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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: B Tate who wrote (5527)	8/14/1998 7:45:00 AM
From: Liatris Spicata	Read Replies (1) \| Respond to of 9980

B- <<MAJOR, MAJOR construction going on in all locations I visited>> Consider Shanghai- the Pudong Development Area, specifically. It has been reported from a reliable source that total office space there in 1997 was 13.5 million square feet- five times that at the end of 1994- but about 70% of it is vacant. That sounds like an asset bubble the likes of which makes Tokyo of 1990 look like a conservatively managed real estate scene. All those building cranes you saw were financed on borrowed money, many of which will end up as non-performing loans. Larry