Chanos Schools NBC

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Chanos Schools NBC

Hommes
C's exports are only 5% of it's economy. Construction of empty apartment and ghost cities is 60%

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Big Ass MBA Around Town
Aw come on Hommes, this is old news. This has been predicted for 18 months now. The "C Story" is exactly all that and not a lot more. The PR firms must have been making a fortune over the last decade keeping the pumping going. Now the people who can't even afford an apartment with 30 years double income must be feeling the pinch and feeling left out as those empty cities just sit there and with demographics, who exactly is going to buy them now?
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Vence
Who's going to buy them?

All those single men who want to show off their apartments to get a wife - that's who - that is, if they don't go to the Phillipines first.

http://mba-underground.686460.n3.nabble.com/Chinese-Men-Look-For-Love-Elsewhere-tp2058378p2058378.html

But even for guys who want to buy an apartment to get a wife, there's a chicken/egg problem isn't there? What I don't get is how they can afford an apartment it takes a couple 30 years to pay off. How do they get the loans? Either you have to be in the top 1% filthy stinking rich, or you as a single guy don't stand a chance even buying an apartment.

The exports figure Chanos quotes is actually right. If you look at the iPod they earn about 5 dollars for assembly - the rest of the $245 dollars is earned by J, K, and even US manufacturers who make the components. Assembly is a dead end game and next year, Cambodia or Vietnam will be able to do it cheaper and better anyway. It's been like that in the garment business for years.
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