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China keeping rent low and housing affordable is the reason why the West thinks China's economy is collapsing. They can't comprehend a world where the economy doesn't prioritize the rich.(lemmygrad.ml)

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☆ Yσɠƚԋσʂ ☆@lemmygrad.ml
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genzedong@lemmygrad.ml
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thejml@lemm.ee
-20 points

If this is true, why are the Chinese buying real estate all over the globe? Something’s not adding up here.

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dolores_clitoris@lemmygrad.ml
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Because houses are used for speculation in the countries where they are buying them

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knfrmity@lemmygrad.ml
41 points

It’s not the Chinese buying real estate in the west, it’s Chinese capitalists. A lot of Hong Kong bourgeois for example have been buying property in and in many cases have moved to the west since 1997, since they’re terrified of losing their extortionate privilege of property ownership under the dictatorship of the proletariat.

Working class Chinese people, while on average wealthier than their western working class counterparts, do not have the capital nor the material interest to buy real estate in the west, whether for speculation or to move their ill gotten gains out of China.

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