China is Okay

[JohnB]

interesting take on the geo- political/ economic China scenario that presents itself daily in the Western press. the worrisome thing of our Western economic standards causally dismisses China's unique advantage of having a lot of monies available to do what they want in as little time as it takes. The Chinese can make a shit load of mistakes, pay the price, do whatever it takes..again.

http://www.project-syndicate.org/commentary/china-is-okay-by-stephen-s--roach
"...Reports of ghost cities, bridges to nowhere, and empty new airports are fueling concern among Western analysts that an unbalanced Chinese economy cannot rebound as it did in the second half of 2009. With fixed investment nearing the unprecedented threshold of 50% of GDP, they fear that another investment-led fiscal stimulus will only hasten the inevitable China-collapse scenario.
CommentsBut the pessimists’ hype overlooks one of the most important drivers of China’s modernization: the greatest urbanization story the world has ever seen. In 2011, the urban share of the Chinese population surpassed 50% for the first time, reaching 51.3%, compared to less than 20% in 1980. Moreover, according to OECD projections, China’s already burgeoning urban population should expand by more than 300 million by 2030 – an increment almost equal to the current population of the United States. With rural-to-urban migration averaging 15 to 20 million people per year, today’s so-called ghost cities quickly become tomorrow’s thriving metropolitan areas..."

[Willy The Londoner]

Once the new President is installed early in 2013 that will be the start of a New era and we will see which way we will be heading then.  Westerners call them 'ghost cities' here they are regarded as being ready for the World finanacial downturn to end. Then these places will be up and ready to go.

In my city, small by Chinese standards the new roads are very wide. Not needed at present but built that way to accommodate traffic in the future.

Willy

[maxx]

Willy they did the same thing in Mymar.They built these huge roads.But they don't have anybody to drive on them.So what good do they do.The Cities in China are called ghost cities for a reason.Nobody is going to live there. because nobody can afford to live there.It's called simple economics.

If Joe gets laied off from his job.At the factory.And can't find another job.For say six months.He isn't buying a new house.Especially if Joe doesn't have unemployment insurance.Which last I heard China doesn't worry about things like that.Poor Joe is worried about feeding his family.And keeping the lights and water turned on.And hoping like hell.That the city government.That Joe lives in doesn't knock on the door one day and tell him to pack his rags and get the hell out.Because the city has sold the land to some developer.Who is going to build new houses.And raise the prices.Of the new houses so high that Joe will never be able to afford it.Even if Joe can find a new job.Making the same money that he was before.

[Willy The Londoner]

I could answer you in full but have said I will not knock America until after the election.   

When the upturn in the worlds finances comes is the World ready for it?  It is here. 

Remember where all the financial problems started, it was definately not here.  Just think where the New China has got to in just three Presidencies.  In another three they will be top of the tree.  Where has the USA got in three Presidencies or the UK with three Prime ministers.  Down the pan is where they are. 

Things are improving here in many ways and now local disputes are being dealt with differently from just a few years ago because the internet cannot be completely controlled as it was.

Willy

[ron]

I know this much  in American cities it is sad they do not have the fore sight to make some of these bridges and streets wider. Instead they will reissue money to extend them .There is some kind of saying build it and they will come.

[Philip]

To all the doom-mongers, I would just reply in the words of R.E.M. - "It's the end of the the world as we know it (and I feel fine)"

[lfputman3]

The theory, is that now that Bo Xilai and his faction is sunk, with Xi Jinping as the incoming, China will continue to open itself. I should point out though, the "ghost cities". most of them are built in areas where they expect no one to move to. The real reason they are called ghost cities. It gives construction workers jobs. They are funded by Beijing, not developers. Now I imagine if Bo Xilai had come to power in Beijing, people would be moved to those cities, China would be "re-educated" again and Willy would be told to move back to Jolly old England.

Good thing they courts ruled in your favor Willy!

[Willy The Londoner]

China would be "re-educated" again and Willy would be told to move back to Jolly old England.

Good thing they courts ruled in your favor Willy!

Lucky my Dad set me up for life in China after he spent many years here.  He told me the maxim at the higher levels is 'Whats mine is mine. What's you'res we share!

Willy

[lfputman3]

Lucky my Dad set me up for life in China after he spent many years here.  He told me the maxim at the higher levels is 'Whats mine is mine. What's you'res we share!

Willy

I'm going to get screamed at by some for being political, yet again, but I fear with the thought processes occurring in the Americas, we will have to learn to say the same thing before too long.

Lloyd

[Willy The Londoner]

I'm going to get screamed at by some for being political, yet again, but I fear with the thought processes occurring in the Americas, we will have to learn to say the same thing before too long.

Lloyd

Before long?? I thought that your rich politicians have been doing it for years.  Same as the UK, 14 elected people form the Cabinet that makes all the decisions and 13 are millionaires! What do they know of struggling to get by.  Not just in China I have seen such poverty In India and African and many other places and I am moved by the effort people have to endure to scratch an existence.

Willy