Housing Bust in China? Foreign Affairs Says Yes
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  • Luke Lea

    “Instead of developing a more balanced, consumer-based economy . . .”

    Easier said than done.

    It would be interesting to know how many billboards there are across the Chinese countryside, especially outside the export manufacturing zones, and what percentage of the products advertised are produced in China.

    With a state-owned banking system, in particular, I think it would be hard to channel capital into indigenous manufacturing start-ups efficiently, or identify truly talented entrepreneurs as opposed to the cronies of the local party establishment.

    It all comes down to whether China truly has a market economy. I don’t know the answer.

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