
| 0:56.7 | Everybody's looking at the data saying China selling themselves as they're doing really good |
| 1:01.0 | But wait till you see when we compare them to another case study of another country that grew as fast as they did |
| 1:07.0 | You should see what happened to them next if you give value out of this video give it a thumbs up and subscribe to the channel |
| 1:12.0 | Do you remember earlier this year or last year when Silicon Valley Bank or signature or it was a couple other ones |
| 1:18.3 | I went out of business and others came and picked them up because they were rates were going up too quickly |
| 1:22.7 | They could have made their payments like oh my god, what is going on over here now |
| 1:25.4 | Imagine if that happened to JP Morgan Chase or a black rock because this company we're talking about is not just one of the companies |
| 1:32.1 | It's the biggest company in the real estate development business |
| 1:35.9 | So when you look at this chart here from country gardens dollar bonds slump deeper to distress levels look at the date of June middle June |
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