This isn’t news at the moment. The US economy taking a major plunge and dragging down all the world’s markets is. However, this is a powder keg hiding in the corner of the room that could affect all of us one day.
I was talking to a neighbour over the weekend about the tanking US economy and it reminded him of this video he had just recently seen. So he emailed me the link. It looks like the piece from Dateline in Australia is from earlier this year, but it is still quite pertinent.
When I lived in China over 10 years ago, the country was already steaming ahead with new construction. It looks like construction has gotten out of control as the government tries to keep their GDP rolling along. With all these surplus residential apartments out of the reach of the average Chinese citizen, what is going to happen?