-->Hello Sir:
I just returned from China. I was in Beijing and a satellite city, Wiyun. The
amount of new building is astounding. Wiyun looked like a combination of
Orange County and Las Vegas, except it all happened in the last three years.
It's as though someone poured water on the desert and up popped new modern
buildings.
We stayed in a new five star, 20 floor hotel--marble floors, three
restaurants, 600 thread count sheets... Nice. The entire week we were in
Wiyun I saw only four other people (besides the abundant staff) in the
hotel. Behind it was another taller modern building. It was residential
condominium. At night only one of the windows had lights. Empty. The main
street was at least one mile long, lined entirely with new modern buildings.
Most were empty.
I used to be in the real estate business. I gotta wonder if China isn't
setting itself up for a giant fall. I don't doubt that the economic future
of China looks very bright long term, and I wouldn't put any of my money
there right now.
Nachwort: Herr Pierer und Herr Schrempp solche Grüsse geben mir ernsthaft zu
denken! Vielleicht lauert da ein landesweiter Chapter 11 und erst dann würde ich
dort investieren.
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