the host is a shameless defender of the stupid and greedy policy of the chinese government. Most money from the real estate industry is collected by the government via selling the land and the tax. the annual report from even-grand shows clearly that for profit per capital, the government collected about 3 dollars. Also, the government owns all the land, thus the government intentionally pushed the high house price to boost its economy. Unfortunately, the huge amount of money collected from the private industry is invested in various projects including: One belt oe road, over 10 trillions, foreign financial aid over 10 trillions, infrastructure investment, new sub-captain, new chip design etc. Most money in these investments have been wasted.
Old policy could not stop the property fall. Restoring confidence on your own country is most crucial. Foreign investment only places their money if we see the progress.
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