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RealEconTV

Business news without the bullshit

Bubble, what bubble?

China is perfectly sane, right?

If blocked, click here to watch on YouTube
Al Jazeera , China , ghost cities , Inner Mongolia , Melissa Chan , Ordos , real estate bubble

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Remember when Japan
was going to take over the world?

It wasn't that long ago.

Japan, due to its superior intelligence, diligence and work ethic was poised to take over the world - then it marched straight into an economic swamp from which it has yet to emerge twenty years later.

I think of that every time someone lectures me on the inevitable triumph of China.

Really?

Being the lowest cost producer of junk and entirely dependent on export markets is a good niche to fit?

Having a population that is overwhelmingly rural and desperately poor - capable of violence and with nothing to lose - is a good position to be in?

Being run by a group of larcenous, power-mad psychopaths who reward their friends and jail and murder their enemies and spend money like water is a good form of government? (Not that our current government is much better.)

China is a financial and social disaster waiting to happen and the proliferation of ghost cities, populated by no one, with empty apartments trading hands like beanie babies is just the tip of the iceberg of their current societal madness.

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