everyday workers and citizens have not seen much improvement in their own fortunes during the last few years?
everyday Chinese workers and citizens have seen considerable improvement in their wages during the last few years, thanks to Beijing's insistence on allocating a fixed 58% of GDP to wages. Real estate is not looked on as an investment there, unlike in America, either.
That's just not true. By some estimates real estate accounts for 60-70% of household assets in China, so real estate is most certainly an investment in China, even more so than in the U.S.
WE have been conditioned to think of our homes as an investment and our GDP calculations value them that way.
President Xi has repeatedly insisted that the Chinese NOT to consider homes as an investments. While CPC calculations of GDP value does include imputed rent, it's undervalued (7% of GDP including utilities, vs. 15%+ in the US), using conservative methods that understate consumption by 10%+ of GDP.
Enjoyed this (though I admit to wanting an AI capybara for myself)
I was so tempted to buy
everyday workers and citizens have not seen much improvement in their own fortunes during the last few years?
everyday Chinese workers and citizens have seen considerable improvement in their wages during the last few years, thanks to Beijing's insistence on allocating a fixed 58% of GDP to wages. Real estate is not looked on as an investment there, unlike in America, either.
That's just not true. By some estimates real estate accounts for 60-70% of household assets in China, so real estate is most certainly an investment in China, even more so than in the U.S.
https://www.efginternational.com/sg/insights/2024/china--a-year-of-base-effects-and-property-sector-deleveraging.html
WE have been conditioned to think of our homes as an investment and our GDP calculations value them that way.
President Xi has repeatedly insisted that the Chinese NOT to consider homes as an investments. While CPC calculations of GDP value does include imputed rent, it's undervalued (7% of GDP including utilities, vs. 15%+ in the US), using conservative methods that understate consumption by 10%+ of GDP.