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	<title>Comments on: Real Estate Woes Increase Depth of China&#8217;s Slump</title>
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		<title>By: cm202bc</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-28175</link>
		<dc:creator>cm202bc</dc:creator>
		<pubDate>Thu, 04 Dec 2008 18:01:00 +0000</pubDate>
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		<description>@mxq&lt;br/&gt;&lt;br/&gt;I think a logically convincing narrative can be constructed that focuses on the sheer size of the country.  Large population allows the govt to place a low premium on individual lives.  The need to maintain central control over such a large country creates a bias in favor of infrastructure investment that keeps fiscal investment under central control when encouraging economic development.  Repetition over time becomes ingrained within culture and society.&lt;br/&gt;&lt;br/&gt;First problem with this interpretation is that its elite centric framework minimizes the influence of the masses, a hard sell in a country with a history of bottom-up elite substitution(revolutions).  Second problem is that it incites moralist whinging, as anon @751 kindly demonstrated.</description>
		<content:encoded><![CDATA[<p>@mxq</p>
<p>I think a logically convincing narrative can be constructed that focuses on the sheer size of the country.  Large population allows the govt to place a low premium on individual lives.  The need to maintain central control over such a large country creates a bias in favor of infrastructure investment that keeps fiscal investment under central control when encouraging economic development.  Repetition over time becomes ingrained within culture and society.</p>
<p>First problem with this interpretation is that its elite centric framework minimizes the influence of the masses, a hard sell in a country with a history of bottom-up elite substitution(revolutions).  Second problem is that it incites moralist whinging, as anon @751 kindly demonstrated.</p>
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		<title>By: ndk</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-28004</link>
		<dc:creator>ndk</dc:creator>
		<pubDate>Wed, 03 Dec 2008 04:14:00 +0000</pubDate>
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		<description>&lt;i&gt;Nice ignorant stereotype. So, how long have you lived in or studied China?&lt;/i&gt;&lt;br/&gt;&lt;br/&gt;I&#039;ve been there quite a few times and lived with some really welcoming, warm families who complained about the same thing.  I love the country and its people, but call it like I see it.&lt;br/&gt;&lt;br/&gt;&lt;a HREF=&quot;http://mhssn.igc.org/IJOEH_BrownIntro.pdf&quot; REL=&quot;nofollow&quot;&gt;Academic studies&lt;/a&gt; also have been done on the subject.</description>
		<content:encoded><![CDATA[<p><i>Nice ignorant stereotype. So, how long have you lived in or studied China?</i></p>
<p>I&#8217;ve been there quite a few times and lived with some really welcoming, warm families who complained about the same thing.  I love the country and its people, but call it like I see it.</p>
<p><a HREF="http://mhssn.igc.org/IJOEH_BrownIntro.pdf" REL="nofollow">Academic studies</a> also have been done on the subject.</p>
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		<title>By: purple</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27993</link>
		<dc:creator>purple</dc:creator>
		<pubDate>Wed, 03 Dec 2008 02:09:00 +0000</pubDate>
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		<description>A 2 trillion surplus isn&#039;t much in a nation of 1.3 billion. That can go pretty fast.&lt;br/&gt;&lt;br/&gt;They&#039;ll be OK for a few years, but beyond that time frame , continuing economic weakness will create extreme political volatility.&lt;br/&gt;&lt;br/&gt;But honestly, another worldwide depression is going to destabilize every country.</description>
		<content:encoded><![CDATA[<p>A 2 trillion surplus isn&#8217;t much in a nation of 1.3 billion. That can go pretty fast.</p>
<p>They&#8217;ll be OK for a few years, but beyond that time frame , continuing economic weakness will create extreme political volatility.</p>
<p>But honestly, another worldwide depression is going to destabilize every country.</p>
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		<title>By: tyaresun</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27992</link>
		<dc:creator>tyaresun</dc:creator>
		<pubDate>Wed, 03 Dec 2008 01:53:00 +0000</pubDate>
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		<description>FXP is really flailing, I suppose the market is really expecting a phenomenal second stimulus package.</description>
		<content:encoded><![CDATA[<p>FXP is really flailing, I suppose the market is really expecting a phenomenal second stimulus package.</p>
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		<title>By: Anonymous</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27984</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Wed, 03 Dec 2008 00:51:00 +0000</pubDate>
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		<description>&quot;The individual, their health, and their happiness just didn&#039;t seem all that important.&quot;&lt;br/&gt;&lt;br/&gt;Nice ignorant stereotype. So, how long have you lived in or studied China?</description>
		<content:encoded><![CDATA[<p>&#8220;The individual, their health, and their happiness just didn&#8217;t seem all that important.&#8221;</p>
<p>Nice ignorant stereotype. So, how long have you lived in or studied China?</p>
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		<title>By: mxq</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27977</link>
		<dc:creator>mxq</dc:creator>
		<pubDate>Tue, 02 Dec 2008 22:46:00 +0000</pubDate>
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		<description>&quot;The individual, their health, and their happiness just didn&#039;t seem all that important.&quot;&lt;br/&gt;&lt;br/&gt;And that&#039;s the paradox...it &lt;i&gt;is&lt;/i&gt; important b/c they save 25% of their paychecks to maintain health and happiness.&lt;br/&gt;&lt;br/&gt;mindnumbing.</description>
		<content:encoded><![CDATA[<p>&#8220;The individual, their health, and their happiness just didn&#8217;t seem all that important.&#8221;</p>
<p>And that&#8217;s the paradox&#8230;it <i>is</i> important b/c they save 25% of their paychecks to maintain health and happiness.</p>
<p>mindnumbing.</p>
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		<title>By: ndk</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27963</link>
		<dc:creator>ndk</dc:creator>
		<pubDate>Tue, 02 Dec 2008 19:38:00 +0000</pubDate>
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		<description>Agree with that, Yves.  They have a lot of new physical infrastructure built out already, even way out in the sticks.  Wonder what the next wave of development for China&#039;s going to be; it&#039;s not obvious to me, to be honest.&lt;br/&gt;&lt;br/&gt;&lt;i&gt;I&#039;m wondering if there is some sort of cultural or other reason why china refuses to address socialized healthcare (or any form of healthcare) with the same magnitude as it does with transportation?&lt;/i&gt;&lt;br/&gt;&lt;br/&gt;IMO, they have a ton of people, not many jobs, and a collective mentality.  The individual, their health, and their happiness just didn&#039;t seem all that important.</description>
		<content:encoded><![CDATA[<p>Agree with that, Yves.  They have a lot of new physical infrastructure built out already, even way out in the sticks.  Wonder what the next wave of development for China&#8217;s going to be; it&#8217;s not obvious to me, to be honest.</p>
<p><i>I&#8217;m wondering if there is some sort of cultural or other reason why china refuses to address socialized healthcare (or any form of healthcare) with the same magnitude as it does with transportation?</i></p>
<p>IMO, they have a ton of people, not many jobs, and a collective mentality.  The individual, their health, and their happiness just didn&#8217;t seem all that important.</p>
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		<title>By: mxq</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27959</link>
		<dc:creator>mxq</dc:creator>
		<pubDate>Tue, 02 Dec 2008 19:12:00 +0000</pubDate>
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		<description>I&#039;m wondering if there is some sort of cultural or other reason why china refuses to address socialized healthcare (or any form of healthcare) with the same magnitude as it does with transportation? (other than the fact that healthcare has little to do with the exporting sector)</description>
		<content:encoded><![CDATA[<p>I&#8217;m wondering if there is some sort of cultural or other reason why china refuses to address socialized healthcare (or any form of healthcare) with the same magnitude as it does with transportation? (other than the fact that healthcare has little to do with the exporting sector)</p>
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		<title>By: Yves Smith</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27957</link>
		<dc:creator>Yves Smith</dc:creator>
		<pubDate>Tue, 02 Dec 2008 19:02:00 +0000</pubDate>
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		<description>ndk,&lt;br/&gt;&lt;br/&gt;Issue is that  RE construction itself has been a massive drive of growth, not wealth effect as a driver of consumption, which has happened in advanced economies.</description>
		<content:encoded><![CDATA[<p>ndk,</p>
<p>Issue is that  RE construction itself has been a massive drive of growth, not wealth effect as a driver of consumption, which has happened in advanced economies.</p>
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		<title>By: Anonymous</title>
		<link>http://www.nakedcapitalism.com/2008/12/real-estate-woes-increase-depth-of.html#comment-27956</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Tue, 02 Dec 2008 19:01:00 +0000</pubDate>
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		<description>Building railroads can help the construction employment for a while.  If a extensive railroad net can be built in the next few years, then it will lower the transportation costs and save energy in the future.  Not a bad strategy for now.</description>
		<content:encoded><![CDATA[<p>Building railroads can help the construction employment for a while.  If a extensive railroad net can be built in the next few years, then it will lower the transportation costs and save energy in the future.  Not a bad strategy for now.</p>
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