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Senior Contributor

Re: Did you see that?

You have to remember that this is China.   The government probably had these cities built thinking they would rule the world in manufacturing.   China sometimes places the cart before the horse.   One of my buddies works in the golf course industry and he has been over there several times, he says private individuals don't own property but you buy the rights to use the property, who ever has the most money wins.   There is a story about an amusement park in China that was built and never opened.  The local farmers are now planting crops inside the park between the buildings and what not.  

 

 

http://www.theatlantic.com/infocus/2011/12/chinas-abandoned-wonderland/100207/

 

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Veteran Advisor

Re: Did you see that?

One question, do we have failed businesses and cities that have been built and are sitting idle??? In terms of cities, I think Detroit, some cities in Florida, East Chicago, Gary, Indiana....etc. that were built when businesses were thriving and now they aren't.  What is so astonishing???

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Contributor

Re: Did you see that?

Here in Illinois, our bankrupt state is teaming up with our bankrupt federal government to build a billion dollar high speed rail system that nobody is going to ride, all with money borrowed from China.  Would like to see 60 minutes do a story on that.  Might just be coincidence that the president and transportation secretary are both from Illinois.

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Senior Contributor

Re: Did you see that?

I just watched the 60 minute story.  What is astonishing is that according to the story there is familys that have invest multi generation savings in the housing markets. Whats astonishing is they built theses cities a so called investment, for money that doesn't exsists.   What really makes me upset is they come here buy and buy all the steel out of this country to make ghost town.   And this country stood by and let it happen.  American's made China, People like Walmart (after sam died) and others said we sell cheap, by undermining this country in the process.  

 

I'm watching some of the web extra's on 60 minute websites. 

I'm happy and impressed by the billionaires that where made in China over the last 20 years.  BUT,  I don't think it will last.   The Chinese billionaires got in on the bottom, and rode it to the top.  

Is detroit a ghost town, for what I can tell it isn't good.  But they didn't build houses and sell them with no one living in them.  Detroit went down becaues of poor economics in this country.  In my own home town we have an abandon building that use to make canned vegetables and soup.  It was big for the area.  Its been sitting empty for the past 30 years at least.  

 

China is over,  I don't think they will lead the world in the 21st century. 10% growth cannot be sustained forever.  ( I know it has been for the past 10 years or so)   Its foolish to think that it can.   If there is social unrest over there, CHina might have to shut their doors again to contain what is going on.  Maybe their million man army is to keep domestic control.  

 

If China fails it will hurt agriculture, but the United States and Germany will come out ahead as a whole. 

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Senior Contributor

Re: Did you see that?

http://www.bloomberg.com/news/2013-03-04/michigan-governor-s-move-sets-detroit-takeover-in-motion.ht...

 

What's the difference between China and Detroit?   Not a lot,  apparently.  China doesn't have a professional football team,  either, lol.

 

 

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Re: Did you see that?

Well.... rather have them doing that than going to the next step which would be to take a page from the US' book and decide to stimulate the economy with a huge arms buildup.

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Senior Advisor

Re: Ho hum …..

I don't expect to see China go belly up. Even if they hit some rough patches I don't see major consequences for the grain trade because it just doesn't work that way. If there are economic problems in a centrally governed country they always keep the food train going as a number 1 priority to keep people off the streets.

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Honored Advisor

Re: Ho hum …..

Don't think China going belly up was the point. If a very signifacant portion of their affluent section of society gets to go to "mark to true value" or decide to all run for the exit at the same time. It might not take the country down but purchasing power will be dimished as diets reveret back to "a cup of rice and a fish head". for a few years.

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Honored Advisor

Re: Ho hum …..

More wheat or rice and less beans.  That kind of change would be an indicator of where they are rather than their "anouncements".

 

The amount of beans they have bought in the last 18 months is impressive.

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Senior Advisor

Re: Ho hum …..

That's not how it works in China or elsewhere. It happens eventually in severely failed states like Zimbabwe, or others. 

 

Food and dietary advances are a high priority in China and won't be downgraded. 

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