I’m very positive in most terms when it comes to China but it seems that corrupt officials are using real estate to boost their GDP numbers and also pocket a lot of money for themselves. It can’t end well when they built new cities for around 1 million people and no one lives there.
From what I read, the Chinese housing bubble is the mother of all bubbles.
I tend to agree. They may actually trumph Spain in this area in the end. What scares me is that so much of our western economies are based upon China doing well at the moment. This could actually set us back many many years again.
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