Westoid economists were screaming about how China’s real estate market is overheated and will crash, and now that the CPC has done something about it, they’re screaming about how the real estate market isn’t growing as fast so China is doomed.
It is not just “overproduction”. It is “overproduction” with a “stagnating economy” during an “economic downturn”. Only China is capable of collapsing in multiple contradictory ways at the same time like this.
Reminds me of this, as anti-communist rhetoric often does:
“During the cold war, the anticommunist ideological framework could transform any data about existing communist societies into hostile evidence. If the Soviets refused to negotiate a point, they were intransigent and belligerent; if they appeared willing to make concessions, this was but a skillful ploy to put us off our guard. By opposing arms limitations, they would have demonstrated their aggressive intent; but when in fact they supported most armament treaties, it was because they were mendacious and manipulative. If the churches in the USSR were empty, this demonstrated that religion was suppressed; but if the churches were full, this meant the people were rejecting the regime’s atheistic ideology. If the workers went on strike (as happened on infrequent occasions), this was evidence of their alienation from the collectivist system; if they didn’t go on strike, this was because they were intimidated and lacked freedom. A scarcity of consumer goods demonstrated the failure of the economic system; an improvement in consumer supplies meant only that the leaders were attempting to placate a restive population and so maintain a firmer hold over them. If communists in the United States played an important role struggling for the rights of workers, the poor, African-Americans, women, and others, this was only their guileful way of gathering support among disfranchised groups and gaining power for themselves. How one gained power by fighting for the rights of powerless groups was never explained. What we are dealing with is a nonfalsifiable orthodoxy, so assiduously marketed by the ruling interests that it affected people across the entire political spectrum.” ― Michael Parenti, Blackshirts and Reds: Rational Fascism and the Overthrow of Communism
This is also why they think One Child was a failure: a Western economy that size would need 1.8 billion talking heads by 2040 just to keep the spin going. CNBC headquarters alone would be the size of Manitoba and on the verge of gravitational collapse due to the flesh packed within.
