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China's housing bubble

here's a documentary of the 'ghost cities' of china...

they created 3 new cities that was expected to boom but nobody moved in...residents nor merchants...

[youtube]pbDeS_mXMnM[/youtube]
 
And the worst part is it's all built by Chinese using Chinese materials. The quality and workmanship must be exceptional.

My Dad designed some air separation plants for the Chinese years back and had to travel there to help them get them up and running, etc. Got a good look at the country, its infrastructure, engineering talent. Had nothing good to say. I recall the first thing he said to me upon returning from there was 'if anyone tries to convince you that China's not a third world country, don't believe them.'

Which exact year was your dad there?

China has evolved very rapidly. The tonier parts of Beijing and Shanghai can rival any place in the world. I have been there and can attest to that.

However this does not mean the housing bubble won't crash. But I reckon it is about time we get our own house in order instead of looking down on others that are fast catching up and will overpass Americans who are content with watching American Idol reruns and talking about what anyone of them Kardashian whores are up to :|
 
I can't help but feel like the people of China are going to have some serous problems with their environment and government within the next fifty years.
 
Yup, still poor, rural, etc. And yet, we make them seem like a boogeyman that is the source of our problems. I will say that they ARE developing rapidly, and perspective dating to "a few years back" might be outdated.

Putting the collective wealth of the world into the hands of Communists is a hellish cataclysm of global proportions just waiting to happen. Just wait.
 
Putting the collective wealth of the world into the hands of Communists is a hellish cataclysm of global proportions just waiting to happen. Just wait.

Way too "sky is falling" for me. We shall see.
 
i has feeling these places will booming in 10 years attracting international interest...current government may become more lax with less tensions

might see like euro japan russian and merican settlements sold by china
 
can you image all the bloodthirsty chinese peons living in shipping containers outside these empty cities they cant afford, and then they suddenly fill them up with walmart rednecks? that aint gonna end well

meanwhile aint that a bitch, Red China spending all those American Tax Dollars on fake GDP
 
China is a amazing country. I went there to visit a friend that was working for advertising agency in Shanghai. He said that working as a Ex-pat made him more patriotic about being a US citizen because he was witnessing first hand how China is going to surpass US as a superpower.

I was there only 10 days and I came to the same conclusion. The places that I visited were awesome. I was riding on the fastest operating High Speed Rail in the world traveling to Hangzhou and Chinese fighter jets where taking off overhead. The airports, train stations, subways, architecture and cities were beautiful. The World Expo The food and the shopping was amazing in Shanghai.

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I was able to make the sky look less smoggy in this pic.
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If it was not for all these bikes traffic would grind to a halt. There is no way for cars to fit in such a busy city, which is bad news for China because, the growing middle class is adding 13.8 million cars in one year.

Off course I saw there dark side. The poverty, beautiful places that are blanketed in dark smog, cooking oil sourced from the sewer, but the positives trump the negatives. Complaints about CARB and the EPA are asinine after you visit China. WAKE UP people.

When I was there, I did not visit any of these ghost cities, but I did see some overbuilding. The Pudong airport had at least a 1/4 mile of empty international terminal.

I hope China does go through a major adjustment before they waste any more resources. China has bankrupted a bunch of US companies when Chinese Government Subsidies flooded the market with commodities. One example is the solar industry. My take is that growing tech industries should be in the US unless you want to see the quality of life in the US go down.
 
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Which exact year was your dad there?

China has evolved very rapidly. The tonier parts of Beijing and Shanghai can rival any place in the world. I have been there and can attest to that.

There's a lot more to China than Beijing and Shanghai...
 
There's a lot more to China than Beijing and Shanghai...

And those regions are developing insanely fast too. They just don't get the attention. Take a look at the "prefecture-level" cities in the middle of the country. Most with several million people, growing rapidly.

It is true though that China is still largely poor, which is why I don't get our angst.
 
Is it just me, or does anyone else think that China is more capitalistic than we are ?
 
Is it just me, or does anyone else think that China is more capitalistic than we are ?

Just you, but they aren't "communist" either. They fit the "state-sponsored capitalist" (I know, sounds like an oxymoron) description (but we are still the most capitalist country).
 
Is it just me, or does anyone else think that China is more capitalistic than we are ?

You should learn more about their currency, how they control it and how that can potentially impact global markets.
 
You should learn more about their currency, how they control it and how that can potentially impact global markets.

Isn't that the point of capitalism ?

"An economic and political system in which a country's trade and industry are controlled by private owners for profit."


Once China controls the world, our compliants about "the 1%" will become complaints about "the .005%"
 
Isn't that the point of capitalism ?

"An economic and political system in which a country's trade and industry are controlled by private owners for profit."


Once China controls the world, our compliants about "the 1%" will become complaints about "the .005%"

Bolded part is the key. Eldritch is saying that the govt manipulates the currency, etc. Not "private owners."
 
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