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China Rejects $1 Trillion Housing Rescue Plan Pitched by IMF (finance.yahoo.com)

submitted 3 months ago* (last edited 3 months ago) by yogthos@lemmy.ml to c/china@lemmy.ml

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“It would be inappropriate for the central government to directly provide fiscal support, as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.

Ouch, no handouts for the financial bros...😂

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[–] davel@lemmy.ml 7 points 3 months ago* (last edited 3 months ago) (1 children)

😂

This was long-ago settled. You pays your money and you takes your chances, capitalists. Suck it up.

2017: China's Xi says to maintain principle property is not for speculation China will maintain the principle that houses are for people to live in, not for speculation […]
2024: China’s housing minister says real estate developers must go bankrupt if necessary

[–] PanArab@lemmy.ml 5 points 3 months ago

Glorious. This is the difference between a dictatorship of the bourgeoisie and a dictatorship of the proletariat.

This story alone proves China is not your typical capitalist state despite the insistence of ultras.