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I hope the article is correct. From what I hear of people who have lived there recently, China appears to be so full of bubbles it makes a fresh pint of Guinnes
by swombat 17y ago
I hope the article is correct. From what I hear of people who have lived there recently, China appears to be so full of bubbles it makes a fresh pint of Guinness cheese look positively flat.
The tragic thing is, if China does blow up, there will probably be tens of millions of people who will die in the process.
- rogermugs 17y agoits my understanding there is housing going up everywhere.. EVERYWHERE. and over 50% of it empty. and almost all of it bought on credit with people who wont be able to pay it back unless the cost of the place doubles... in which case they can sell it to others who will buy it on credit. Average college graduate wage 1500 RMB/month (a little over 200$), average house cost 1,000,000RMB (about $150,000) does anyone else see a problem there? something HAS to give.