Korean Job Discussion Forums

[World Traveler]

http://www.telegraph.co.uk/finance/comment/10044456/China-may-not-overtake-America-this-century-after-all.html

[Kuros]

No shit

[rollo]

Of course the numbers are fudged.

the latest trick, moving millions into cities, this is being done to prop up housing prices because of the overbuilding of Apartments by the party bosses. Almost all the big cities in china are buried in debt because of investments in building Apartments. Moving the rural poulation into urban areas is a way for them to get some of the money back.
this is a giant catastrope, Beijing already overcrwded is now an unlivable hell hole. Choked by killer smog it takes hours to take a short trip by car. buses and subway people packed like sardines, on a bus it can take thee hours to travel five kilometers,standing unable to move because of the packed in passengers.
A wages have risen china has lost its edge. They may be headed into a recession or depression. Inflation is runnig wild. this quarter prices jumped 2.5 %. Growth is actualy maybe 3% at best.

[Fox]

[rollo]

I asked myself that. Watched buses so packed that people had trouble breathing and the bus just sitting stuck in traffic. Of course many people do walk. Just so many people packed into the city. They are planning on moving hundreds of millions into urban areas. Sidewalks are like rugby scrums.

Not just in Beijing but all over China, similar to the Soviet Mao mass moning of whole populations.
There will be plagues from the filth, environmental disaster, building collapses, fires that kill thousands the whole ball of wax. It does not matter the bosses need to make money.
the bloom is off the rose, the easy money from cheap labor is gone and not coming back.

[schwa]

[augustine]

On the subject of traffic in China, I recently read about a traffic jam that lasted over 10 days in 2010. It created a mini-economy around it where people were charging ten times the normal price for a bottle of water. A ten day traffic jam...

[rollo]

One of the main expressways into Beijing had a series of jams that lasted for seeral weeks. That is probaly the one you are talking about. they woould get it cleared up and then it would jam up and yeah vendors were selling food and water to stranded drivers at out rageous prices.

You have to see chinese driving to understand. A mentally challenged chiken could drive better. It defies logic. I mean no offense to mentally challenged chickens.

[young_clinton]

It's good to see that the haughty demeanor and hubris of the Chinese is just that with nothing else to show. That probably applies to the Chinese military as well. Let's take out the concentration camps in North Korea. Who cares what the arrogant Chinese say, they're worthless. Actually let's take back Hong Kong and Macau as well.

Remember the EP3 Aries II incident when one of their fighter pilots ran into
the plane after flying back and forth and harassing it. Typical, nothing but mindless hubris.

[rockbilly]

The Chinese won't overtake anybody without higher wages.

Beijing could move its entire economic/monetary strategy in the direction of Social Credit and begin paying out some of the vast monies it's hoarding to teachers, civil servants, soldiers, and so on. Giant kick-start to the economy. But they won't do it because it's in the Chinese soul to scrimp and save and be ungenerous.

Socialism has served China pretty well. It's the "Chinese characteristics" that will doom them.

[rollo]

That big pile of cash that they are suposed to be sitting on, well it might not be there.

No one knows where the money is. It is easy to see that some has "Moved" over seas, look at Vancouver, San Fransico and other places.

More and more it looks like the cookie jar is empty and all that is left is debt.
What to watch this year is the inflation numbers!!

[Titus]

Haass can't be trusted under any circumstances and on any topic.

China is due for a serious correction. Not a collapse, but a correction. However, they may be able to smooth it over and see 4% rather than -4%, or at the very least convince everybody it is 2% by reporting 8%. Whatever the scenario, the China story is not over and the country is not exhausted. There are major issues with local/provincial debt but (neo-liberal economic theory is silly) these debts can be written off without blowing up the economy.

A good overview on this topic is on the website China Financial Markets (latest post) but the site is down atm.