history after suffering an understandable dip during early NUMBER_TOKEN but the thing is these impressive export figures are mainly due to the price growth of commodities rather than genuine growth in productive potential port and factory closures across the nation have slowed down the workshop of the world and heightened trade tensions have certainly not helped the situation unemployment is high especially amongst young workers even by the very creative reporting standards of the government and what work does exist is becoming harder and less rewarding when everything is on the up and up people are happy to work a few extra hours because it means they make more money and improve their quality of life but for the first time in a long time young workers are starting to see that this additional effort is going more to support an ageing and over-leveraged society than them a new phenomenon known as lying flat is sweeping the nation it's a form of peaceful protests where mostly young people will refuse to work in high-intensity roles or perhaps refuse to work at all preferring to just lie flats this might just be another piece of straw on the camel's back but it's one that the government is seemingly quite concerned about china is still heavily reliant on hard-working cheap labor to prop up its economy without it the domestic market it's worked so hard to cultivate or collapse very quickly and perhaps it already is the decades of debt that has piled up to support an endless building spree is starting to come due household debt has risen from NUMBER_TOKEN of gdp in NUMBER_TOKEN to NUMBER_TOKEN percent of gdp in NUMBER_TOKEN in the same time that gdp has almost tripled now debt fuel growth isn't always a bad thing and for what it's worth this debt to gdp figure is still well below places like switzerland and my own country of australia but when that debt is primarily used to buy shortly constructed apartments sitting on land rented from the government at massively inflated prices well the kingdom has literally been built upon pillars of sand debt collectors have seen a massive increase in the past few months and all the factors that we have seen might be starting to sway this tower of cards historically this is where the government would step in but this real estate bubble might genuinely be too big to manage time will tell of course and i'm well aware that everyone in their dog has predicted the inevitable demise of the chinese economic miracle admittedly in part because they kind of want it to be true an authoritarian government that still purports to be communist being the dominant economic superpower in the world i can't say i'm excited about it but regardless of when the economy slows down it's more a question of what happens next in modern advanced democracies when there is an economic meltdown people lose their jobs their houses their cars and it genuinely is terrible but we tend to turn it around and just vote for the other mobile politicians that swears they would have totally handled it better if they were in charge if even a slight hiccup in the promise of endless growth occurs in china people will very quickly become aware of all of the other issues that they were willing to ignore while the going was good when there is only one mob of politicians within the country that you wouldn't dare insult but you still need someone to blame those fingers are probably going to be pointed outwards this video is made possible by public public is the platform for those who enjoy participating in sophisticated conversations about investing at its core public is
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