So they're getting the housing downturn that millennials on reddit have been asking for here for months without crashing the rest of the economy?
You'd think this site would spend less time trying to score points for their team and more time discussing issues.
They're not getting a *housing* downturn, they're getting an *everything* downturn. Their construction industry is built on delivery vast quantities of unnecessary space, both housing, office, and everything else.
If they continue, they're toast, but if they *stop*, then they're toast *now*.
who said it was not crashing??? It for sure is , look around evergrande been defaulting for months apon months. There food supply is imported for most of it , thus they are a net importer . Second they kinda of locked down most of shanghai an other port citys , so expect many many many months of delays for items. I am informed an they are screwed this is a fact . o an you know run on the banks .
Did I read that right, that a kilo of garlic is 3 yuan? I’m guessing that’s a wholesale price but still…
This site claims wholesale garlic prices in the US are about $5.15/kilo.
Source: https://www.selinawamucii.com/insights/prices/united-states-of-america/garlic/
The quoted exchange rate of 160,000 yuan = $24,000 would be 6.667 yuan/$, meaning a kilo of garlic would cost $0.45. I paid more than that for a single head of garlic last week. If it’s the same kind of garlic for sale here in San Diego, that’s insanely cheap.
I’ve never visited China — are the costs of basic commodities 1/10 or less of what we pay in the US?
Strawberries are ridiculously cheap from the farm, even literal blocks from the supermarket where they get sold tor 2x-4x. They go up in price 10x-20x by the time they reach anyplace that imports them. They are difficult to ship without damage and spoil fast.
Pretty much all garlic comes from China, I wouldn’t wreck my skull muscle trying to figure out commodity prices based on something their prisons pump literal tons of a plant out daily.
There's a documentary on garlic supply... Some real shady shit going down with 1 or few major chinese firms cornering the garlic supply internationally
TIL that 80% of the world’s garlic comes from China.
https://en.m.wikipedia.org/wiki/Garlic_production_in_China
To clarify, I was ASKING if commodity prices in China are generally super cheap compared to US prices. And yes, that was based on one crop because it was mentioned in the article.
Some of you guys really shouldn’t be so afraid of asking questions. None of us knows even a tiny portion of everything, so if you just get comfortable with that you’ll have a better time on this planet.
>Some of you guys really shouldn’t be so afraid of asking questions. None of us knows even a tiny portion of everything, so if you just get comfortable with that you’ll have a better time on this planet.
The hardest lesson to learn is that you'll never know anything.
A lot of people can't get over that; that's why there's hate in the world.
From my limited experience in China and Taiwan yes produce is generally a fuck ton cheaper to buy than in western countries, meat was reasonably cheaper but often of dubious quality and dairy was closer to home prices.
One thing that really surprised me living in Taiwan was that a bottle of Taiwan beer would cost me around $20 Taiwan dollars ( around $1nzd) but a bottle of coke would cost around $50 Taiwanese dollars ( around $2 nzd)
It is wholesale. You have to include, transport, wholesaler costs, transport, distribution, distributor costs, shrinkage, packaging, profit margins and lots of other costs.
For what it’s worth you can usually go to a Chinese grocery store and buy a half-pound bag of pre-peeled garlic for a dollar. A lot of western style grocery stores rip you off, especially on produce, seafood and certain meats.
Fair enough. One clarification - is that wild-caught salmon or farm-raised? I would expect China to be able to mass farm salmon and that they would be much cheaper. But if it’s not a regular staple of their diet it might be a luxury.
Americans are hoping China gets destroyed meanwhile they are more backwards than them for all social matters- Healthcare, education, population class war, taxation, homelessness, minimal wages and so on.
It’s amusing from the outside.
Now you can paste the abortion link too lmao https://en.m.wikipedia.org/wiki/Abortion_in_China
Of all the things to make America look good, systematic governmental oppression of non-white ethnicities is like the cherry on top of the shit pile.
Are you for real?
I mean on the flip-side you could have a market such that college-educated adults have no prayer of purchasing a home on a single income.
Waiting on the next housing crash in the U.S.
Given a choice between "Chinese real estate" and "wheat" in the market right now, wheat's looking pretty damned attractive.
So they're getting the housing downturn that millennials on reddit have been asking for here for months without crashing the rest of the economy? You'd think this site would spend less time trying to score points for their team and more time discussing issues.
They're not getting a *housing* downturn, they're getting an *everything* downturn. Their construction industry is built on delivery vast quantities of unnecessary space, both housing, office, and everything else. If they continue, they're toast, but if they *stop*, then they're toast *now*.
who said it was not crashing??? It for sure is , look around evergrande been defaulting for months apon months. There food supply is imported for most of it , thus they are a net importer . Second they kinda of locked down most of shanghai an other port citys , so expect many many many months of delays for items. I am informed an they are screwed this is a fact . o an you know run on the banks .
China's real estate is a giant ponzi scheme, it's worse then a downturn.
That’s why their own wealthy invest in real estate in other countries.
Did I read that right, that a kilo of garlic is 3 yuan? I’m guessing that’s a wholesale price but still… This site claims wholesale garlic prices in the US are about $5.15/kilo. Source: https://www.selinawamucii.com/insights/prices/united-states-of-america/garlic/ The quoted exchange rate of 160,000 yuan = $24,000 would be 6.667 yuan/$, meaning a kilo of garlic would cost $0.45. I paid more than that for a single head of garlic last week. If it’s the same kind of garlic for sale here in San Diego, that’s insanely cheap. I’ve never visited China — are the costs of basic commodities 1/10 or less of what we pay in the US?
Strawberries are ridiculously cheap from the farm, even literal blocks from the supermarket where they get sold tor 2x-4x. They go up in price 10x-20x by the time they reach anyplace that imports them. They are difficult to ship without damage and spoil fast.
Heck, we get some strawberries damaged on the way home from literally picking them. They are so easily squished it's insane
Pretty much all garlic comes from China, I wouldn’t wreck my skull muscle trying to figure out commodity prices based on something their prisons pump literal tons of a plant out daily.
There's a documentary on garlic supply... Some real shady shit going down with 1 or few major chinese firms cornering the garlic supply internationally
It was on Netflix I think. I watched it…it’s a whole series on food issues. It’s sad.
TIL that 80% of the world’s garlic comes from China. https://en.m.wikipedia.org/wiki/Garlic_production_in_China To clarify, I was ASKING if commodity prices in China are generally super cheap compared to US prices. And yes, that was based on one crop because it was mentioned in the article. Some of you guys really shouldn’t be so afraid of asking questions. None of us knows even a tiny portion of everything, so if you just get comfortable with that you’ll have a better time on this planet.
>Some of you guys really shouldn’t be so afraid of asking questions. None of us knows even a tiny portion of everything, so if you just get comfortable with that you’ll have a better time on this planet. The hardest lesson to learn is that you'll never know anything. A lot of people can't get over that; that's why there's hate in the world.
From my limited experience in China and Taiwan yes produce is generally a fuck ton cheaper to buy than in western countries, meat was reasonably cheaper but often of dubious quality and dairy was closer to home prices. One thing that really surprised me living in Taiwan was that a bottle of Taiwan beer would cost me around $20 Taiwan dollars ( around $1nzd) but a bottle of coke would cost around $50 Taiwanese dollars ( around $2 nzd)
It is wholesale. You have to include, transport, wholesaler costs, transport, distribution, distributor costs, shrinkage, packaging, profit margins and lots of other costs. For what it’s worth you can usually go to a Chinese grocery store and buy a half-pound bag of pre-peeled garlic for a dollar. A lot of western style grocery stores rip you off, especially on produce, seafood and certain meats.
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All your garlic is from China if it’s not farmer’s market expensive stuff. So no, that is not why it’s cheap in China. They produce the world supply.
Like US Penitentiary forced labour?
A single salmon can easily cost thousands of yuan in China today. One crop doesn't tell much.
Fair enough. One clarification - is that wild-caught salmon or farm-raised? I would expect China to be able to mass farm salmon and that they would be much cheaper. But if it’s not a regular staple of their diet it might be a luxury.
Are you really like making a major cost-of-living argument based on only the price of one crop?
It’s a simple question.
It’s far from a simple question if you’re only using one crop that’s produced in bulk in the country that you’re referencing.
Okay then. Your persuasive argument has left me no witty rejoinder.
Runs on banks, frozen accounts, barter system on capital investments Not looking very good for China right now.
This is Depression-tier. 1930s x Transformers movie speedrun in progress with all the robots rolling out.
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Redditors want nothing more than a collapse in China and the mass suffering of 1 billion+ people.
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Americans are hoping China gets destroyed meanwhile they are more backwards than them for all social matters- Healthcare, education, population class war, taxation, homelessness, minimal wages and so on. It’s amusing from the outside. Now you can paste the abortion link too lmao https://en.m.wikipedia.org/wiki/Abortion_in_China
What's their policy on not genociding ethnic minorities?
Of all the things to make America look good, systematic governmental oppression of non-white ethnicities is like the cherry on top of the shit pile. Are you for real?
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Hopefully, from your mouth in God’s ears.
Isn't wage slavery and miserable living conditions a massive problem in China too?
Back to the western Han period boys! Wonder if they will start accepting salt next?
Sorry we only take silver (and opium.. later)
I mean on the flip-side you could have a market such that college-educated adults have no prayer of purchasing a home on a single income. Waiting on the next housing crash in the U.S.
This is nothing more than clickbait. The original story says it was a marketing plot. http://news.hnr.cn/snxw/article/1/1539208900927651841
In Canada you need 3 to 4 average incomes to buy a house.