China’s Housing Market on the Rebound?
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  • thibaud

    Chinese slowdown fears overblown, exports to Europe up, scorching weather in the US: looks like the best coal stocks (BTU, ANR) have hit bottom and are turning around.

    Probably also good news for Team Obama. Worst may be over, or at least, the “end of the beginning,” as Churchill put it.

  • Mrs. Davis

    How are prices doing in the empty cities?

  • Are there any error bars on that data? No? Then take it with a grain of salt.

    I’ve just been reading the memoir of Zhao Ziyang. He was the guy — Premier actually — who helped manage economic reform in China in the 1980’s (before being relieved of his duties for siding with the students during the Tienanmen Square occupation). At the time he said there were two factions. One wanted rapid growth in GDP, the other wanted an efficient allocation of capital resources to make sure the GDP wasn’t being wasted making things nobody wanted or needed.

    I wonder if those same two factions aren’t still battling it out? We’ll know if more freeways and apartment towers start going up.

    Meanwhile, did you hear there is a worker shortage in the export zone? Apparently the reason is that real wages (after inflation) aren’t high enough to attract internal migrants from the interior. What is happening to their real standard of living, is it rising or falling? Nobody knows. But if capital isn’t being allocated efficiently there’s a good chance — in fact a certainty — that living standards aren’t rising as fast as the official statistics.

    You can’t trust anything the Chinese government says.

  • Ed

    Does the phrase”kicking the can down the road” apply here? Just sayin’.

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