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  • JW Najarian

    Most news about China is not true. Once again Duke you knock it out of the park.

    The media and politicians have stretched the truth to create lack minded fear. According to two, in the know, professionals I have spoken to lately, the China situation only means opportunity for those who have the balls and smarts to see it.

    I recently spoke with well known venture capital executive John Nelson from Cal Cap Partners and Professor Ann Lee Senior Fellow at Demos in N.Y. and author of “What the US can learn from China, about these issues.

    1. The housing bubble in China is not like ours in the slightest. They have to put 60% cash down to buy a home and overbuilding is being controlled as not to start a roller coaster of price and demand.
    2. We often hear that cheap labor is killing our manufacturing machine and this is true only to a degree. China buys more goods overseas, because the growing middle class is not looking for cheap China goods, but they are instead looking for the higher priced, better quality products from the west.
    3. The US has been using cheap labor in the form of Chinese for the railroads, slaves from Africa, scientists from Germany and Cheap labor from Mexico and South America for some time and we will continue to find ways to get it for less. This is a situation that did not just start happening.
    4. China needs cheaper workers too and I understand that countries like Vietnam may be doing more manufacturing for China at a more affordable rate than can be done in China itself.

    I am no expert so forgive the inaccuracies of the above statements.

    I can not say it better than the experts so check out their interviews on my site when you get a chance.

    JW Najarian
    http://www.CREPIG.com

  • Incorrect. That video was originally posted about 2 years ago. That building has been built for some time, almost 3 years if memory serves. All these videos getting youtube play in the last 2 weeks are people way late to the party on this subject.

    China has nothing but bullshit numbers. Sure, they build like crazy, but no Chinese citizens can afford to buy in these new cities (not buildings, cities). The whole point of this exercise is that the Chinese govt can have a tangible product that backs up their nonsense GDP growth.

    Unfortunately for those idiots, the increases in material use is driving up construction costs worldwide and causing massive CPI inflation in China. When rice (rice, in effing China) increases in cost by 40% in one year you have a huge problem.

    The govts choice to go after this gangbuster “growth” is further enslaving all but the richest and most well connected Chinese constituents.

    Google or Youtube China/Chinese ghost cities. Going back to 2008 you will find video proof of entire cities with no residents. This is what China builds. It’s bullshit.

    http://www.youtube.com/watch?v=5Vm7DRQ6tPU

    I understand the point of your headline, but that is like saying I should build cities of high rises in NW Texas. WTF is the point of that? No one will live there or be able to afford. Go ahead and build, wtf is the point of that? Build it and they will come. One day. Maybe. But the govt added a couple points to GDP and further screwed their people.