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RE: China is selling US real estates while world economy is contracting
Dear @worldfinances
Amazing piece of work guys. I'm following any news from china and their property market as much as I can and reading your post was very thrilling :)
Would you happen to know what caused Chinese economy bull run in past few years? There must be some real reasons why their economy started booming so far in recent years?
house prices in China's major cities are among the most expensive in the world!
It's worth to mention that "rental culture" doesnt exist in China. So most of purchased appartments are nothing more than "store of value". Very speculative.
Yours
Piotr
You are right. Over 90% of flats in China are bought up. But over 20% of all bought appartments are bought by the state! And those appartments are empty. They are doing that, so that they can make new loans, new credits, print new money... the only difference is that China and Russia want to make gold reserved money. But if this will keep up in same pace, China will end up same way as Japan. And..why their economy started booming? Which big corporations are doing business there? Apple, Microsoft, Nike, CitiCorp, Cisco Systems, Dell Computer, DHL, ..... all around 300 really big firms, doing business. For decades. And China took a lot of ideas and made their own software, their own cars, their own computers....and so on. Why wouldn't they prosper. But you can do that only for short time.
Thx for your comment @worldfinances
would you consider using enter sometimes to separate blocks of text? it would make reading much easier :)
yours
Piotr
That would be no problem. I just have to get used to that ;)
Dear @worldfinances
Thank you for your previous comment. And Im also sorry for such a late reply. I wonder if you even will read my comment ...
ps.
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Yours
Piotr