China in debt - Counting the Cost
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The Chinese economic slowdown comes as no surprise to global analysts. As outlooks are adjusted accordingly, it isn't the country's profit margins that are causing concern, but the decades of spending on unfinished building projects that have created a deluge of bad debt for China. Taxpayers point the finger of blame at the government and the lack of social change and development evaluations before money is squandered on the hundreds of unfinished projects, or "rotten buildings" as they have come to be known. According to the Chinese government, China currently has two billion square metres of empty residential space - enough to house 100 million people. Economists echo the peoples' sentiments with the reason for a potential crash placed squarely on the government's shoulders with its insatiable desire for hyper growth. As a result, a debt crisis is a serious possibility. But many continue to deny China's seemingly inevitable forecast, including the Chinese premier, Li Keqiang. "We are fully confident of China's long-term economic growth. As long as we continue to reform and open up, China's economy will not suffer a hard landing," said Keqiang. Critics, however, remain doubtful - the endless sea of deserted developments standing as evidence of their fears for the future. "The economy is not getting better; I see that now. The factories are no longer thriving, and salaries have not gone up with our nation's development. It has all changed. How did it come to this? It's terrible," laments former factory worker Meng Shi Jun. With China adamant that there are no real risks in its future, what can the global economy expect? Will there be ongoing, or even increasing, debt and banking problems? "China is, by some measures, the biggest economy in the world, and it is very well integrated into the global supply chain - anything that happens in China will have repercussions globally," says Sebastien Marlier of the Economist Intelligence Unit. The gender pay gap 'non-myth' Gender equality is a UN sustainable development goal that continues to appear out of reach as the gender pay gap continues to exist in workplaces around the world. The World Economic Forum has forecast that it will be another 118 years before pay parity is achieved. Higher positions of management are also part of this inequality scale. The London Stock Exchange currently only affords seven out of every 100 women a managerial position. Also in the UK, the pay gap stands at 18 percent between men and women, deepening even further after childbirth. We speak to Robert Joyce from the Institute for Fiscal Studies about what is causing the gap and what can be done to speed up measures of equality. We also speak with Catherine Hill, director of research at the American Association of University Women about the deniers of gender pay inequality. More from Counting the Cost on: YouTube - http://aje.io/countingthecostYT Website - http://aljazeera.com/countingthecost/
Comments
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I was told China's GDP this year is about 1%, not 6% as China reported. China's economy started to crumble continuing its downward spiral.
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Yes if China economy crashes, that means I can't buy shoes that fall apart after one month. That aside , I do fear for the future of the Chinese people and the repercussions it will have. As for women's wages being stagnant in the last ten years, EVERYONE'S wages have been stagnant.
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4:55 am I the only one who thinks it looks weird for the him to have his back turned to the camera?
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equal pay for equal work hours and performance.
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China is 25-28 trillion dollars in debt. Holyshit
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women spend more on average yet earn less of their own money..... there is an unearned income gap that we need to fix said no politician ever, as women make up more the 50% of the electorate due to living longer as they consume more in healthcare despite on average men benefit more from it in terms of life expectancy
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*solution to gender pay gap = women need to work as hard as men and give up having kids, which would in tern lead to human extinction
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When was this made? What year?
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0:19 how does an empty city produce so much smog?
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that fake dubai island thing feels odd, I really don't know what to say.
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China's ghost towns/cities could be used as in times of warfare if a city gets bombed ppl could be moved to keep production running
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FAKE DUBAI PALM ISLAND. seriously china?? #lol
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Can someone answer my question please.
All those empty apartments which were made in the hopes that the value of the land would increase overtime AND that people would rent them out. But I am assuming none of that is happening, and that they are losing allot of money (the people who own those properties in the ghost towns), is this correct? And if so, why do they keep developing on some ghost towns (and continue making more ghost towns) if they know it will not work, it seems like they are idiots but I might be missing something. -
Good for China!
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The governments of Japan had similar wasted expenditures, similar to that reported here in China. Could some reports of similarities & differences be made, please?
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Since various studies show that most of the gender wage gap can be explained away by choices it's not really a big deal.
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did he say al jaZEBRA at the beginning?!
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Don't bother to analyze a folly, ask only what it accomplishes. The Chinese didn't accidentally build a bunch of ghost cities. They needed a way to stockpile massive amounts of steel, concrete, copper, etc - without having the world call them hoarders.
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omg!! the woman at 0:49!!!!!!!! i know im in love!!!!!!!
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lol, this is old news (at least the info on China). Footage taken from BBC report earlier this year. ;-)
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