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Nanchong of Sichuan Province is a "tier 3" city in western China and most people in China never heard of it.
It is also considered economically "backward".
However the infrastructure has been improved rapidly.
It is somehow amazing to realize that there are 300 cities like this in China! The market for real estate and so on is really huge.
You do realize it is a huge bubble? Also the construction practices would make you shudder... bridges, highways, buildings are always collapsing in china
You do realize it is a huge bubble? Also the construction practices would make you shudder... bridges, highways, buildings are always collapsing in china
The phrase "quick and dirty" takes on a whole new meaning when it comes to chinese building practices.
The phrase "quick and dirty" takes on a whole new meaning when it comes to chinese building practices.
This is so true! Things over there are not as they appear on the surface to us as we look at these reports. My wife is from China, we were there just a few months ago to visit her family. They live in a highrise apartment building that was just built about 10 years ago. You'd think that means it's a nice new building that still looks great. Wrong- it looks like it's old and crumbling already- bare concrete looking hallways with maybe a single lightbulb without a fixture hanging in each hallway, with the electrical and cable TV lines for apartments strung haphazardly along the ceiling or along the walls through the hallways, crumbling tile on the floors already, cracks all over the walls. And this was more of an upper middle class building- this in no way was a place for poor people to live.
You do realize it is a huge bubble? Also the construction practices would make you shudder... bridges, highways, buildings are always collapsing in china
Not just that ... Their one-child policy is exacerbating a future population implosion. Their economic growth will be massively curtailed in a couple decades when they're unable to replace aging workers
This is really unprecedented. Just think of all those young factory workers, driving the economy now. In 20-30 years they'll be retired, only to be replaced by ~50% or less of the current level! And the overly-managerial government will have to "manage" that huge population of elderly.
So we will all see the era of cheap Chinese labor come to an end soon, and with it economic models that drive places like Walmart. China will be home to the stagnation seen in Japan today.
Maybe we'll be looking at pictures of ghost towns in China composed of currently modern skyscrapers?
They live in a highrise apartment building that was just built about 10 years ago. You'd think that means it's a nice new building that still looks great.
In fact 10 years is a long time for China. Many buildings constructed in the 1990s have been torn down for better ones.
Not just that ... Their one-child policy is exacerbating a future population implosion. Their economic growth will be massively curtailed in a couple decades when they're unable to replace aging workers
The one-child policy will probably change soon. In fact they are allowed to have two now, if each of the parents is an only child.
In addition, Guangzhou City alone has 200,000 African immigrants (most are illegal). There are many illegals from Vietnam, and some from North Korea too... They also work.
So we will all see the era of cheap Chinese labor come to an end soon, and with it economic models that drive places like Walmart. China will be home to the stagnation seen in Japan today.
Maybe we'll be looking at pictures of ghost towns in China composed of currently modern skyscrapers?
Cheap Chinese labor is already just about done. That is why you see the skyscrapers and the increase in consumer goods. There are many parts of the world where labor is either cheaper or cost to produce goods are less when logistics are part of the equation.
Nanchong of Sichuan Province is a "tier 3" city in western China and most people in China never heard of it.
It is also considered economically "backward".
However the infrastructure has been improved rapidly.
It is somehow amazing to realize that there are 300 cities like this in China! The market for real estate and so on is really huge.
Not just that ... Their one-child policy is exacerbating a future population implosion. Their economic growth will be massively curtailed in a couple decades when they're unable to replace aging workers
This is really unprecedented. Just think of all those young factory workers, driving the economy now. In 20-30 years they'll be retired, only to be replaced by ~50% or less of the current level! And the overly-managerial government will have to "manage" that huge population of elderly.
So we will all see the era of cheap Chinese labor come to an end soon, and with it economic models that drive places like Walmart. China will be home to the stagnation seen in Japan today.
Maybe we'll be looking at pictures of ghost towns in China composed of currently modern skyscrapers?
Yep and they have a 40% savings rate and have invest much of it in US Tresuries which is basically their retiremnt accoutns .The danger is that they will be cashig in and cause a crsis in this country.bascially our governamnt debt is their retirement accounts. China is out biggest lender and the Japanese are the seocnd. The difference ebtween them and us is they have higgh deficit but its owed to japanese savers.
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