there is 'extra' accomodation for 200 million people in China...
they keep building under a premise that it is cheaper to do i now while their currency is tied to a US dollar !
afterwards (when it is floated or semi floated) it will allegedly be more expensive (in US bucks) to build so the speculators are playing the 'exchange game'...
just goes to show how 'exposed' our behinds are to China's whims !
one decision of central comitee and Oz is in recession !
one refusal to compromise with them on some economic matter and ... we're in recession !
one...(get the pattern?)
would you like to be leveraged up to your neck in that atmosphere ?
