Another wealth feast for China’s bureaucrats and elites!!!!!!!!!!!!

 

The Chinese government has once again stepped in to save the crumbling real estate industry, which means that the ten-year-old "housing is for living, not for speculation" policy has come to an end. I wonder how much funds the central government and local governments are prepared to use to acquire and store the backlog of houses in the hands of real estate developers. What will they do with them once they are acquired?

At that time, Zhu Rongji mobilized the whole country to clean up the unfinished real estate projects in Hainan. It took a full ten years. Today, the scale and stock of real estate in China far exceed that of Hainan back then. If real estate is not saved, the next disaster will occur. Banks, despite the fact that China's banks seem to be strong today, the real estate problem continues to ferment, and the panting Chinese banking industry will collapse. The Chinese government's rescue of real estate is to save the banks and itself!

The Chinese government decides to save real estate. No matter what the outcome is, it does not matter. For the powerful, it is another opportunity! It’s the beginning of another wealth feast! Acquisition and storage of huge amounts of real estate, how to price it and how to pay for it. The tricks and rent-seeking costs involved are enough to make many people rich overnight. Many people believe that the anti-corruption effect in the past ten years has been outstanding and people no longer dare to be corrupt. This is a complete underestimate of the corrupt system. In essence, anti-corruption is just a deterrent method derived from the corrupt system, and cannot affect the corrupt system itself at all.