Chatting with a close friend over the phone, I was surprised (or not) to hear that he is buying Dollar; and thinking China is going to face some pretty tough problems. Even though the houses were purchased by "real money", rather than "mortgage", people will stop spending once their biggest, sometime only, asset shrink its value by 30%, if that does happen.
Will Chinese government do whatever it takes to prevent that from happening? Maybe, I think.
Will Chinese government do whatever it takes to prevent that from happening? Maybe, I think.
