China’s Economy Just Got Worse | What Comes Next

"the chinese real estate market could see the biggest property crash the world has ever seen"

"the founder of huawei which is china's largest privately owned company said that this collapse will be felt by the rest of the world globally for the next decade"

"it's estimated that china's property sales will go down 30 percent before the year ends which is worse than 2008 when they crashed 20 but actually the data shows that the situation is a lot worse than economists first predicted because so far home sales in china are already down 40"

"the total value of all the mortgages attached to these unfinished projects is estimated to be 1.6 trillion yuan or about 1.4 percent of china's entire gdp"

"if we assume this completion rate is allowed to exist of 50 until the end of 2024 that number will jump to 4.4 trillion yuan or about four percent of china's entire gdp"

"roughly 4 800 companies just reported their earnings and their profits are going through a situation that's close to what happened during the global pandemic for example in the first half of this year roughly 900 companies reported a net loss in earnings"

"since august across 70 cities more than 300 million people have already been affected by either full or partial lockdowns"

"economists are now predicting china's economy will be a lot worse than they originally thought"