Friday, Dec 11, 2009

Following recent China Chit Chat

China Post: China real estate faces bubble fears

"Property prices in Chinese cities rose at the fastest pace in 16 months in November, the government said Thursday, amid growing concerns about bubbles building in real estate. Property prices in 70 medium and large cities rose 5.7 percent in November from a year ago, the biggest jump since July 2008... It was the sixth successive year-on-year increase..."

Posted by rumble @ 12:01 PM (1007 views)
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4 Comments

1. general congreve said...

They say China will be the new Dubai, but it'll be nuclear in terms of the fallout. Apparently their banks are in BIG sh1t if things go pop over there. If true, it's brilliant news, it'll mean the Chinese will ape the yanks with loose fiscal policy to try to smooth things and we know what that means. Go gold!

Friday, December 11, 2009 12:11PM Report Comment
 

2. peter_2008 said...

China "reported" big growth in 50's and 60's while 30 million Chinese starved to death - more than people killed in the two world wars.

But THIS TIME IT'S DIFFERENT.

Friday, December 11, 2009 01:07PM Report Comment
 

3. quiet guy said...

@general congreve

China is undoubtedly misallocating capital but the key difference is that they are spending money they own instead of using debt finance.

@peter_2008

Is it useful to compare modern China with the China of the fifties and sixties?

Friday, December 11, 2009 01:17PM Report Comment
 

4. p. doff said...

I thought they were already using fiscal stimulus. The car sale boom is largely supported by government handouts to buyers - you should see the resultant traffic problems in large cities as the infrastructure has failed to keep pace. BTW, if you haggle hard enough you can get 5 fake Rolex watches for 100 Yuan. That's about £2 each - (if you really want one that is)!

Friday, December 11, 2009 01:17PM Report Comment
 

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