chart, page-49

"China Property Bubble" is probably correct if you view return on investment on Western methodology / principles.

I have worked for Chinese, their mindset is very different to Westerners.

They plan for the next generation, whereas we think of the next annual report performance.

No one on the planet would be building some of the infrastructure that these guys have.

http://en.wikipedia.org/wiki/Shanghai_Maglev_Train
http://en.wikipedia.org/wiki/Three_Gorges_Dam

http://www.businessinsider.com/giant-chinese-infrastructure-projects-2011-6#102-million-the-pingtang-telescope-will-be-the-worlds-largest-radio-telescope-when-completed-in-2016-1