Biden calls China a 'ticking time bomb' due to economic troubles
https://ground.news/article/biden-calls-china-a-ticking-time-bomb-due-to-economic-troublesOpen linkView original on lemmy.ml435
Comments117https://ground.news/article/biden-calls-china-a-ticking-time-bomb-due-to-economic-troublesOpen linkView original on lemmy.ml
Yeah yeah, I've heard that before. There's a whole cottage industry of "experts" that have predicted the imminent collapse of China going back decades. Call me when it actually happens.
China's economy is stacked like a house of cards and could come crumbling down due to some unforeseen global financial shock, but then again that sounds like most modern economies. I think people just pick on China because, instead of having a group of billionaires stack up the cards, the government does it themselves.
You just described the US, UK, and much of the western world entirely. The global economy is just a bunch of "IOU"s
China is a bit different in that regard, though.
Since apartments are pretty much the only investment for private savings, there's a huge percentage of the GDP tied to construction. This bubble is not quite bursting, but rapidly deflating, leaving many regular people practically without savings.
Other countries have inflated real estate markets as well, but their markets simply are not that large in comparison (percentage of GDP).
I'll drop this beautiful book here: https://en.m.wikipedia.org/wiki/The_Coming_Collapse_of_China
Americans have been predicting the collapse of China for 30+ years. It's just wishful thinking.
I don't know about China, but Biden is really throwing stones from glass houses here as the leader of a country which is teetering on the edge of civil war, had a full blown insurrection in the past few years, and not only has it failed to prosecute the leader and instigator, it has allowed him to run for election again and there is a possibility of him being elected.
And this is not mentioning that so many in the highest offices "on both sides" are so hilariously corrupt in a country with its national ethos being "the land of the free".
I'm not happy about this by the way, I don't think a world order built by China would be better than the shitty one we got from the US.
I believe the correct spelling is "Land of the free^*" ^* terms and conditions may apply
We're not teetering on the edge of a civil war, the rednecks are just rednecking again, no news here.
It's like if you had a motion in the UN and north Korea objected and the media said "Uhoh, looks like the UN is divided!"
Rednecks need to object, it's the only way functional people can be sure they're not doing the wrong thing.
https://sh.itjust.works/comment/2087255
I love Ground News as a concept, but I always feel suss using anything which is promoted in sponsorship deal by YouTubers.
Is there anything I should know about them as an organisation? I feel by design if they were to have biases or open to manipulation that it would be really obvious..
Each specific article will show you the sources. It's kind of interesting to flip through the headlines and see how each source might describe the same thing differently.
https://mediabiasfactcheck.com/ground-news/
EDIT: Come on, don't shoot the messenger..
More than a fifth of Chinese age 16 to 24 are out of work.
Spain and other southern EU countries have experienced this, and even higher unemployment rates in the past, but with China’s rather large population, we’re about 30 million young people in a country with few safety nets.
China’s economy barely grew in the second quarter from the first and youth unemployment hit a record high in June, providing evidence of a fading recovery.
So what is Xi going to do when these 30 million hit the streets to demonstrate? Draft them and attack Taiwan?
The situation isn't really a lack of jobs, it's that younger generations don't want to work the factory jobs (because they all studied for better jobs) and there is pressure to look after parents. Not only is there an imbalance in young vs old people due to the one child policy but China also passed a law that required children to provide mental and financial support to their parents. Some parents are effectively paying their children to look after them, thereby removing them from the workforce count.
https://www.voanews.com/a/china-elder-care-law-a-struggle-for-one-child-families/1704200.html
Does that include people in school?
No. School is “work” in that statistic.
Am I supposed to believe a 1/5th of 16 year olds aren't in school?
Yeah I was going to say that seemed like a weird range to cherry pick. I have to imagine the 16-17 crowd in the US is like, 25-50% employed at best, and that's 2/9. 5-6/9 in that range are school age if you count college.
I wonder what that looks like for the US
it's 7.5% for the US and 13.9% for the Euro zone. India, which has a similar population to China is at 17.9% which is so much lower than I would have imagined.
Like we're one to talk lmao
Ground News isn't a source per se. They provide links to various news sources so you can see different viewpoints on the same story. They try to align the sources left and right and indicate their factuality but that is just meant to be a guide to allow you to challenge your viewpoints or determine factuality and to make it clear what the ownership structure might be guiding them to write.
I've been a paying subscriber for 4 or 5 months after finding them and find it quite reasonable and interesting.
https://ground.news/rating-system
tl;dr they buy those ratings from press rating agencies and then average them.
While the US sits on $32 trillion of debt....
which doesn't really have anything to do with a healthy or unhealthy economy.
It's a little different when you're the world's reserve currency.
LOL. Fistfuls of copiates.
well stated good sir, you have truly changed my mind.
While the current amount is not great, debt itself is not a bad thing.
BRO WHY ARE THERE 600+ COMMENTS HERE, I'VE NEVER SEEN THIS EVER
Lemmy is a ticking time bomb.
You might want to get those things checked out. Seriously, they're like ticking time bags.
Its far more weird how many people pick one of these countries like its a RPG faction. Can we all agree most of these countries do some totally evil things as far as governments go? Who gives a fuck how much debt they're in, they're all just printing their monopoly dollars anyways and we're stuck with the inflation. Its like people like to masterbate to their favorite team via internet comments.
Isn't China undergoing deflation?
I haven't heard about that but I doubt it. Deflation is horrible. It stops economies from functioning. Your money will be worth more the longer you wait to spend it, so you don't spend it until you need to. No government is going to let deflation happen without something going horribly wrong, which it might be, idk.
Edit: apparently the consumer sector experienced deflation. I believe that means it shrank, not the value of money increased over time, which is what is implied by inflation/deflation without other context. I could be wrong though. Either way, it doesn't look great.
I just wanted to say thanks for explaining this in a way that is helpful to idiots like me.
600+ years of "team white Europe" hooligans and you're going to complain about unsportsman-like conduct now that the camp you live in will likely have its economy decimated by successful decolonial projects and rematriation of stolen wealth?
The US is the last torchbearer of the "may our team beat their team" that led to the deaths of nearly a billion people, the utter subjugation and domination of multiple billions constituting 80% of the world population, and now that the US finally shows signs of being in an unstoppable collapse and China is creating the conditions for a new global social order you want to say "hey everybody, just be nice to each other and realize all countries are probably bad to the same degree and anybody winning is honestly just as good or bad as anyone else winning".
Fuck off
Fuck you right in your ass. I complained that everyone in here is pitching their agenda for their favorite country in the comments and what do you do? Exactly that. Learn to read.
You need to learn to distinguish between sports and real life. In real life, we actually engage in historical and political analysis for the purpose of creating better understanding of how societies work so that we can a put our weight behind a better future. In sports we just pick favorites. If you think the people supporting China are just picking favorites, then you are deliberately ignoring everything that goes against your indoctrination and diminishing it so that you don't have to think and challenge your deeply held beliefs. That's a lot of effort to, ultimately, just watch North Atlantic fascism go on a global killing spree. Either disengage from politics entirely or get gud, noob.
I see the issue. You're on Lemmygrad. So naturally everything has to be pro China, pro communism, and the moment someone says "yeah they all suck equally" you have to lick the boot. Seek a prescription for schizophrenia.
Amazingly salient point. It's clearly schizophrenic to have a political position, research it, and then engage in political debate with ignorant people who believe that their uninformed opinions are not merely worthy of being posted in public but also shouldn't be challenged because they are both valid and even-keeeled.
Of course, that's why I joined Lemmygrad, because I decided that team Red was better than other teams, and team Red fans all go to Lemmygrad where we swap stats and gossip about the players and coaches and we root for the red team to build comraderie, sorry, I mean friendships. And then of course we would show up to say "red team good" like a bunch of schizos any time someone says a bad thing about our team because our entire identity is based on whether our jersey wins the world war.
Your grasp of the situation is, of course, astoundingly clear eyed.
:VOMIT:
Ok, with that out of the way, the only one licking boots here is you. No one wants empire to end more than communists. Empire is the antithesis of communism. If you don't understand that, you're ignorant and just shouting things at people based on vibes.
But when you look at an enemy of empire, or a victim of empire, and you repeat imperial propaganda against them, you are indistinguishable from boot licking imperial settler racists. The empire doesn't ask you to love it. The empire only asks that you hate its enemies. And like a good little soldier, that's the position you hold and express and defend like your life depends on it. When someone says"hey the empire is lying and the enemies of the empire aren't actually that bad", you go into a frenzied rage, rabidly trying to convince them they have a mental health disorder and that they are blindly rooting for a sports team and cannot see reality like you can. But you're just ignorant. You don't have any more information or ability to reason than I do. In fact, you demonstrably have less information than I do. Literally everything you can post about China and Russia not only have I already seen but I have also read a dozen analyses on already.
You have been lied to your entire life. It's time to read a book and see the world and the empire for what it truly is. And no, LemmyGrad is not the one licking boots here. It's the people who think NATO is right to expand and stop the evil Russians from their dastardly deeds. It's the ones who think the US war ships in the South China Sea getting pushed out by China's projection of power are victims of Chinese expansionism. It's the ones who think Taiwan and Hong Kong despite being proxies of imperial powers have legitimate claims to autonomy that they should be allowed to use in service of the empire. All of that is boot licking for the empire. And no, it doesn't matter if you express hatred for the taste, because you keep, fucking, doing it.
The post itself is dumb, so I wouldn't complain about dumb comments
Tbh, I find the hexbears quite refreshing👌
Big fan :)
Brigading isn't a thing, that's the point of federation. Why is it always people who've joined in the last two months making these complaints? Couldn't possibly have anything to do with events on reddit in that time frame could it? 🤔
I had a look cause you made me curious... It's just hippies. "Disassociating from the system will destroy it" "I'm sick of furry porn re-enforcing capitalist ideals" "The only reason you're not a Marxist is that you didn't really 'listen' when you were in college. Wait is Marxism the bad one?"
Doesn't China have a history of repeatedly shattering into a thousand pieces?
Most china can only do it once
And you're from the Permanent Kingdom of Perfect Stability where borders never change powers do not rise and fall?
I'll take that as a yes.
Reading the comments…
Wish I could block an entire instance at once. Is that a thing I can do?
That’s fair. I did not know the background of lemmy.ml or hexbear and I’m certainly learning that users from particularly the latter are somewhat unstable. I just subbed to a bunch of top news communities when I joined Lemmy. That’s on me lol.
If it works for you, good. I did the same for 'politics' which is just us politics. I still look over the fence occasionally though.
Yeah, some of these posts get wild. It's a shame, since the actual communists are cool.
It is interesting seeing the left's version of MAGAts, though.
If you're a fan of genocides and totalitarian regimes then yeah, communists are cool.
On Kbin, individual users can block instances. By going to https://kbin.social/d/**instance.name**
You can't block instances but you can block the lemmy.ml and hexbear.net magazines, which are all tankie hell.
lemmygrad is the tankie one, pls don't block me
I'm gonna keep .ml blocked for as long as they are federated with hexbear, they are annoying as fuck. Also lemmy.ml is super pro-china so it is pretty tankie, might have changed with the reddit migration, but, eh.
It was my impression that lemmy.ml is lemmgrad with a mask on, to pass as somewhat reasonable to the rest of the fediverse. On lemmagrad they just spew their bullshit with no filter.
You're probably right, they probably bought the .ml domain to refer to marxism-leninism .
USA probably exploded an actual bomb somewhere while he said that.
Everyone is, what with climate change. Southern hemisphere? Only metaphorically for now. Northern hemisphere: in most places both metaphorically and literally.
Just two more weeks!
How ironic, coming from the US.
From my vantage China looks like it is in a stronger position
What vantage is that?
Seeing in my lifetime how China replaced the US in many segments here. 20 years ago, even our plugs/sockets were US-spec. Now I am talking to you from my home 5G powered by Huawei https://youtube.com/shorts/Bk7slfSLvvY?feature=share
Here is an alternative Piped link(s): https://piped.video/shorts/Bk7slfSLvvY?feature=share
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source, check me out at GitHub.
Being a Winnie the Pooh simp?
As a Saudi I am more of an MBS simp, it is mandated by law. People in the west really do live in a "yellow scare".
He should be focusing on US economic troubles. No matter how many times he tells us we are doing good everyone sees we are not.
you know it's possible to do more than one thing at a time right
Bro we're like in our third massive recession in 15 years
32 trillion. Just one more. ✨
Only one answer: https://www.youtube.com/watch?v=fCV8O_EkM4w
Here is an alternative Piped link(s): https://piped.video/watch?v=fCV8O_EkM4w
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source, check me out at GitHub.
Holy shit a 1000+ comments
A headline from a more civilized age.
Dude, on lemmy consent is just not as heavily manufactured by capital interest as on other platforms.
Its the absence of bots you're experincing and possibly some withdrawal symptoms.
All good we're here for you, one doesn't get off of propaganda easily
You are a DNC bot.
Hey everyone! This guy is right tho! I can confirm, I'm a ccp bot. You see my maintainers been running low on social credits for some months now. need to earn some yk?
Everyone but me is a bot. If you weren't a bot you'd know that.
Is everyone who disagrees with you a bot with an army of bots?
Get over yourself. Lemmy is neither large enough nor significant enough to attract that kind of attention. Is it that hard to believe that there are different people with different beliefs?
You're the reason democracies in North America are becoming increasingly polarized and radical in their beliefs.
Never underestimate the power of information influence in social circles.
lol
Can we block hexbear.net please?
Why do we keep on looking to build echo chambers? Having discourse is an essential component of a healthy democracy.
Discourse is one thing. Bad faith one-liners is not that.
Communism is the very definition of failure.
Unless you're a genocidal maniac. Then tens of millions of deaths is a complete success.
Anyone know how to block everyone and everything from an entire instance using Sync?
Let's block everyone shattering my Dreamland reality.
Nah just the annoying people.
Can't wait to have the ability to block an instance at a user level on the web version...
Is creating echo chambers really desirable in our current political climate? Democracy is built on a foundation of free and open discourse, not in censoring opinions that we don't agree with. All that does is polarize and radicalize people even more.
It's not about an echo chamber. There are some instances that say the same few things without being reasonable. They're just political slogans and myths with little bearing on reality. If they were reasonable, sure. It'd be fine. They will take things out of context and when you provide context that goes against it they find something else to attack and act like it never happened. It's not useful and just makes it harder to see other things.
The entire principle of reasonability lies on accepting that other interpretations of facts exist. Removing those who question the prevailing interpretation is harmful for democracy, harmful for journalism, and harmful for freedom of speech.
Sure, there are other interpretations. There's also ignoring facts as they stand. That's as harmful as anything else.
Sometimes it's not useful to hear certain opinions. I don't care about the opinion that thinks the covid vaccine makes you magnetic, which they subsequently can't verify. It's not useful and most likely harmful. It makes my experience worse while providing nothing. If I can choose to not have that opinion heard, I will. It is not helping me get a better understanding of the world and is only making my experience worse.
How do you define the usefulness of opinions?
If it's conducive to having a better understanding of reality probably.
The "covid vaccine makes you magnetic" opinion that I used in the example does not. Their beliefs are based in fairy tales and they don't care to question it, or if they do they somehow convince themselves that when it doesn't agree with they're beliefs that they're somehow still right.
Oh, it's not a matter of opinions; I just can't stand Hexbear's ugly emojis polluting my screen.
There's also them assuming that anyone disagreeing with them must be a pro-murica propaganda-guzzling librul, as well as contrarianly shilling for anything that is anti-DaWest™ (or was once communist, if we take some liberties with the term), but that's far less important 🤓
So... It's Lemmy's problem for not exposing control over emoji size? Sounds like a feature that should be pretty easy to add.
It's not so much the size than the spam that I find annoying. It makes comment sections look like a 2003 blog. A size control feature would be welcome though; but what I'd really like is a "Show Custom Emojis" setting, like we have for scores or avatars.
Bro you are way past historically uneducated. Hexbear been with us for a few hundred years.
I think you can do that with an adblocker like ublock: https://lemmy.blahaj.zone/comment/1887301 this was a suggestion for a beehaw user, but you can replace it with your instance.
PS...lol I haven't got it to work yet 😅 , research, try your luck.
I couldn't quite make it work either, but thanks anyway! Hadn't thought about using uBlock for that.
...due to the USA's economic troubles?
He's gotta find someone to blame when the next recession starts.
He can blame himself and his bad economic policies. Pretty simple. Who cares about China anyway?
Yea the person claiming Biden has bad economic policies wants to ignore the second largest economy in the world… 😂
Specifically the economy we rely on as much as our own because our corporations sent all their manufacturing there.
the international corporations are leaving fast.
I hope so. Sending our industry to a foreign country that merely tolerates us will lead us nowhere but straight to hell.
not really, the pandemic boom is over so a lot of manufacturing contraction is happening right now. Product inventories are high and personal debt is also at a high. If the economy took a 180 and boomed again all those chinese factories would be at capacity with US orders. Still no replacement for China yet. Vietnam and India are not there.
More companies are moving there. Some German car companies were reported on this week as having made the decision to leave Germany for China
Don't worry, they won't be outsourcing any more once they bring back child labour... Wish I could add a /s