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Strategies & Market Trends : Natural Resource Stocks

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To: isopatch who started this subject	12/19/2003 12:48:51 PM
From: jimsioi	Read Replies (1) of 108811

More on China bubbles Saw this over on Kitco....amazingly high vacancy rate cited....watch for further news in this area; this may be the straw that breaks the reflationists back...shades of Asia 1997... Date: Fri Dec 19 2003 12:31 Flash (If you have ANY assets in China) ID#301318: - Part I: Investing in misery Analysts say developers are entangled in state-owned assets worth US$3.01 trillion, that's more than the country's annual gross domestic product ( GDP ) of $1.23 trillion. ... Some domestic reports indicate that unoccupied housing now has reached a record 120 million square meters, an increase of 30 plus million over three years ago. The national vacancy rate has jumped to 26 percent, quadruple the American figure, 8 times Hong Kong's and 2.5 times the international norm. ... In fact, realty and banking, which are closely linked, are the most corrupt industries in China. As Wei Jie, a prominent economist points out, property corruption has escalated the banks' financial risk, further weakening the state's debt-ridden financial system. ... atimes.com

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