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CAPS LOCK BROKEN
Feb 1, 2006

by Fluffdaddy

ReindeerF posted:

I'm a quasi-conversationally fluent white guy who goes out of his way not to overstate my expertise on the countries I live and travel in, so I sympathize with the eye-rolling at the fly-by jackasses. Still, when was the last time you saw Chinese media send a white English speaker to America? There are plenty of American journalists of Asian descent in Asia and I'm guessing the same goes for Europeans of Asian descent. Just a couple of years ago some of them got detained in North Korea trying to sneak in and report a story. Kristof has made a career off of glomming on to all kinds of issues all over the world, including Africa, because he's Kristof. This is one of the reasons I respect AJE over places like the NYT. They tend to find culturally attuned, often local reporters to do the work. Still, the world isn't perfect and the fact that we have even a large smattering of journalists from the West who even speak the language and understand the culture is fantastic. Unfortunately, the big name outfits are more interested in building branded personalities than reporting.

Yeah no, there is no reverse racism going on here noted expat ReindeerF. Also where the hell outside of Hong Kong are you going to find journalists of European descent in China? The burden rests on America precisely because this country is ostensibly a multiracial and multilingual nation.

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G. Hosafat
Apr 16, 2003

:m10:
To anyone that watched the 60 minutes story last night, was there anything particularly wrong that stood out to you? I've seen the bubble-burst warnings in the news for a while now, but there was still some surprising information in the broadcast. I'm probably wrong about the exact statement, so somebody please correct me, but they said that 20-30% of economic activity is tied to the real estate bubble.

Fangz
Jul 5, 2007

Oh I see! This must be the Bad Opinion Zone!

G. Hosafat posted:

To anyone that watched the 60 minutes story last night, was there anything particularly wrong that stood out to you? I've seen the bubble-burst warnings in the news for a while now, but there was still some surprising information in the broadcast. I'm probably wrong about the exact statement, so somebody please correct me, but they said that 20-30% of economic activity is tied to the real estate bubble.

Citation needed.

The figures I've seen are closer to an estimate that 20-30% of *growth* is related to the real estate bubble. Having that large a share of GDP seems implausible.

Ardennes
May 12, 2002
If anything I wish someone produced a flow chart to show all the moving parts in this equation, since national banks, the national government, the local government, developers, the middle class and working poor seem to be all tied together.

I wonder how much of construction is fueled by speculation by just the middle class, or the wealthier party-tied elite but ultimately you only get bits and pieces of what is going on in the Western media.

If everything collapses who is the ultimate fall guy besides peasants/working poor in this case? In the United States, it was the federal government that had to fail out the big banks. In China, there are national banks who very different but are basically the "commanding heights" of the banking industry? I seem to remember the national banks don't do much direct lending at all, but is it local governments that do it?

Besides the economy taking a massive hit (construction is going to stop which means unemployment, and consumer spending is going to go down because the middle class is going to be wrecked), who is going to be absorbing the losses if developers just completely fold? There are going to be titanic losses that have to be passed along somewhere.

Ardennes fucked around with this message at 19:43 on Mar 4, 2013

Volkerball
Oct 15, 2009

by FactsAreUseless

Fangz posted:

Citation needed.

The figures I've seen are closer to an estimate that 20-30% of *growth* is related to the real estate bubble. Having that large a share of GDP seems implausible.

I posted the video on the last page. The quote is at 2:50. The way he phrases it doesn't seem out of line.

Ardennes posted:

If everything collapses who is the ultimate fall guy besides peasants/working poor in this case?

The government from the sound of things. There were severe protests in reaction to the ruling that each person could only buy one apartment. A bubble of this scale popping might just blow the Arab Spring to the east. Bout that time of year.

Volkerball fucked around with this message at 19:53 on Mar 4, 2013

Ardennes
May 12, 2002

Volkerball posted:

The government from the sound of things. There were severe protests in reaction to the ruling that each person could only buy one apartment. A bubble of this scale popping might just blow the Arab Spring to the east. Bout that time of year.

In this case, I would assume the central government would marshal every resource possible to capitalize new loans since they need more construction to keep economic growth up. While the central government has vast foreign currency reserves, it can't borrow against the Yuan and I don't know if they could honestly use those reserves in a pinch or if they would be enough of a back stop.

That leads to one scary option, that the PRC would turn to the IMF and I think we all know how problematic that is.

hitension
Feb 14, 2005


Hey guys, I learned Chinese so that I can write shame in another language

Peven Stan posted:

Yeah no, there is no reverse racism going on here noted expat ReindeerF. Also where the hell outside of Hong Kong are you going to find journalists of European descent in China? The burden rests on America precisely because this country is ostensibly a multiracial and multilingual nation.


I dunno about NY Times but Reuters' Beijing head is a Chinese-Filipino American at least...

I don't know a lot about journalism but in academia at least, you see a similar trend of old white guys but the up and comers are much, much more diverse in terms of gender, ethncity, national origin etc.

TyroneGoldstein
Mar 30, 2005

G. Hosafat posted:

To anyone that watched the 60 minutes story last night, was there anything particularly wrong that stood out to you? I've seen the bubble-burst warnings in the news for a while now, but there was still some surprising information in the broadcast. I'm probably wrong about the exact statement, so somebody please correct me, but they said that 20-30% of economic activity is tied to the real estate bubble.

I'm not an expert on China, but from my background in Finance, by the time they showed those half completed towers in Tianjin, I just couldn't do anything but gawk. The signs are all there for a...I don't think it would be just a liquidity crisis..just something completely more epic.. the likes of which I don't think we could even conceive of.

Its just amazing to me that the Chinese middle class would keep buying them. Its a losing proposition to anyone who's studied the average wages for a person that could be interested in buying property.

The whole situation is untenable.

RocknRollaAyatollah
Nov 26, 2008

Lipstick Apathy

Peven Stan posted:

Yeah no, there is no reverse racism going on here noted expat ReindeerF. Also where the hell outside of Hong Kong are you going to find journalists of European descent in China?

CCTV's English channel has a number of European reporters.

I live in Zhengzhou, the city in the video. They exaggerate a bit but most of what they say is true. The CBD, which is on the edge of the city, is a ghost town. There are some stores and restaurants on the edges of the district but nobody actually lives there. It's apparently been like this since 2010 and the prices keep going up.

Some Guy TT
Aug 30, 2011

CIGNX posted:

Do you have examples of this or can you elaborate more on this? I've seen expats who do the fetishization, but I can't connect the "malevolent feelings while justifying their own privilege" to something I've seen before in expats.

What finally made me swear off Korean-expat blogs altogether was a very explicit case of this. Some guy made a comment on a blog (which I had never seen referenced outside this one event) being critical of white guy - Asian chick relationships because of the way Asian women are fetishized in Western media. A giant dogpile ensued where all these other writers from more well-known blogs addressed his comments on their own blogs. They were extremely offended by the perceived anti-White racism in his comments, and where they did acknowledge his broader point, it was pretty much as a footnote so they could devote more time to "all racism everywhere is equally wrong," with copious complaints about how mean Korean culture is to White people because some Korean people somewhere express less than a 100% awesome reaction to Korean women dating men who don't even speak the language. One in particular really disgusted me, as part of his rebuttal was literally a picture of his attractive Asian wife flipping the bird while holding a sign that said "gently caress you".

The irony about these kinds of people is that they're politically liberal- the guy with the bird-flipping wife identifies as a feminist. But absolutely nothing inspires their rage so much as the suggestion that they benefit from their ethnicity. They often avoid discussing racism against any other ethnic groups even though it would be a much stronger argument simply because it would make it painfully obvious how easy we have it when compared to non-Westerners. It's also worth noting that the commenter who provoked all this was actually Asian-American. Actual Asians don't normally visit these sites, and when they do they don't stick around long.

I don't want to link it because it was spread over so many sites, and also it was this horrible discussion that no one should ever have to read under any circumstances. If someone had tried to make an SA thread on the subject it would have been gassed within the first day. Sorry for the long not-China related post but it's a good question and I doubt the ones in China are much different.

Modus Operandi
Oct 5, 2010
The severity of the bubble must be significant because there's a lot of Chinese fob cash buyers in CA buying 2-3 half million dollar houses at a time and dumping all their relatives here. If they can swing that sort of dough and the upper-middle crust are going out of their way to avoid it by going out of country then there must be little value in Chinese real estate these days. I bet it's sort of like major real estate in Thailand..it's the playground of the very rich who are usually gambling with other people's money buying and flipping over and over again until it all blows up. I do think the banking system in China is well aware of this and they have been trying to keep a lid on the easy liquidity for the past couple of years.

Modus Operandi
Oct 5, 2010

Some Guy TT posted:


The irony about these kinds of people is that they're politically liberal- the guy with the bird-flipping wife identifies as a feminist. But absolutely nothing inspires their rage so much as the suggestion that they benefit from their ethnicity. They often avoid discussing racism against any other ethnic groups even though it would be a much stronger argument simply because it would make it painfully obvious how easy we have it when compared to non-Westerners. It's also worth noting that the commenter who provoked all this was actually Asian-American. Actual Asians don't normally visit these sites, and when they do they don't stick around long.
The sort of dirtbag expat i've encountered are usually not liberal at all they would fit right in with paleo-libertarians or the tea party. The sort that would not even talk with you like a normal person if you're not exclusively white and male. These types usually bitch about white women non stop too though, heh. Then again the typical expat in Thailand is usually older on average 40+, divorced, and either made a conscious decision to relocate out of some bitter event or one of the "lucky" (unlucky for the rest of us) multinational package guys. The attitudes you mentioned in that Korean blog is true in general for a lot of expats in Asian countries. There's just a strong sense of entitlement and righteous indignation and serious racism.

Not all expats in asia are like this of course but a really high percentage are. It's pretty easy to figure out what the attitudes are when they initially mistake you for a local too or just casually listen in on what the side bar conversation is.

Ardennes
May 12, 2002

Modus Operandi posted:

The severity of the bubble must be significant because there's a lot of Chinese fob cash buyers in CA buying 2-3 half million dollar houses at a time and dumping all their relatives here. If they can swing that sort of dough and the upper-middle crust are going out of their way to avoid it by going out of country then there must be little value in Chinese real estate these days. I bet it's sort of like major real estate in Thailand..it's the playground of the very rich who are usually gambling with other people's money buying and flipping over and over again until it all blows up. I do think the banking system in China is well aware of this and they have been trying to keep a lid on the easy liquidity for the past couple of years.

I think they have tried, and when things start really slowing down they back off and turn the faucets back on. Obviously, many officials in high positions in China realize that construction has been untenable for a while, but there isn't any way to resolve it easily while keeping growth high. Also, I think there is a real worry of mass default or simply unpaid debts from all these projects that have been passed a long.

Granted, I don't know how much it has been split between local governments, state banks and developers but obviously most of the iceberg worth of debt is below the surface somewhere since all these projects had real costs and their current values are only on paper. It is very difficult to predict because the central government's most important object is to keep the show going on as long as humanly possible.

That said, Japan tried to do that as well.

GuestBob
Nov 27, 2005

Pulling about half of this out of my rear end: once the global economy starts to warm up again the pace of new construction in China is going to slow substantially. The construction industry was used as a way to keep money circulating at pace during the last few years and when exports pick up again there'll be more security for the government.

It will leave alot of people holding on to empty flats though.

Roll on 2049.

Deep State of Mind
Jul 30, 2006

"It was a busy day. I do not remember it all. In the morning, I thought I had lost my wallet. Then we went swimming and either overthrew a government or started a pro-American radio station. I can't really remember."
Fun Shoe
I love real estate bubbles. I love watching them burst. I love telling speculators and real estate agents in Hong Kong how this exact thing happened in America in 2008. I love hearing their excuses.

I'm going to love the vindication when it all goes down. Then I'll buy a couple floors of some of these luxury condos and make a sky mansion. That'll be fun.

I wish I could say I knew where the top of the bubble was. It certainly feels like we've gotta be close to it in Hong Kong, the way prices are. But I maintain that a huge part of this is mainland official corruption, and the market is going to be buoyed by that for as long as it's

A. As easy as it is to get away with right now
B. Ideal to put money into real estate as a hedge against inflation
C. Difficult/inconvenient to move money out of China

But once it bursts, oh boy is there going to be huge money to be made in the cleanup.

The Great Autismo!
Mar 3, 2007

by Fluffdaddy
I pretty much hate all of the expats here except for a select few. I've got a small group of mates, that's good enough for me, all of the other horrible expats can do whatever the hell they please as long as they don't tell me about it. I keep to myself mostly, and spend time with my Chinese friends or foreign friends. I think I only have one or two friends that are English teachers...the rest all work for Spanish or German companies, or are studying Chinese.

I'm sure we all have awful expat stories that we could pass around, but I'd guess they'd all be the same. That or they'd be about you.

caberham
Mar 18, 2009

by Smythe
Grimey Drawer
Rich people can afford to flip houses and pay real life monopoly because mortgage payments mean nothing to them. Even if they lose the game when the bubble deflates, they can just hold onto another 10 years and wait for inflation to take its course. It will be like having a new holiday home or some rental property. Bloodnose likes to snicker when I say this but Hong Kong is a parachute place for rich mainlanders and with the appreciation of the Yuan, buying anything in Hong Kong seems like a steal when everything is 20% off. And even if China crashes and burn, there is a notion that HK will be a "safe haven" for the rich to funnel their money. Heck, mainlanders are so freaking rich with their mysterious money that they use to buy a flat in Hong Kong as a locker for their shopping trips :wtc: As long as Hong Kong dollar is pegged to the USD, and the US Fed does quantitative easing, Hong Kong's prices will float up for a while. It might not spiral up, but it will sure as hell float, especially with the artificial supply of land.

But thankfully, that was more of 2008 thing, it's funny to say this but year after year mainlanders are not as trashy as before. Sure you can still see dudes fully dressed in designer label clothing yet squatting down and hunching their shoulders like a troll while smoking nasty cigarettes, but there is a small minority emerging from the masses. They are chasing other goals besides material wealth. Looking into social issues, art, culture, health, self nurturing all that jazz.

The people who lose the most are the middle classes, or those who just got a new hot job and want something fancier. I knew a guy who got a job in Morgan Stanley and within 2 years he started buying a Porsche and wants to live large in a fancy high rise apartment. Then came 08, he lost his job and he had to fofeit his down payment and everything :( Yes, houses are definitely over priced but one thing I would like to take note is China's (lack of) urban planning. You really don't see "white flight" or "urban flight" to the suburbs. There really isn't much of a urban decay. Zones either turn into generic lifeless fake historical tourist districts like the gazillion style suzhou places, or rebuilt fake hutong in Beijing. Or the dirty, poor housing in the city centre just gets demolished and you get massive subway lines and new developmental condos on top of the stations to prop up land value (thanks Hong Kong MTR, you really taught China all the horrible real estate business practices). It's the dead malls and empty land in the suburb which is a real joke, but I think prime land in the city centre can still be a prize.

Deep State of Mind
Jul 30, 2006

"It was a busy day. I do not remember it all. In the morning, I thought I had lost my wallet. Then we went swimming and either overthrew a government or started a pro-American radio station. I can't really remember."
Fun Shoe
Yeah but wait till the Fed jacks up interest rates. That's the other hilarious side of Hong Kong not controlling it's monetary policy. Mainlanders dump money here, sure. But there are also plenty of idiot middle to upper middle class people here who think prices go up forever. They take out adjustable-rate mortgages (SOUND FAMILIAR, AMERICANS?), in fact fixed-rate mortgages are almost unheard of in HK, because they think they need to get on this train now or they'll never be able to own homes. Because wages have been stagnant here for a decade (they've gone up like 9% in the last decade, compared to 30%+ inflation), a lot of new buyers are using their parents' money for down payments. Until recently, banks were allowed to give mortgages to people who would use more than half their income to make payments. Even now, the amount is 40%.

It's madness. And it's almost exactly what happened in America that led to the big crash. The thing is, America could drop its interest rates to try to deal with this stuff. Hong Kong can't. When the Fed jacks up rates, roughly one billion Hong Kongers will be underwater on their mortgages. Sixty billion if (when) housing prices crash.

Mainland money can only buoy so much. They aren't actually that much of the market. They're just exacerbating the madness and providing a talking point for the real estate agents: "OF COURSE YOU SHOULD MAKE THE DOWN PAYMENT, SOME MAINLANDER WILL COME BUY IT FROM YOU FOR TWICE THE PRICE BEFORE THE DEAL IS EVEN DONE LOL."

VideoTapir
Oct 18, 2005

He'll tire eventually.

Ardennes posted:


If everything collapses who is the ultimate fall guy besides peasants/working poor in this case?

In the United States the working poor were being handed loans like they were candy. I'm not sure that's the case in China, and most of them, if they're buying houses, aren't buying them in the major cities. They won't be the convenient scapegoat for assholes that they were in the US.

GuestBob posted:

Pulling about half of this out of my rear end: once the global economy starts to warm up again the pace of new construction in China is going to slow substantially. The construction industry was used as a way to keep money circulating at pace during the last few years and when exports pick up again there'll be more security for the government.


The Chinese labor market (in terms of "gently caress you, unions, they'll work for your beer money and don't complain about repetitive motion injuries") is close to tapped out. A property market collapse would free up some workers, but they're not going to see growth like the last 20 years. Rising Chinese wages make Indonedia, India, Malaysia, etc. more attractive.

http://www.forbes.com/sites/timworstall/2012/07/24/now-apples-manufacturing-is-leaving-china/

Also you're assuming the west will start buying crap again.

VideoTapir fucked around with this message at 03:47 on Mar 5, 2013

Deep State of Mind
Jul 30, 2006

"It was a busy day. I do not remember it all. In the morning, I thought I had lost my wallet. Then we went swimming and either overthrew a government or started a pro-American radio station. I can't really remember."
Fun Shoe

VideoTapir posted:

In the United States the working poor were being handed loans like they were candy. I'm not sure that's the case in China, and most of them, if they're buying houses, aren't buying them in the major cities.

They are in Hong Kong!

Except they're not the 'poor' here. They're the middle to upper middle class. Still way too poor to afford homes here though. People making 30-60k US a year.

I mean if I tell you a family of two with an annual income of $45,000 should probably not buy a home that costs $1.5 million, you'd probably say something like "loving, duh. Stop saying obvious poo poo, you obvious poo poo."

This is not what people say in Hong Kong. They say "Yep you'd better hurry up and buy that house before it costs $2 mil!!!"

VideoTapir
Oct 18, 2005

He'll tire eventually.

Bloodnose posted:

I mean if I tell you a family of two with an annual income of $45,000 should probably not buy a home that costs $1.5 million, you'd probably say something like "loving, duh. Stop saying obvious poo poo, you obvious poo poo."

Well, NOW, yeah.

Ardennes
May 12, 2002

VideoTapir posted:

In the United States the working poor were being handed loans like they were candy. I'm not sure that's the case in China, and most of them, if they're buying houses, aren't buying them in the major cities. They won't be the convenient scapegoat for assholes that they were in the US.

Granted, the working poor in China ultimately rely on construction and consumer consumption in order to get their meager wages. I guess you could just tell them to move back to the village but an actual deep recession would put a lot of people with not much money out of work. Also, consumer/food prices are always sticky so drastically reduced wages/mass unemployment will be problematic.

Ultimately, the People's Bank of China has reserves of 3 trillion, which is a substantial amount of money (even in regards to the extend of the future crisis) but who knows what that actually means. The Chinese banking system seems very opaque and it is difficult to get a hold on exactly how much money is owed and by whom. (If anyone has any info on this, feel free to share).

If I had to guess, I think property prices in HK/Macao will probably stay elevated just by virtue of the SARs acting as sort of a grey-market conduit. If a real crisis happens, I suspect there will be a lot of mainland officials that would like to move their assets in a more "secure" location that is also far more open to international finance. I think as long as the Mainland sees Hong Kong (and Macao) as a way to secure their gains, I think it is going to be hard for people who actually live there.

Arglebargle III
Feb 21, 2006

Bloodnose posted:

Yeah but wait till the Fed jacks up interest rates.

You have a long time to wait before interest rate armageddon then, if American fiscal policy keeps going the way it does. Bernanke won't dare raise rates with the government cutting the goddamn budget year after year because it's the "responsible" thing to do. The private sector isn't doing too terribly as the President said (badly) last year, but the fiscal drag is going to continue for the foreseeable future because the Republicans locked themselves into the House with redistricting shenanigans.

GuestBob
Nov 27, 2005

Ardennes posted:

The Chinese banking system seems very opaque and it is difficult to get a hold on exactly how much money is owed and by whom. (If anyone has any info on this, feel free to share).

I remember being surprised when I first saw this:

Wikipedia posted:

Non-performing loans

At the end of 2004, 19.1% of ICBC's portfolio consisted of non-performing loans. In order to clean up ICBC's balance sheet and prepare it for overseas listing, the Chinese government orchestrated a series of capital injections, asset transfers, and government-subsidised bad loan disposals that eventually cost more than US$162 billion. This included an approval for a cash injection of US$15 billion (financed from China's massive foreign exchange reserves) on 28 April 2005. The Beijing-based state company, China Huarong, helped ICBC dispose of its bad loans. As the 2005 annual report records, just under 5% of loans are classified as non-performing, in comparison with the majority of western banks who have lower NPL ratios (US commercial banks around 1%).

Western banks ain't the only ones who need government help it seems.

caberham
Mar 18, 2009

by Smythe
Grimey Drawer
Was just reading the economist guide book "Doing Business in China". What does China do with its bad lones? It just packages the debt packages and sells it off to some magical asset dealing company. Sometimes, financial transactions are just really really shady. If the stock market ever goes haywire, the government can just put a price ceiling or price floor on prices, or just stop the index. Heck at least in Hong Kong the Monetary Authority just dumps money into the market to maintain market stability.

Since we all love to talk about housing crisis, bad debt, shady government deals. Enjoy a slice of cyberpunk shoebox freedom land Hong Kong. Recently there was a news report of people sub-sub-sub letting luxurious apartments. Fancy rich people private housing is located in the heart of the city centres, but 1000 squarefeet with 2 bathrooms is just too much wasted space for a single household. So what to do? Chop it up, add a wall, double the tenants. The housing is marketed as "upper class, chopped rooms" 豪宅劏房. Yep, even fancy housing needs to get chopped up because land in HK is just too expensive.




Best part of this story is that the person coming up with this idea is not the land lord. He's doing it to pay for his mortgage.

To me as a privileged person wondering out loud - If housing is so expensive, and people like living in chopped up rooms, why not pay the same amount and share with one room mate so that everyone gets more space? By adding more artificial walls, you lose out on a lot more space :iiam: I suppose sharing with strangers is just a hassle and people rather have their own places?

Now back to something more dire.

Photos from society of community organization. http://www.soco.org.hk/artwalk2009/index.htm



cagemen posted:

"In the old days, the life of a hawker was easier. I sold all kinds of animals' entrails and fish balls!" When he reminiscences about the golden years of a hawker's life, Jiang Shaojiu always becomes excited; however, the entire hawking business began to decline after the Hong Kong government stopped renewing hawker's licenses in the 1980s.

Due to his lower income, Jiang moved to cage home accommodation and now suffers from the bites of bedbugs. The place in which Jiang lives has no kitchen and all the residents must buy take-away food. Jiang, himself, only eats twice a day so he can save money - when he feels hungry, he can only imagine the happier days of his hawker's life.

Since blood nose did cover about the cagemen, they recently did a new photo op. It's pretty creative and is a top down mosquitoeagle eye view of each house.

http://www.fastcodesign.com/1671933/think-your-homes-small-look-at-hong-kong-s-illegal-microapartments#2

This is a website linking to the original photos from the society.



But those are considered "big". Smallest ones are coffin style - hey you get privacy :thumbsup:

https://www.youtube.com/watch?v=qKf08vWTkKA

*****

Shower/bathroom is probably right next to the kitchen. Yeah, just found another English documentary. It's more in detail and shows how people live.

https://www.youtube.com/watch?v=HU4jjdRzy3w

So why is the government not doing anything to alleviate the situation besides the usual line "GET IN LINE"? In more reduced terms, it's to avoid people from abusing the system. lovely housing situation is not a new thing to Hong Kong's history. During the 50's when the shanty towns burned down, the government made cheap "temporary housing" (for 55 years) and tried to move all the homeless people into public housing. Or people lived in chop-shop housing where a room is just divided into sections with a wooden board. Times were tough for everyone and my mom lived with 12 other people in 600 square feet. But "everyone was poor and could bootstraps their way into a private home" so living in a shoe box was considered ok. When the population is swelling from the touch base immigration policy until the early 80's, there were still people who left in the old urban areas. To fast track into public housing, families moved on purpose from the urban areas to wooden makeshift housing in the fringes. Lo and behold, they got settled in too. However, the wooden shacks still exist and the people who moved to public housing in turn rented the shacks to illegal immigrants.

I'm not exactly sure how the story goes from then on, but think the government just got tired of people appealing to humanitarian grounds and got fed up with poor people. Plus by the 80's, most people have settled into sub urban government housing. HK has become a financial center for professional white collared folk or a play ground for real estate speculation instead of a cheap manufacturing base (where they need to treat poor people well to avoid mass riots and another cultural revolution fiasco in Hong Kong).

Apparently, there's even stacked coffin style housing - It‘s like capsule hotels but on a permanent basis :suicide:



I know China isn't much better for housing right now, but talking to random mainlanders, 70 square meter (700 square feet) is considered the standard size for a single person. Geeze, in Hong Kong that's fancy housing for a family of 5. I do love this city, its fast internet, and relative freedom but I really want move to China. But Beijing/Shanghai has horrible air and slow internet :smith:



caberham fucked around with this message at 16:44 on Mar 6, 2013

hitension
Feb 14, 2005


Hey guys, I learned Chinese so that I can write shame in another language
Man I love tiny apartments but that video gives me claustrophobia every time. Where is the shower?!

kenner116
May 15, 2009
Down the hall and to the left. Can't miss it.

There is probably a community bathroom for each hall or floor.

VideoTapir
Oct 18, 2005

He'll tire eventually.

caberham posted:


To me as a privileged person wondering out loud - If housing is so expensive, and people like living in chopped up rooms, why not pay the same amount and share with one room mate so that everyone gets more space? By adding more artificial walls, you lose out on a lot more space :iiam: I suppose sharing with strangers is just a hassle and people rather have their own places?

This is exactly it. It's why an acquaintance of mine (in Beijing) moved from a big apartment open shared with like 7 or 8 other people to a subdivided room less than 4 square meters. Except it was less hassle and more violent physical conflict.


quote:

I know China isn't much better for housing right now, but talking to random mainlanders, 70 square meter (700 square feet) is considered the standard size for a single person.

Where is that? Christ, that'd be big for one person in Arizona.

Pro-PRC Laowai
Sep 30, 2004

by toby

VideoTapir posted:

This is exactly it. It's why an acquaintance of mine (in Beijing) moved from a big apartment open shared with like 7 or 8 other people to a subdivided room less than 4 square meters. Except it was less hassle and more violent physical conflict.


Where is that? Christ, that'd be big for one person in Arizona.

Um, like everywhere. The tiny apartments are usually only starter apartments and unless there's some great deal that they want to trade up for, it's far more common to just hang onto the first one, rent it out and get another one that has enough space to raise a kid in. The other tiny apartments near schools and whatever are not intended for actually living in anymore, they are to secure access to better schools.

Tiny little apartments are basically for the non-residents looking to maximize savings. The vast majority of hukou-resident families own their own homes with the exception of those who transferred their hukou in like, the past 10 years or so. Other reasons to rent is when the residency is temporary or at least not planned to be long-term in the first place.

Throatwarbler
Nov 17, 2008

by vyelkin
Ugh. Real estate is the most boring subject.

WarpedNaba
Feb 8, 2012

Being social makes me swell!

Throatwarbler posted:

Ugh. Real estate is the most boring subject.

Who'd buy that, Voodoo practitioners?

Mc Do Well
Aug 2, 2008

by FactsAreUseless
http://www.voanews.com/content/north-korea-prepares-public-for-potential-conflict-with-south/1616568.html

North Korea is threatening the nullify the US/SK Armistice on March 11th, which happens to be exactly when the administration change in China is finalized.

Deep State of Mind
Jul 30, 2006

"It was a busy day. I do not remember it all. In the morning, I thought I had lost my wallet. Then we went swimming and either overthrew a government or started a pro-American radio station. I can't really remember."
Fun Shoe
The Saga of Chinachem and Nina Wang will never die.

Tony Chan is now born-again Christian Peter Chan.

SCMP posted:

Weeks before appearing in court to face forgery charges, former self-styled fung shui master Chan Chun-chuen has renounced geomancy for Christianity.

Chan was baptised at the Crossroad Community Baptist Church in Tsing Yi on Tuesday, after changing his name from Tony to Peter to symbolise a new life.

"This is the happiest day in my life," Chan told a radio host. "It felt like getting married, and I could tell everyone that I am a Christian."

This is the happiest day in my life. It felt like getting married, and I could tell everyone that I am a Christian
He also turned his back on geomancy, describing it as the work of the devil.

Charged with forgery over a purported will that he said left him the entire fortune of billionaire Nina Wang Kung Yu-sum, Chan said he was not afraid of going to jail: "Since I have received the greatest salvation … other things don't matter to me any more."

He will stand trial on April 22 while also facing claims of more than HK$430 million in unpaid taxes and legal costs.

Chan told Commercial Radio yesterday that the turning point came in March last year, when his Christian driver Henry Tam quit and gave him a Bible.

"When I held on to that Bible, I felt like paralysed … and warmth in my heart … so I asked Henry, 'can I have a meeting with a pastor?'" Chan said.

That was how he met Lam Yee-lok, who together with another pastor explained Christianity to him.

Chan claimed to have been fung shui adviser and boyfriend of Wang, late head of property developer Chinachem and one of the world's richest women, after she died of cancer at 69.

He challenged the Chinachem Charitable Foundation's claim to the estate under a 2002 will, saying a 2006 document gave the fortune to him. But a court ruled in 2011 that his document was a fake.

Rejecting fung shui, he said that if an adviser's prediction did not come true one might lose a few thousand dollars.

"But you have to be especially careful if they come true, because by creating such effects, the devil's motive is to lure people towards him,"
he said.

Chan, whose claims to have been Wang's lover made headlines, expressed regret at not having been a good husband.

About 70 friends and relatives attended the private baptism on Tuesday, including Chan's wife, Tam Miu-ching, who said her husband made "some progress".

"He has changed, becoming quieter, happier, and less agitated," Tam said. "We are more harmonious now, as he is spending more time with the kids."

WarpedNaba
Feb 8, 2012

Being social makes me swell!
Aw. Christianity doesn't have the same oomph as tasteful furniture arranging /sincere

Deep State of Mind
Jul 30, 2006

"It was a busy day. I do not remember it all. In the morning, I thought I had lost my wallet. Then we went swimming and either overthrew a government or started a pro-American radio station. I can't really remember."
Fun Shoe
Here's an interesting article about Mao Zedong's apparently retarded grandson, Major General Mao Xinyu.

Could Harvard be on the cards for the great grandchildren of China's revolutionary leader Mao Zedong? posted:


Granted, they are currently still 10 and five years old. But their father, PLA major general Mao Xinyu, said he would be open to the possibility of his children studying abroad. Mao Xinyu is one of the founding leader's four grandchildren, and the only one fathered by a son.

“We won’t stop them from studying overseas providing they are willing and capable,” Mao Xinyu said of his son, 10, and daughter, 5, on People’s Weibo, a state-owned microblogging service similar to the more popular Sina Weibo.

Mao Xinyu, a military researcher and a member of the Chinese People's Political Consultative Conference, was in Beijing this week to attend the annual parliamentary meetings, where he is a media favourite - known for his off-the-wall comments and comical behaviour.

His remark about his children is the latest to draw the attention of journalists, who every year chase down the chubby major general in hopes for a good quote. Once in 2010, he was followed around Tiananmen Square for so long that he forgot where his car was parked. Disoriented, he left reporters with only one word about the parliamentary sessions: "Good."

His oddball persona is often the subject of ridicule on Chinese social media.

He was said to be "talking nonsense" about China's housing crisis and health care reform during an interview with Phoenix television.

Under a video of the interview, one sarcastic commenter posted: "General Mao has a great gift: the ability to talk for four straight minutes without actually saying anything."

Mao was also seen picking his nose in a video interview while reciting a poem by his grandfather.

In another interview, he said: "Napoleon, Clausewitz [author of On War], even Stalin are all considered to be great military theorists... but they still cannot compare with my grandfather."

Mao has also been made fun of for saying: "Mao Zedong's military theory is far better than the The Art of War."


Online critics often say Mao climbed the military ladder because of his last name, and not because of merit. He was promoted to major general at age 39 in 2009, becoming the youngest general in China.

He claims he was promoted on his "own efforts" - after all, he once was a student of his grandfather's political theories, or Mao Zedong Thought. If his children go abroad, it will be unlikely they will do the same.

The children, Mao Dongdong and Mao Tianyi, are from Mao Xinyu's second wife, Liu Bin, whom he married in 2002, according to Xinhua news agency.

Privileged children of high-ranking Communist Party officials are often sent abroad to study. The practise has become a sensitive topic of late as public anger has increased over revelations of corrupt officials. Critics have long questioned how they could afford their children's overseas tuition on goverment salaries.

Fallen Chongqing party boss Bo Xilai, now facing trial over graft and abuse of power, said his son's education was paid for through scholarships. Bo Guagua studied in Britain and graduated from Harvard University last year.

Premier Wen Jiabao's son reportedly studied at Northwestern University in the United States, and his daughter at Harvard. Another Harvard student was the daughter of incoming president Xi Jinping, if photos circulating online are to be believed.

It's much too soon to tell whether Mao Zedong's great grandchildren will follow in their footsteps, but Mao Xinyu won't write off the possibility.

I never realized Mao Anqing had children. He suffered from something that's just been called 'mental illness' and was pretty marginalized and kept out of the spotlight. According to The Private Life of Chairman Mao, Mao was actually not a nepotist. He regularly insisted that his daughters get no special treatment (although the book never mentioned Mao Anqing, and Mao Anying was dead before Li Zhisui became his doctor.

It's another one of the more interesting comparisons between North Korea and China, or Cuba and China. Cuba and NK kept the dictatorship in the family. Whether or not Mao was a 'true believer' in communism is pretty debatable, but I tend to think he was, and the fact that he wasn't a nepotist is some evidence to that end. Another interesting thing from The Private Life of Chairman Mao is how Jiang Qing (Li Zhisui loving hated Jiang Qing) always pretended to be sick, because as long as she was sick, she got to be The Chairman's Wife and enjoyed all the privileges of that. If she wasn't sick, she had to go back to her relatively lovely government job, I forget what it was.

Of course, after Mao was dead, then his family got to wave their names around and Jiang Qing took over (see how well that went for her) and apparently this Mao Xinyu got to be a major general. It's just another one of those many, many things that would piss Mao off about what China became after his death.

GuestBob
Nov 27, 2005

Bloodnose posted:

It's just another one of those many, many things that would piss Mao off about what China became after his death.

The implied nostalgia in this sentence made me sperg all over my keyboard.

Wasn't Mao carried in a litter for most of the long march? If you compare him to the Cuban leaders he seems more than wanting. Maybe he was just a crap revolutionary, oh wait no, that was the characteristic he promoted most strongly during the Cultural Revolution. What exactly was he good at again?

The Great Autismo!
Mar 3, 2007

by Fluffdaddy

GuestBob posted:

What exactly was he good at again?

Perfecting a smug rear end grin for his face to be plastered on currency?

pentyne
Nov 7, 2012

GuestBob posted:

The implied nostalgia in this sentence made me sperg all over my keyboard.

Wasn't Mao carried in a litter for most of the long march? If you compare him to the Cuban leaders he seems more than wanting. Maybe he was just a crap revolutionary, oh wait no, that was the characteristic he promoted most strongly during the Cultural Revolution. What exactly was he good at again?

Forcing nearly a billion people to follow a ideology without personally adhering to its beliefs himself?

Killing 60+ million people at a time with his beliefs of how to make China strong?

Destroying 4000+ years of Chinese cultural history to make China strong?

Seriously, Mao set China back at least 100 years or more, and once the cult mentality breaks in China he will be regarded as the worst Chinese person who ever lived.

The Great Autismo!
Mar 3, 2007

by Fluffdaddy

pentyne posted:

...and once the cult mentality breaks in China...

Don't hold your breath, buddy.

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Fojar38
Sep 2, 2011


Sorry I meant to say I hope that the police use maximum force and kill or maim a bunch of innocent people, thus paving a way for a proletarian uprising and socialist utopia


also here's a stupid take
---------------------------->

pentyne posted:

Destroying 4000+ years of Chinese cultural history to make China strong?

I've heard a great deal about how Mao was a lovely person but this is new. I figured that the decline of Chinese culture began when they were conquered by the British/Dutch and then conquered again by the Japanese and THEN Mao came around and further hosed it.

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