MUST SEE VIDEO: China’s Economic Crisis is MUCH Bigger Than Expected – Its Property Market, Largest in the World, Is Collapsing

The situation in China is much worse than originally thought.  The largest property market in the world is set to collapse and the ramifications will impact the entire world. 

We’ve been discussing China’s economic issues for years.  Recently this was even discussed with Steve Bannon on The War Room.

Behemoth in China Real Estate Readying for Bankruptcy – Is This the Beginning of a Massive China Real Estate Crash?

We now have information that the situation is worse than we thought.  For starters, the China property market is the largest market in the world at $62 trillion USD per a recent report from Goldman Sachs.

The property market in China is nearly 30% of China’s GDP compared to 6% in the US.

Like we’ve been saying for years, China’s property market is way overbuilt.  It is similar to the 2008 housing crisis in the US.  The Chinese way overbuilt unneeded properties.  The property glut in China is so huge that 15 massive properties were recently taken down at the same time because they sat for 7 years unfinished.

Property was the only way to build wealth in China since the stock market is new and not trusted.  So as people invested, properties were built, but then the builders began to use the deposits on other activities.  It became a Ponzi scheme – some say the world’s largest (but the US Social Security system’s unfunded liabilities are estimated at $96 trillion.)

Goldman Sachs has estimates on the status of China’s property market’s impact on GDP and the worst-case scenario brings China’s GDP down significantly.  However, sales are new starts are currently down significantly worse than the estimates.

Much of this recent information comes from the video below which is well worth watching.

China is in a world of hurt.

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Joe Hoft is a Radio Host at TNTRadio.live, Author, Former International Corporate Executive in Hong Kong for a Decade, and a Contributor at TGP since 2016. Joe is the author of five books, including his new bestseller, "The Steal: Volume II - The Impossible Occurs" which addresses the stolen 2020 Election and provides an inventory of issues that prove that the 2020 Election was uncertifiable and never should have been certified for Joe Biden.

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