Why Evergrande Collapsed - Our Chinese Houses Crumbled - On the ground in China

submitted by magnora7 from (youtube.com)

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[–]Node 4 insightful - 3 fun4 insightful - 2 fun5 insightful - 3 fun -  (2 children)

Ah, I was hoping this wasn't their latest video because of them saying the tofu mafia video would be next. And it was. Don't buy food from China, because it may be the same quality as those buildings. Mmmm, tofu made from sewer and toxic metals water.

[–]Foidblaster9000 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

https://www.producereport.com/article/chinese-apple-juice-concentrate-exports-soar-during-first-half-2020

Fruit juice in the US is dangerous territory, considering the export and how frequently juices use apple juice as a base ingredient to many juices here.

https://youtu.be/GYr87XCAa48

They have some pretty disgusting practices, and we certainly can't rely on US government to protect us from any of their handshakes behind closed doors regarding some of this slipping through.

[–]Node 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Bleah. That was a gross watch. I'm going to be even more vigilant in avoiding stuff called food from China.

[–]Gravi 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

It is like in the reign of Mao, they made so much damn steel but in the end it was mostly pig iron, which is practically useless, they just want to compete in the quantity but never the quality, it seems like they never wish to change and they presumably in this way, never will. We expected the Soviet housing blocs to fall apart, but yet they still stand strong and we mostly live in those, you just have to take care of them but here it doesn't matter if you take care of these Chinese buildings, they are going to fall anyway due to faults in the base, a rotten base will never stand.

[–]magnora7[S] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

I think some of the buildings are good quality, but they're just building so many at such a rapid pace, many never even having any intention of being lived in but instead used as a store of value. But if 30% of the buildings are unusable garbage, then that could easily cause a real estate collapse if people are buying assets that won't actually hold their value.

[–]Gravi 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

They do look good at first glance, I do believe you are right, it's mostly for value, for the capital, the money. As the many products the Chinese make, it's mostly rapid, an enormous amount and mainly for money and then comes the real question, will the product hold?

[–]jet199 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I remember in One Day in the Life of Ivan Denisovich many forced labourers putting up buildings in the soviet block were actually skilled and cared about their work more so than the idolised workers who just played the system.