The sobering reality of China stimulus. Very little of it is cash being handed out to people, most of it is going to banks.

https://i.redd.it/60pt1bfyqqqd1.jpeg – this is a headline summary of the reason "stimulus package" in China.

https://www.investors.com/news/china-stocks-baba-cat-fcx-climb-on-more-beijing-stimulus/ – addressing buybacks and cash handouts. You would very likely have to be demonstrably impoverished to qualify for cash stimulus. Like so poor you don't even have a toilet to poop in.

So, how does this help the average Chinese bitcoiner? Very little. At best, the most "helpful" part of the stimulus is the cut to mortgage rates because that decreases the amount of money a Chinese consumer has to spend to service a bank loan taken out to buy a house or car. It makes money less tight in a household. In a household where there is loose capital, this might help a bit more, but that's it.

If we were going "by the book" with regards to what personal loans can be used for in China, I can post the English regulations from three different banks here, but I'm not going to post an entire steven king novel.

https://www.icbc-ltd.com/ICBC/EN/PersonalFinance/PersonalLoan/PersonalCreditLoan/

https://icbc.com.cn/en/column/1438058389145272639.html

https://www.boc.cn/en/pbservice/pb2/200806/t20080625_1324001.html

The TL;DR for all 3 of these is "You have to demonstrate that you have a business you are trying to launch / start. To qualify for a loan you'd need proof that you rented some kind of real estate to house the business (think office space for an office or a ground-floor garage to start a restaurant or bar or something like that), and then the loan that you get helps you pay for things like renovations, buying business-necessary equipment, etc. etc.

Whereas in America you can get a bank-loan using a new car as collateral and maybe the bank loan cannot be worth more than half of the kelly blue book value of that car (the latter part I'm not sure of, but the first part I am sure of).

Thanks for coming to my ted talk.