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Gold/Mining/Energy : Precious and Base Metal Investing

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To: loantech who wrote (31001)	9/29/2004 11:12:49 AM
From: Michael Bidder	Read Replies (2) of 39344

Foreigners are buying property in China. The Chinese government is encouraging it at some level. ( I know of one sale of 5 apartments.) It's not advertised and its' very corrupt as are most financial transactions. The sale doesn’t' go to the highest bidder in most cases. It usually goes to those who are connected and who kickback properly. I noticed something odd. Apartments abound out of proportion to business. In North America when you drive through a large City you see business after business. (99% are profitable) The ratio of business to human dwellings is higher than what I see here, much higher. It tells me the economy is not real. It’s a built up on something without depth. China will have to have its crash at some point. My guide who knows the economy from a personal perspective thinks the economic miracle won't falter till after the 2008 Olympics. (He concedes it may falter at any time.) I think he’s right and China can keep the growth going for at least three more years. I hope so for our sake.

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