corruption caused by a regime that stifles free economic competition but the point is with onboang and hna and now potentially evergrand the chinese regime is taking control of so-called private companies when they screw up but the bigger problem here is how china's property giants not just evergrand are milking china's middle class and not just with those euphemistically titled wealth management products i was talking about earlier middle class people buying real estate are getting burned too these buyers sink their savings into developers apartments that are not done being built you see if you don't have money to build a gigantic apartment complex you can pre-sell these properties even years in advance and use that money to build them except sometimes you can't finish building and so the people who have bought apartments that don't exist find they've just bought apartments that don't exist ever contract liabilities which are mostly from such pre-sales stood at the equivalent of NUMBER_TOKEN billion dollars as of june that's a lot of apartments or one really nice apartment and that means if the evergrand bubble starts to burst the communist party may be forced to step in and prop up the already shaky chinese real estate market if they don't step in protesters could turn against the communist party itself blaming the party for not bailing them out so the party will bail them out and that will keep inflating the already inflated property bubble but if that bubble starts to burst the communist party will just step in and prop that up and i'm sure there will never be any problems at all with this cycle and now it's time for me to answer a question from a member of the china uncensored NUMBER_TOKEN cent army a viewer who supports our channel on the crowdfunding website patreon and locals endsummersNUMBER_TOKEN asks on locals what is the likelihood of us seeing some sort of naval conflict because of the ccp's new attempt to legitimize its claim on the south china sea what do you all think about this in relation to the ccp's new relationship with the taliban could the ccp utilize them to attack or derail our efforts elsewhere to deter us from looking at the south china sea let me know what you guys think well i think china expects there will be a naval conflict sooner or later according to a pentagon report last year china now has the largest navy in the world yes bigger than the u.s of course the sheer number of ships might not be the most important factor china hasn't fought a war in decades but china has been building artificial islands in the south china sea and putting missile launchers on them and china has been focusing on so-called aircraft carrier killer missiles some are saying short of war china already controls the south china sea and as you can see from this chart china is ramping up incursions into taiwan's airspace now no one knows what china's plans with the taliban are their spokesperson said they plan to get chinese money if so that could be a dangerous alliance for the u.s still the u.s conducts regular freedom of navigation operations in the south china sea and u.s support for taiwan is pretty solid based on what the bite administration has done so far it seems unlikely the u.s will shirk its responsibilities
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