More video of Chinese spectacular GDP "growth". Much of it, not all, is centrally planned fraud.
Clearly, given the number of vacant apartments, market clearing prices are not allowed. It adds to the mad destructiveness of the centrally planned economy. Yet, amazingly at roughly the 10 minute mark of the below video, one one person interviewed, who doesn't understand that it is government intervention that has caused the mess, calls for even more intervention.
(Thanks2PrashanthPerumal)
Central planning never seems to go out of style.
ReplyDeleteOne would think that ghost cities would be the last straw...time to throw in the towel.
Evidently not.
About 9:50 into the video, they interview a man who blames the Chinese housing crisis on "speculators" and pleads for the "government" to do something about it, especially making "affordable housing" a civil right. Funny how many Americans are just as clueless. Government isn't the solution, it's the problem!
ReplyDeleteIt's not amazing, it's what idiots do, heowever well intentioned.
ReplyDelete