Comment on Why China Can’t Sort Out Its Property Market Mess

BrikoX@lemmy.zip ⁨1⁩ ⁨day⁩ ago

• Sepia@mander.xyz ⁨1⁩ ⁨day⁩ ago

  Oh, yes, sounds very impressive. But don’t make the mistake that ‘ownership’ in China means the same as in Western democracies.

  In 1949, when the People’s Republic of China was founded, all land was nationalized. Although the (most) residents didn’t pay rent, the government owned all the land.

  In 1980, Deng Xiaoping changed the law and formalized the ownership, but this didn’t change the fact that the land was -and sill is- owned by the state. Property rights in mainland China are some sort of ‘lease rights’ (IIRC 70 years for private property and 50 years for commercial property).

  It is true that by this law, most of Chinese citizens indeed have been ending up with property/lease rights. But be aware that the government can revoke this right at any time for no reason as the government still owns the land.

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  • davel@lemmy.ml ⁨22⁩ ⁨hours⁩ ago

    But be aware that the government can revoke this right at any time for no reason as the government still owns the land.

    In every state in the world, in the final analysis the state owns the land. If you want to find out the hard way, just stop paying your property taxes. Eminent domain in China is similar to the US and many other states:

    In China, “requisitions”, the Chinese form of eminent domain, are constitutionally permitted as necessary for the public interest, and if compensation is provided. The 2019 Amendment of the Land Administration Law of China spells out rather detailed guidelines, guaranteeing farmers and those displaced greater financial security. Property rights are in fact stronger in China than in many places: duckduckgo.com/?q="china"+home-owner+refuses+to+s…

    Your sole mission on Lemmy is to spam it with anti-China & anti-Russia news articles though, so there’s no reason to believe that you’ll re-evaluate & update your understanding. You’ll recycle the same bullshit the next time around.

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  • calavera@lemmy.zip ⁨1⁩ ⁨day⁩ ago

    For me that sounds great. It prevents generational wealth transfer

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    • IronBird@lemmy.world ⁨1⁩ ⁨day⁩ ago

      b…but…imagine homes being so common that anyone can afford them without taking on crippling debt? the horror

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    • krooklochurm@lemmy.ca ⁨19⁩ ⁨hours⁩ ago

      Yeah no issues with this setup

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  • dumbarstool@lemmy.zip ⁨23⁩ ⁨hours⁩ ago

    Oh nooo, millionaire developers can’t hoard resources as easily in China 😭

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  • Johnny_Arson@hexbear.net ⁨1⁩ ⁨day⁩ ago

    In 1949, when the People’s Republic of China was founded, all land was nationalized.

    Which is why this article means absolutely nothing. Again proving you know nothing about the economics of socialism.

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