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Date Posted: 14:37:58 04/15/10 Thu
Author: Shirley
Subject: Re: Hate to say it, but what I expect
In reply to: Paul Davis 's message, "Hate to say it, but what I expect" on 01:04:55 04/15/10 Thu

Paul, the other night I listened to an interesting discussion on Charlie Rose who had a British minister (I won't list his name lest I get it wrong) who has studies economics discussing China's economics. In a nutshell, he said China's GDP is actually far less than it was in 200 years ago and foreign investors are not going to reap what they hoped for.

He used the issue of building condominiums for the middle class with investor financing. Consider that those condos are 1,100 square feet, have no floors and no appliances. The average salary is $8,000-$9.000 per year for a one income family. For two, it would be approximately $15,000 and the condos cost $150,000 each, rendering them unattainable for a middle class family. Those figures stuck in my mind so is China building a shell game?

Also, they require US companies located there to share their technology with them! In essence, they're getting our technology on the cheap.

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