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Originally Posted by mainlander
The not-so-secret truth is that the Chinese government is wholeheartedly endorsing and supporting the largest building boom ever seen in history. There are cities far bigger than "The Villages" repleat with shopping malls and businesses that have never been owner occupied... they stand empty... yet the building continues at a rapid clip as middle class investors buy 3,4 5 of these homes and save to buy more. Unbridled capitalism or communism run off the rails. If you thought the U.S. housing bubble hurt,, watch for this bubble to burst,, all in my opinion of course.
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2 theories...the three gorges dam will displace millions as the water rises...that's where they're supposed to go. The other is they want to move the millions of peasant farmers into cities so the big boys can scoop up their farmland.
Quote:
Originally Posted by Golfingnut
Yet all of us rush to Walmrt to buy china made products at ever increasing rate as well. You get what you pay for.
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Because it's cheap. Even with shipping. Labor is the highest cost here...not there.