#1
China has been building 10 new towns and cities a year to raise their GDP, which is about 9.5% at the moment. Though these towns have little or no residents and the rent is unobtainable for the average Chinese citizen.

Here's the video.

It's a bit long but very interesting.

Eventually this will catch up with them, in 15 or maybe 20 years. It'll be much worse than the American housing situation right now.
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#2
And if the Chinese housing market collapses then they're gonna want all our debt back. It will be a global catastrophe.
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#3
Quote by rgrockr
And if the Chinese housing market collapses then they're gonna want all our debt back. It will be a global catastrophe.

It'll be several years coming potentially.

Also today I learned that their high speed rail system could ruin their economy

Cost them over $1 trillion. They made it out of shitty metals and shitty concrete too so some parts of the rail won't be usable soon and they can't go max speed.

They can only run about 130 MPH or something around that, though they should be up at over 200 MPH.
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#4
even at that speed it still trounces national rail
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#6
They should make the prices for rent cheaper, any money coming in is better than having them empty with no money coming in.
#7
Quote by digman50
They should make the prices for rent cheaper, any money coming in is better than having them empty with no money coming in.

That would go down as a loss of money for the Chinese government. They wouldn't want that on the books.
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kkoo
#10
They should really stop until people actually move into these Cities, also it doesn't help that the rent for most of these new cities is way too high for the average Chinese person.
#11
Quote by rgrockr
And if the Chinese housing market collapses then they're gonna want all our debt back. It will be a global catastrophe.


But by then, our dollar might be better and their currency worse.
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#12
Chinese housing bubbles? Guess they wouldn't have to be very big....
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#13
Imagine if China and Russia went to war against a united African continent...that would be a crazy war.
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#14
China should have seen what the housing bubble did to America. I knew they had impeding issues on the horizon, but I had no idea it was this bad.
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#15
They are having their period of prosperity right now, a bit behind the western nations. Just a matter of time when the bubble blows and everything goes to shit.
#17
They're only little people if they demand money back we can just pat them on the head and tell them were sorry we can't pay them just yet.
#19
Quote by CannedBullets
They should really stop until people actually move into these Cities, also it doesn't help that the rent for most of these new cities is way too high for the average Chinese person.

They won't stop because they want to keep their GDP up. The easiest way to do that is build.
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