Of course those Chinese living in subsistence or poverty in rural areas and cities throughout China - which is still most of the population - want a middle-class life in the cities. But just like everyone living in poverty around the world aspires for an improved life for them and their family, only a small minority will ever achieve it.
It's not a case of 'build them and they will come'. Only those who can afford to live in these new and growing cities can come. Building more and more will only worsen the growing debt risks in China - both public and private.
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Of course those Chinese living in subsistence or poverty in...
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Dr. Hartley Atkinson, MD
Dr. Hartley Atkinson
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