Because China is increasingly looking broke, so daddy Tencent’s purse is tightening.
On top of that, the world’s banks now have interest rates to look after again, so their free money streams have ended too. Meaning that companies have to prove their profitability.
But the rich want to keep their free money train going, so we’re all paying now.
Tim Sweeney alone owns 50% of the company, he can pretty much make his own decisions independently from Tencent. Also China is slowly catching up to the US’s GDP with way less government debt, what are you talking about?
The most current projections is China will never catch up to US GDP. Just for posterity, China GDP per capita is under $14k, while US is above $80k. There is no conceivable path to closing this gap. Not with an authoritarian in charge who shuts down entire industries on a whim and murders political rivals who disagree with him.
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Because China is increasingly looking broke, so daddy Tencent’s purse is tightening.
On top of that, the world’s banks now have interest rates to look after again, so their free money streams have ended too. Meaning that companies have to prove their profitability.
But the rich want to keep their free money train going, so we’re all paying now.
Tim Sweeney alone owns 50% of the company, he can pretty much make his own decisions independently from Tencent. Also China is slowly catching up to the US’s GDP with way less government debt, what are you talking about?
US’s debt to GDP ratio has decreased by 13% since 2019. To 77%.
China’s real debt to GDP ratio is estimated to be 335%. (Via the IIF via the SCMP)
Two different things the 335 includes non-government debt like personal mortgages and corporate debt, 77 is federal treasury bonds only.
The most current projections is China will never catch up to US GDP. Just for posterity, China GDP per capita is under $14k, while US is above $80k. There is no conceivable path to closing this gap. Not with an authoritarian in charge who shuts down entire industries on a whim and murders political rivals who disagree with him.