Friday, December 10, 2010

Adam Smith's Revenge in China?

Tom Friedman, call your office.

"There are empty cities."

And this is coming from a guy who was an Obama supporter, not some wild-eyed right winger.



Construction = 60+% of Chinese GDP
Exports = ~5% of GDP
"...run-away real estate market..."
"...Adam Smith's gonna get his revenge..."

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