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China's property bubble set to burst

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    #2
    Woofstuff
    Closed Accounts Posts: 239 ✭✭Woofstuff


    IrishDownUnder wrote: »
    Is China's property bubble set to burst and what will it mean for Australia

    60 Minutes Report last night on Chinese Ghost Cities








    Links aren`t showing up, for me, anyhow.


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    #3
    rightyabe
    Registered Users Posts: 812 ✭✭✭rightyabe


    Ghost cities..Pfffft....It'll never beat a ghost estate in Donegal;-)


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    #4
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    rightyabe wrote: »
    Ghost cities..Pfffft....It'll never beat a ghost estate in Donegal;-)

    Meh I'm sick of recession running , if the wave collapses here well we may as well face it here.


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    #5
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    Zambia wrote: »
    Meh I'm sick of recession running , if the wave collapses here well we may as well face it here.
    Far better climate to be unemployed in.


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    #6
    6541
    Registered Users Posts: 1,949 ✭✭✭6541


    Just wondering in General is there loads of recession talk going on now ???


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    #7
    Coileach dearg
    Registered Users Posts: 416 ✭✭Coileach dearg


    Well aren't we lucky somebody watches 60 minutes or we wouldn't have known about this at all...


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    #8
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    WA premier Colin Barnett
    Mr Barnett said the days of rapid growth in Chinese steel production had finished, and he believed there would be no major expansion in the Pilbara iron ore industry once the present rounds by BHP Billiton, Rio Tinto and Fortescue Metals were completed.
    http://www.theaustralian.com.au/business/in-depth/coal-facing-a-structural-decline/story-fnivd8cj-1226671643971
    It's certainly the end of the mining expansion, how that affects the rest of the economy remains to be seen but the mood music isn't partymix.


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    #9
    tipptom
    Registered Users Posts: 4,219 ✭✭✭tipptom


    Where Johnny and his pony tail goes,trouble sure to follow.


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    #10
    ifeelill
    Registered Users Posts: 502 ✭✭✭ifeelill


    Economists are expecting a consolidation effect on employment, where there wont be massive vacancies but small and stable gains. This will in turn force wages downward or ensure that they plateau.

    Dont go running to the life vests anytime soon


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