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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: t4texas who wrote (9680)	3/8/2004 2:42:30 AM
From: rubed	Read Replies (4) of 110194

OT response but I won't burden the thread with much more...PM me if you want anymore info. I am usually with government or industry people in the countryside but I can't say I worry much in any case. China is such a safe country compared to the rest of the world especially if you are a foreigner - heaven compared to working in Africa or Latin America where you have to worry about your life on a daily basis and safer than North America by far as well. Sounds like maybe in your case they were worried about you getting lost by yourself which is certainly a problem when you can't read the signs ... but even that has gotten a lot better. Its a lot easier navigating around Beijing than someplace like Moscow these days. God you can see the overcapacity in high end housing in Beijing though. They are overbuilding high end and underbuilding affordable housing. The pace is amazing (even more than normal amazing for China) and has picked up noticeably over the last few years. Luckily they can just recapitalize the banks rather than have anyone actually pay back the money... rents are down though still high and there is a ton more rental to come on stream given the amount of cranes up and lag time in these projects. A couple of other China comments while I am rambling: 1. You can really see the increase in wealth in the cities these days as well as the internationalization of the urban Chinese. Restaurants I used to go to in Beijing a few years ago filled with foreigners (and foreign prices) are often predominantly Chinese now. They have money and a starting to spend. 2. As much as the government makes up a lot of statistics, the car growth is spot on. The urban middle class, including people I work with, have started buying in a big way as they have the money and with SARS it made a whole lot of sense. Hope I didn't bore anyone with that. rube

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