NiHao

1/6 I just read this piece, I have to say corruption is definitely a very significant factor to change the shape of China's economy.

2/6 Corruption mainly works the same as purchasing power transfers.

Finance is also a kind of purchasing power transfers. But, a well-functioning finance system transfers the money to fund valuable activities, and it is hard-budget.

3/6 Corruption transfers purchasing powers to someone's pocket secretly. It is often a kind of transfers from people without power to people with power. For example, the corruptions in China's land sells....

4/6 Corruption is often the problem caused by weak mechanism to reconcile public interests and private interests, it is often caused by powers hidden from sunshine.

5/6 Information can be biased in some well-functioning nations, where powers are more disciplined.

So, I don't trust the data mentioned in the article can really indicate the real circumstances in China's corruption cases.

Such data is definitely biased! 

6/6 All in all, the severe saving glut is caused by severe income inequality.

Such inequality can distort the domestic economies and international economies.

....

1/3 I enjoyed reading this IMF article about China's real estate. It is data driven and super clear. Highly recommended!
https://www.imf.org/en/Publications/fandd/issues/2024/12/chinas-real-estate-challenge-kenneth-rogoff

2/3 As the title of the article shows, it is for sure, China's economy is in for another rough year.
https://www.economist.com/china/2024/12/17/chinas-economy-is-in-for-another-rough-year

3/3 Let's wish that here will be demand-side structural reform, just as The Economist mentioned. 