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Korean and Chinese family names have only one syllable.
not so,the Chinese has SE TO,AU YEARN which are 2 syllables/
I suspect these are original non Chinese names and they become Chinese,there are ethnic minorities in Western China.
China still doesn't give a flying F about the international. One very basic reason no one gives a flying F about the Yuan. Any international concern in there knew all long the inherent risks of doing business in China. In my case I'm thinking my last bet there was back in the '90's.
So all those individuals and families with RE wealth in China. I presume that most homes are bought with a mortgage loan as here. If those lenders go under, as here, they get sopped up by larger entities at discount prices. And then central moneys if the S really hits the fan. I don't think the home owners themselves are at some risk. Unless this current whole snafu somehow lowers the general value of RE.
Evergrande is publicly traded in HK ,wonder who is the auditor,I know it may not be cooking its books,but issuing all these commercial bills to suppliers ??
Chinese parents have been helping their kids to buy a home,like a down payment.
Chinese households do have savings,more than $400 US,so economist David Rosenberg should be proud of them,they also have gold.
But all the savings plus gold pale compared to the outstanding mortgage of their home.
Back then it is not uncommon for Chinese to pay cash for their homes,they will sleep in tiny apts,sweat in front of an electric fan (instead of A/C) and gnaw on some pig feet,chicken feet,beef tripe so they can save to pay for a home,of course home price was a lot more affordable then !
China still doesn't give a flying F about the international. One very basic reason no one gives a flying F about the Yuan. Any international concern in there knew all long the inherent risks of doing business in China. In my case I'm thinking my last bet there was back in the '90's.
So all those individuals and families with RE wealth in China. I presume that most homes are bought with a mortgage loan as here. If those lenders go under, as here, they get sopped up by larger entities at discount prices. And then central moneys if the S really hits the fan. I don't think the home owners themselves are at some risk. Unless this current whole snafu somehow lowers the general value of RE.
I agree that they care little about international other than their reputation. To them, the real risk is it makes RE harder to transact and could potentially lower the value of the average property.
China still doesn't give a flying F about the international. One very basic reason no one gives a flying F about the Yuan. Any international concern in there knew all long the inherent risks of doing business in China. In my case I'm thinking my last bet there was back in the '90's.
So all those individuals and families with RE wealth in China. I presume that most homes are bought with a mortgage loan as here. If those lenders go under, as here, they get sopped up by larger entities at discount prices. And then central moneys if the S really hits the fan. I don't think the home owners themselves are at some risk. Unless this current whole snafu somehow lowers the general value of RE.
The real problem is that millions gave Evergrande all their savings in anticipation of their homes that now will never get built.
The other thing? It's not people buying their homes. It's people buying second and third homes as investments. In 2019, something like 87% of all home sales were for second or third homes purchased in anticipation of being long-term investments. Yet with China's demographic collapse, those omes will literally never get sold. So colossal amounts of money were put into a worthless investment.
I agree that they care little about international other than their reputation. To them, the real risk is it makes RE harder to transact and could potentially lower the value of the average property.
Could very well be. Like here post 2008. They will see relief via central moneys, and it will all recover and then start heading back up. IMO of course.
The real problem is that millions gave Evergrande all their savings in anticipation of their homes that now will never get built.
The other thing? It's not people buying their homes. It's people buying second and third homes as investments. In 2019, something like 87% of all home sales were for second or third homes purchased in anticipation of being long-term investments. Yet with China's demographic collapse, those omes will literally never get sold. So colossal amounts of money were put into a worthless investment.
Good points. I have no idea what protection these investor have with their deposits. More central money relief might be in the works, unless their gov't decides that they want to discourage this sort of investing and gross over building. And IMO they actually are heading that way.
Our problem is that we lack focus, purpose, a core mission, and drive to achieve.
The American dream used to be a manifestation of what we drove to achieve as a nation. That has been lost over the last 30 years with more government handouts and reduced standards of our education system. Along the way we have become a nation with our hands out for something free and not asking we can lend a hand to make something better. As American corporations have sold out our middle class by offshoring our manufacturing base we have retrained our workforce for the challenges ahead. Some of that is you simply can't turn an out of work coal miner into a software engineer.
Additionally we have a government that has created poor incentives to us killing us one handout at a time. Our healthcare infrastructure costs to much as does our education system. These three things at one point were an asset to us now they liability.
Our problem is that we lack focus, purpose, a core mission, and drive to achieve.
The American dream used to be a manifestation of what we drove to achieve as a nation. That has been lost over the last 30 years with more government handouts and reduced standards of our education system. Along the way we have become a nation with our hands out for something free and not asking we can lend a hand to make something better. As American corporations have sold out our middle class by offshoring our manufacturing base we have retrained our workforce for the challenges ahead. Some of that is you simply can't turn an out of work coal miner into a software engineer.
Additionally we have a government that has created poor incentives to us killing us one handout at a time. Our healthcare infrastructure costs to much as does our education system. These three things at one point were an asset to us now they liability.
You have this completely wrong. Instead, it was the result of bipartisan efforts to create an economic system that practically begged manufacturers to send American jobs overseas. From punitive corporate tax rates and regulation to free trade agreements, Republicans and Democrats were equally complicit, beginning with the Bretton Woods Agreement onward.
Manufacturing jobs used to be far more plentiful, which meant working class Americans could earn a good living.
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