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What?! You mean the end of speculation on housing?! Whatever will we do without speculation on housing?!
Wait, China has a homeownership rate that's half again as big as the US? So... Most people own the houses they live. And speculators won't be able to speculate on housing.
Sounds pretty good to me. Unless your definition of a "good economy" is a winner-take-all speculation bubble that displaces people from housing in order to maximize profit...
This is part of the ongoing misinformation by ml.
In the 1980s, China 'formalized' what is called 'property rights' of Chinese people. The government effectively granted citizens lease rights. These lease rights usually have a maturity of several decades (70 years if I remember correctly). However, the Chinese party-state still owns the land, which means the lease rights can be revoked at any time.
Now, propaganda channels report of high 'property ownership in China,' which is simply false. It's basically some sort of subordination and serfdom: as long as you play by our rules and don't 'make trouble', you can 'own' your flat. Just don't criticize the Party or like the wrong post or something ...
So the story of a high home ownership rate in China complete rubbish.
And in nearly every other country the government will take your home if you don't pay your property taxes or they decide they want to eminent domain it.
You're just being weirdly orientalizing about an incredibly common concept.
I don't think you have read my comment.
You didn't read or understand mine. You own your property in China the same way you own it in western countries. You have to pay to continue to own it in both countries, and they're able to force you to sell if they want to build a highway where your house is, just like in western countries.
I can't lose my home for criticizing the government. I can fight an eminent domain claim and be compensated properly.
Same is true in China, they have laws lmao.
Also you kinda can, eminent domain has famously been used against entire populations that a mayor, governor, or urban planner simply didn't like.
Ok tankie
So what do you not actually care about whether property ownership is meaningfully different in China vs western countries beyond its use as hostile evidence?
I care about good faith arguments, and you're not making one.
I told you how things actually work, in both China and America, is anything that doesn't reinforce preconceived notions bad faith to you?
You're using the USA, a country just as shit if not worse than China when it comes to human rights to try and make China look good.
That's the bad faith argument.
Property isn't a human right.
America is the easiest as I am most familiar with it since I lived there. There's no European country I am aware of that doesn't require you pay money to continue to own property, and have the ability to force you to sell at a price they pick, if they say they have a reason.
Yes, you can argue against them in court, that's true in China too, and there are rare cases where the state doesn't have a legal mechanism to do so, and the highway or w/e has to be routed around the home, that's true in China too.
Ok tankie
No, this is simply wrong.
Oh Hotz. You're such a good propagandist, it's a shame you don't get paid for it. But you're just grasping at straws here.
All land is ultimately held by the sovereign. I can no more sell my house to a foreign government than I can build a foreign military base on it. The sovereign determines the mechanisms by which land can be held. "Ownership" in the US is defined by English Common Law. China doesn't follow English Common Law, so of course their definition of "ownership" will be different. Remember that "ownership" is a made up concept and a made up word that only has meaning within specific legal frameworks and the meaning is defined by those legal frameworks.
In China, "ownership" has time limits, and those time limits are essentially one human lifespan. This is a solution to the inheritance problem that people in the US are still trying to figure out how to solve. Instead of a definition of ownership like in Common Law where I can get Title to a Parcel of Real Property and then I can Transfer Title of that Real Property to a Trust and then have that Trust Administer the Real Property for all of my children and their children and their children, China's system says you can own it for a generation and then it's up for review.
This prevents winner-take-all economics. This prevents financial speculation reducing the housing supply. This prevents tax dodging and other anti-social behaviors.
It's the Chinese legal system's mechanism of ownership. Just because it's not English Common Law doesn't mean it's lying, propaganda, subordination, or serfdom.
You're really grasping at straws and hoping it works to convince people but all you do is prove to our shared audience that you are irrational, driven by something other than truth, and ultimately that what you say cannot be trusted