"Dwarfing even the $2 trillion borrowed for the Railway Ministry’s high-speed networks since 2008, and the thousands of kilometres of 4–6 lane toll roads with barely a vehicle on them, China’s building binge is the most striking example of what Prime Minister Wen Jiabao famously, but impotently, denounced in 2007 as the country’s “unbalanced, unstable, uncoordinated and unsustainable” model of economic development. Now, with house prices and sales sagging in response to government restrictions aimed at deflating history’s biggest ever property bubble, and with local governments as deep in bad debt as the developers, I asked the businessman
what was to prevent the bubble actually bursting, in a spectacular financial explosion? "
posted by vidur
on Jun 21, 2012 -
46 comments
A Glimpse of the World All across Africa, new tracks are being laid, highways built, ports deepened,
commercial contracts signed -- all on an unprecedented scale, and led by China, whose
appetite for commodities seems
insatiable. Do China's grand designs promise the transformation, at last, of a star-crossed continent? Or merely its exploitation?
The author travels deep into the heart of Africa, searching for answers.
[more inside]
posted by kliuless
on Apr 26, 2010 -
20 comments
Do you have a yearning to be online? Do you suffer from difficulty concentrating or sleeping, irritation, or mental or physical distress? According to doctors in China, you might have an
internet addiction.
[more inside]
posted by DiscourseMarker
on Nov 10, 2008 -
25 comments