Quote:
Originally Posted by BlackCrayon
china's economy is largely fake, as is the value of their money. they are purposely undervaluing it, not sure what will happen when they stop doing that.
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To a degree you are somewhat correct in saying this. After speaking to a few Chinese business people on this their explanation of these 65 million homes is this....China is a centralized Communist Government with all the power in the hands of those in charge, so these people that control the government contract all construction out to companies owned by their relatives. What has happened is there is no longer any demand for any more construction of houses, but these corrupt officials just keep building houses for no-one because they are making billions through the construction company owned by their relatives. On that basis, the China economy is somewhat fake and is a train wreck waiting to happen.