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He added that Chinese firms and households had purchased more than 300 tonnes of gold last year, and that it would have been hard for the government to buy any more with foreign reserve funds.
This is one of the big reasons why some people like physical gold: It's this valuable thing that you can actually hold in your hand. Unlike savings and brokerage accounts, gold can't disappear with a few taps on a keyboard.
Some real estate analysts foresee another three years of price declines as the massive inventory of underwater and foreclosed homes is slowly sold off, and we need look no further than the basics of supply and demand to understand why: Analysts estimate that as many as 12 million more properties will be put up for sale over the next few years. If about 4 million homes are sold annually, then it would take three years to clear the backlog.
They ain't making any more of the stuff. - Will Rogers on buying land.
Looking at the bigger picture, China's government is motivated by the goal of social harmony in the Chinese society. It knows that if it does not achieve this goal, there will be social unrest and protests. This is the goal behind the "protect 8" policy of maintaining at least an 8% growth rate in the annual GDP.
Originally posted by enlighteneddante
It would be even more shocking if China DIDN'T surpass us, honestly. I'm really not too worried though, seeing as how an individual in China brings in less than $4,000 a year on average.
With their one child policy creating a situation where 2 parents need to rely on 1 child to support them, their population is going to age rapidly like Japan's. This will create additional problems as well. Their military is outdated and compared to ours, is not a threat. Who knows what the future will hold in that regard, but who knows what military secrets we have locked away?
Frankly, I'm not scared, this is to be expected.