Orsino Posted July 3, 2012 Share Posted July 3, 2012 It seems that China isn't big enough to accommodate the country's property bubble. Anyone fancy investing in Angolan BTL? http://www.bbc.co.uk/news/world-africa-18680217 Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted July 3, 2012 Share Posted July 3, 2012 Two people walking down the road, looked like both were chinese. Quote Link to comment Share on other sites More sharing options...
Nationalist Posted July 3, 2012 Share Posted July 3, 2012 They had better move their coolies in PDQ - otherwise Africans will move in 10 to a room and have a whale of a time. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted July 3, 2012 Share Posted July 3, 2012 Thats communism for you. Maybe we can get them to build some "ghost towns" outside our major cities and solve our "housing crisis." Quote Link to comment Share on other sites More sharing options...
albimac Posted July 3, 2012 Share Posted July 3, 2012 Is that built to house half a million Africans or Chinese? Someone has big plans. Quote Link to comment Share on other sites More sharing options...
Chuffy Chuffnell Posted July 3, 2012 Share Posted July 3, 2012 The Chinese take "mis-allocation of capital" to new meanings! They really don't know what to do with the billions of peasants and trillions of Western fiat units do they? Quote Link to comment Share on other sites More sharing options...
kenzdawg Posted July 3, 2012 Share Posted July 3, 2012 China thinks strategically. When Guangdong becomes priced out of the cheap labour market I would not be the least surprised if Chinese capital switched production to the coast of Africa. Looks like they already have the infrastructure.... Quote Link to comment Share on other sites More sharing options...
Chuffy Chuffnell Posted July 3, 2012 Share Posted July 3, 2012 China thinks strategically. When Guangdong becomes priced out of the cheap labour market I would not be the least surprised if Chinese capital switched production to the coast of Africa. Looks like they already have the infrastructure.... Oh goody, more cheap tat for us! Quote Link to comment Share on other sites More sharing options...
kenzdawg Posted July 3, 2012 Share Posted July 3, 2012 Oh goody, more cheap tat for us! You know you love it! Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted July 3, 2012 Share Posted July 3, 2012 Can I coin the phrase "Globalisation velocity"? It looks like the Chinese are delocalising even before their own bubble has burst. That cycle is getting quicker all the time. Quote Link to comment Share on other sites More sharing options...
Blod Posted July 3, 2012 Share Posted July 3, 2012 I love this section from the BBC story:- "However, Paulo Cascao, general Manager at Delta Imobiliaria, the real estate agency handling the sales, told the BBC that the problem was not the price, but difficulty in accessing bank credit. "The prices are correct for the quality of the apartments and for all the conditions that the city can offer," he said. “There is no middle class in Angola, just the very poor and the very rich, and so there is no-one to buy these sorts of houses” "The sales are going slowly due to the difficulty in obtaining mortgages." A new legal frame work has recently been introduced to allow local banks to give mortgages, but for the majority of Angolans, even the few with well-paid office jobs, just finding enough cash for a deposit would be a struggle." Sounds familiar to the bulls argument we hear in the UK. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted July 3, 2012 Share Posted July 3, 2012 I love this section from the BBC story:- "However, Paulo Cascao, general Manager at Delta Imobiliaria, the real estate agency handling the sales, told the BBC that the problem was not the price, but difficulty in accessing bank credit. "The prices are correct for the quality of the apartments and for all the conditions that the city can offer," he said. “There is no middle class in Angola, just the very poor and the very rich, and so there is no-one to buy these sorts of houses” "The sales are going slowly due to the difficulty in obtaining mortgages." A new legal frame work has recently been introduced to allow local banks to give mortgages, but for the majority of Angolans, even the few with well-paid office jobs, just finding enough cash for a deposit would be a struggle." Sounds familiar to the bulls argument we hear in the UK. I think calling it an 'argument' gives it undeserved credibility. Its illogical psychobabble. Quote Link to comment Share on other sites More sharing options...
SleepyHead Posted July 3, 2012 Share Posted July 3, 2012 Holy s**t. The Chinese model of GDP growth by means of just building stuff. Unbelievable. Quote Link to comment Share on other sites More sharing options...
sandster Posted July 4, 2012 Share Posted July 4, 2012 When I was down in Luanda I was told they were using Chinese prisoners to build a downtown skyscraper. I wasn't sure whether this was true or just their version of the asian labour seen in the Middle East, though there's probably not much difference. Quote Link to comment Share on other sites More sharing options...
Frank Hovis Posted July 4, 2012 Share Posted July 4, 2012 Holy s**t. The Chinese model of GDP growth by means of just building stuff. Unbelievable. They did this before under Mao, they wanted to be seen as a major economic power so decided to become a leading iron and steel producer. Cue the creation of loads of pointless plants all over producing poor quality metal that nobody wanted, but it got them up the iron and steel producer rankings. Quote Link to comment Share on other sites More sharing options...
homeless Posted July 4, 2012 Share Posted July 4, 2012 100k or so for a crappy flat in africa? this is complete madness, did no one think to ask who could buy these before building a million of them. at they prices manufacturing will be coming back to europe and usa quicker than we think. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted July 4, 2012 Share Posted July 4, 2012 100k or so for a crappy flat in africa? this is complete madness, did no one think to ask who could buy these before building a million of them. at they prices manufacturing will be coming back to europe and usa quicker than we think. Chinese Timeshare apartments? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 4, 2012 Share Posted July 4, 2012 Do armed guards protect these buildings? How long before they just become very expensive slums. So now they just need the jobs where the people of Angola can afford to buy these new built rabbit hutches? Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted July 4, 2012 Share Posted July 4, 2012 Holy s**t. The Chinese model of GDP growth by means of just building stuff. Unbelievable. There has to be some sort of logic or plan behind this. I wonder are they planning to locate large amounts of their own citizens to areas of the World where they have big economic interests, a sort of neo-colonialism? Quote Link to comment Share on other sites More sharing options...
AThirdWay Posted July 4, 2012 Share Posted July 4, 2012 Do armed guards protect these buildings? How long before they just become very expensive slums. So now they just need the jobs where the people of Angola can afford to buy these new built rabbit hutches? They seem to be making the same mistakes made in the UK in the 60/70's. Don't build out, build up.... Now I know many African countries are money poor, but surely to God they're land rich! Quote Link to comment Share on other sites More sharing options...
TwoWolves Posted July 4, 2012 Share Posted July 4, 2012 Can I coin the phrase "Globalisation velocity"? It looks like the Chinese are delocalising even before their own bubble has burst. That cycle is getting quicker all the time. This was my thought. Good luck getting the Angolans to adopt a Chinese work ethic though. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 4, 2012 Share Posted July 4, 2012 This was my thought. Good luck getting the Angolans to adopt a Chinese work ethic though. If they are going to relocate 500,000 Chinese that doesn't matter. Quote Link to comment Share on other sites More sharing options...
TwoWolves Posted July 4, 2012 Share Posted July 4, 2012 If they are going to relocate 500,000 Chinese that doesn't matter. what would that achieve? Quote Link to comment Share on other sites More sharing options...
Ruffneck Posted July 4, 2012 Share Posted July 4, 2012 Could have swapped title for 'Spanish ghost town' and noone would have known the difference. I recall seeing a similar video set in Spain a few years ago. Quote Link to comment Share on other sites More sharing options...
Nationalist Posted July 4, 2012 Share Posted July 4, 2012 The Chinese are suffering from a major cargo cult delusion. They've looked at the west and seen that housing makes you rich ergo they build housing. They have 64 million unsold luxury appts in China just waiting for rich people to turn up and buy them. They are trying to leap frog the industrial revolution, where people get rich first, then buy big houses. Quote Link to comment Share on other sites More sharing options...
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