economist
Is there a real estate bubble? Well, we must first ask what prosperity is. The concept of prosperity is that you own two homes. We need to encourage the Chinese people to buy two homes, one to live in and the other one for vacation. When housing prices rise, it proves that people are earning more money. So it is a good thing that the home that you invested in previously is rising in value.
If I have the chance to make a recommendation to the Premier, I would say “Do not speak lightly on three things” — do not speak lightly about an overheated economy; do not speak lightly about a real estate bubble; do not speak lightly about a rising yuan. The indicators of the modernization of China is that Peking University professors own cars and villas.
Conservatively speaking, housing prices in the major Chinese cities such as hanghai, Beijing or Nanjing should rise three times in ten years’ time; boldly speaking, housing prices should rise 5 times.
The rich-poor gap in China is due not so much because the rich are too rich. It is because the poor are too poor. Since there are poor people in the cities, nequitable distribution of wealth occurs. We should not hate the rich. At the present, there are many holes in the tax collection system, so that some rich people are not paying tax in accordance with the regulations. Therefore, we need to perfect the tax collection system, as opposed to using the tax collection system to reduce wealth inequality.
The history of the Chinese stock market is like the English stock market in the 18th century. In a social environment without trust and responsibility, the stock market is better off shut down.
To cure poverty, you cure laziness first; to cure laziness, you have to apply ressure on people; to apply pressure on people, you apply pressure on the government officials first.
Nice Site layout for your blog. I am looking forward to reading more from you.
Tom Humes