[TheForge] Steel Prices

[GHS]

When you factor in that:
1. These folks probably are not stupid.
2. This is a communist and potentially hostile one at that.
3. Once this stuff is built and " bought by foreigners" it can be 
nationalized when the time comes. (see #2)

Then the scenario gets even more interesting.

Mike Graf

Gladish Family wrote:

>>It's sort of a classic joke on the conservatives who have been
>>slavering  for decades over the opportunity to exploit the potentially
>>vast market that China represents.
> 
> 
> I have an acquaintance who works for one of the major money outfits, whose
> job is buying non-performing loans in China. To hear him tell it, the gov.
> of China is pushing unsound money lending and building practices to the
> point where the banking system is only held together by governmental decree.
> There are huge projects all over the country that aren't and never will be
> occupied, built with borrowed money, being sold to foreigners (us, in many
> cases) for pennies on the dollar.
> The private sector is booming for now, but it sounds like the banks are
> really far out on a limb. Can't last.
> Andy G.
> 
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