CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

[touchring]

in January the state announced plans to make Hainan Island, and its provincial capital Sonya, an international tourist destination by 2020.

Within days of that announcement, Hainan's already booming real estate market went nuts - state media reported that in five days, 17 billion RMB ($US2.5 billion) worth of real estate was bought and sold, more than the entire sales for 2008. On some luxury resort developments, prices went up 60 percent in two weeks. Property prices on average leapt 30 percent in January.


I went to Clearwater Bay, a massive development with three golf courses, plans for a six and seven star hotel, luxury shopping malls.. Here, word is the top salesperson sold 1.3billion RMB (almost $US200m) last year. I didn't get to meet him - obviously he knew I couldn't afford the $US10 million for a seaside villa, or the $1.4 million for a four bedroom apartment. Instead, Dawson Zhou showed me around.


Prices, he said ,just keep on rising - an apartment here bought off the plan for $US700, 000 six months ago was now selling for $1.4 million. How long could the prices keep going up?


By John Vause, CNN
April 15, 2010 -- Updated 0406 GMT (1206 HKT

http://edition.cnn.com/2010/BUSINESS...covery.hainan/

[jr429]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

Ironically China is now capitalism gone crazy. People getting massively rich, and nothing to do with the money but show off to their other rich friends by buying luxury property... A culture being transformed to the haves and have nots...

[touchring]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

Ironically China is now capitalism gone crazy. People getting massively rich, and nothing to do with the money but show off to their other rich friends by buying luxury property... A culture being transformed to the haves and have nots...

The money came from America and Europe. Export surplus allows China to print half a trillion of extra money a year without currency depreciation (and there's no currency appreciation either) or loss of purchasing power. All this excess cash goes into real estate, luxury goods and commodities.

Now a monster is being created, one which the Chinese government cannot be seen as the one responsible for its demise. Hence, the resistance on changing monetary policy - and the corresponding exchange rate.

The surplus is needed to support this monster!

[GRG55]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

Ironically China is now capitalism gone crazy. People getting massively rich, and nothing to do with the money but show off to their other rich friends by buying luxury property... A culture being transformed to the haves and have nots...

"To get rich is glorious"
Deng Xiaoping

;)

[jtabeb]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

"To get rich is glorious"
Deng Xiaoping

;)

Not a sourced quote, but good if it is correct.

Here are some more Chinese "ideas".

1. avoid leading or forming faction in any international conflict, stay neutral in all circumstance, "Don't stick your head out"
2. do not try to lead an opinion in international politics, do not try to represent any interest group, stay away from any sphere of influence
3. avoid any trouble, controversy or antagonism in world politics, be humble but try not be humiliated, and even accept minor humiliation if you have to, "yield on small issues" in every possible occasion
4. concentrate on economic development
5. focus on forming a friendly relationship with ALL countries in the world, irrespective of the ideology of the countries you deal with. i.e., forget the old "party ideology"

[skyson]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

Not a sourced quote, but good if it is correct.

Here are some more Chinese "ideas".

1. avoid leading or forming faction in any international conflict, stay neutral in all circumstance, "Don't stick your head out"
2. do not try to lead an opinion in international politics, do not try to represent any interest group, stay away from any sphere of influence
3. avoid any trouble, controversy or antagonism in world politics, be humble but try not be humiliated, and even accept minor humiliation if you have to, "yield on small issues" in every possible occasion
4. concentrate on economic development
5. focus on forming a friendly relationship with ALL countries in the world, irrespective of the ideology of the countries you deal with. i.e., forget the old "party ideology"

The quote from Mr. Deng is correct. He did say that.

Jtabeb, you have some very interesting and true observation of the Chinese strategies. That is in direct contrast with anything the US or more broadly the NATO are doing. I have said before, you don't need guns for good business. In the long run, that is the model for a successful economy, nation, and civilization. Any wonder, why the Chinese civilization is the only one continuously surviving ancient civilization?

Was that your own observation, or the teaching of your military intelligence/strategy course? If your military/strategic planners recognize that approach, would that have any effects on your nation's future direction?

[jtabeb]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

Was that your own observation, or the teaching of your military intelligence/strategy course? If your military/strategic planners recognize that approach, would that have any effects on your nation's future direction?

Sorry, It's a great question, but I am not a policy maker. (I hope to be one someday, but that is a long, LONG, LONG! time away, if ever).

I would ask Bernanke and Geithner that question, if you get the chance.

[touchring]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

In the long run, that is the model for a successful economy, nation, and civilization. Any wonder, why the Chinese civilization is the only one continuously surviving ancient civilization?

First, you must check a bit of history. Although China has not been militarily aggressive for the last 2000 years or so, prior to that, China had the strongest army in the world and had military technology that were not used in Europe until the 13th century.

Historians agree that the current Han China race originated from a small region in the yellow river in north China around 2000 BC.



From there, the Han Chinese gradually expanded their territory, chasing out or integrating with indigenous tribes, and at its height during the Western Han Dynasty, China controlled territories reached over parts of Korea and Vietnam.



Military strength allowed China to retain and assimilate its territories through migration and intermarriages, and over 4000 years, almost everyone became assimilated and used the same written language and celebrated the same Chinese new year. Even Hong Kong that was once part of the Nanyue kingdom before it became part of China 2000 years ago became assimilated.

Vietnam and Korea were controlled by China for periods of couple hundred years, and became independent and though not entirely assimilated shared many aspect of the Chinese culture including language and customs.

[Raz]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

Not a sourced quote, but good if it is correct.

Here are some more Chinese "ideas".

1. avoid leading or forming faction in any international conflict, stay neutral in all circumstance, "Don't stick your head out"
2. do not try to lead an opinion in international politics, do not try to represent any interest group, stay away from any sphere of influence
3. avoid any trouble, controversy or antagonism in world politics, be humble but try not be humiliated, and even accept minor humiliation if you have to, "yield on small issues" in every possible occasion
4. concentrate on economic development
5. focus on forming a friendly relationship with ALL countries in the world, irrespective of the ideology of the countries you deal with. i.e., forget the old "party ideology"

Thanks for the summary, jtabeb.
It's a wise policy that seems to have escaped our public serpents for the past fifteen years, at least.

[jtabeb]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

First, you must check a bit of history. Although China has not been militarily aggressive for the last 2000 years or so, prior to that, China had the strongest army in the world and had military technology that were not used in Europe until the 13th century.

Historians agree that the current Han China race originated from a small region in the yellow river in north China around 2000 BC.



From there, the Han Chinese gradually expanded their territory, chasing out or integrating with indigenous tribes, and at its height during the Western Han Dynasty, China controlled territories reached over parts of Korea and Vietnam.



Military strength allowed China to retain and assimilate its territories through migration and intermarriages, and over 4000 years, almost everyone became assimilated and used the same written language and celebrated the same Chinese new year. Even Hong Kong that was once part of the Nanyue kingdom before it became part of China 2000 years ago became assimilated.

Vietnam and Korea were controlled by China for periods of couple hundred years, and became independent and though not entirely assimilated shared many aspect of the Chinese culture including language and customs.

The above maybe true, BUT "People who live in glass houses should not throw stones".


We in the US have no moral superiority with which to judge this history. Just look at our own treatment of Native Americans. We have a long way to go to live up to our own ideals. A long, LONG, way to go.

[ThePythonicCow]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

The above maybe true, BUT "People who live in glass houses should not throw stones".

When I read touchring's post, I didn't sense stone throwing, rather just a nicely illustrated quick summary of China's growth. All big nations start as little nations.

Fortunately it is the victors who write the main history books, allowing history to look more glorious than perhaps it deserves to be ;).

[Serge_Tomiko]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

The above maybe true, BUT "People who live in glass houses should not throw stones".


We in the US have no moral superiority with which to judge this history. Just look at our own treatment of Native Americans. We have a long way to go to live up to our own ideals. A long, LONG, way to go.

Both were a success. Extermination and forced assimilation work well.

This is why Native Americans sit on their reservations and get drunk, while La Raza plans a reconquista. The Spanish were a bit too accommodating in their imperial ambitions.

[touchring]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

When I read touchring's post, I didn't sense stone throwing, rather just a nicely illustrated quick summary of China's growth. All big nations start as little nations.

Fortunately it is the victors who write the main history books, allowing history to look more glorious than perhaps it deserves to be ;).

I'm trying to provide an answer to skyson's question of why China is the only antiquity empire that exists today. By existence i mean the continuation of language, writing, culture and people since antiquity.

[jpatter666]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

I'm trying to provide an answer to skyson's question of why China is the only antiquity empire that exists today. By existence i mean the continuation of language, writing, culture and people since antiquity.

I think Guns, Germs and Steel touched on that to some extent. Don't have my copy here but someone else might remember the references....

[skyson]

Re: CNN: On some luxury resort developments, prices went up 60 percent in two weeks.

First, you must check a bit of history. Although China has not been militarily aggressive for the last 2000 years or so, prior to that, China had the strongest army in the world and had military technology that were not used in Europe until the 13th century.

Historians agree that the current Han China race originated from a small region in the yellow river in north China around 2000 BC.Military strength allowed China to retain and assimilate its territories through migration and intermarriages, and over 4000 years, almost everyone became assimilated and used the same written language and celebrated the same Chinese new year. Even Hong Kong that was once part of the Nanyue kingdom before it became part of China 2000 years ago became assimilated.

Vietnam and Korea were controlled by China for periods of couple hundred years, and became independent and though not entirely assimilated shared many aspect of the Chinese culture including language and customs.

No, I was not trying to glorify China's past history. I was providing more cultural reflection on Jtabed's observation of current Chinese foreign policies.

Chinese people are mostly inward looking, which I believe mostly due to their own success in terms of economy, technology, and their social development. They truly believed that they were the "Central Kingdom", others in the world were simply "barbarians". Who needs to go on robbery spree whn you have everything you want?

In addition to the above "national psyche", there are deep roots in the Chinese culture for "un-expansionism" approach:

1. Rule of sage king(Wang Dao):

"If a sage becomes king, his government is called one of kingly government. According to Mencius and later Confucianists, there are two kinds of government. One is that of the wang or (sage) king; the other is that of the pa or military lord. These are completely different in kind. The government of a sage-king is carried on through moral instruction and education; that of a military lord is conducted through force and compulsion. The power of the wang government is moral, that of the pa government, physical. Mencius says in this connection: "He who uses force in the place of virtue is a pa. He who is virtuous and practices human-heartedness is a wang. When one subdues men by force, they do not submit to him in their hearts but only outwardly, because they have insufficient strength to resist. But when one gains followers by virtue, they are pleased in their hearts and will submit of themselves as did the seventy disciples to Confucius."

--A short history of Chinese philosophy

2. Doctrine of the Mean

"The mean is also described as the 'unwobbling pivot' or 'chung yung'. Chung means bent neither one way or another, and yung represents unchanging (The Great Digest and Unwobbling Pivot, 1951). In James Legge's translation of the text, the goal of the mean is to maintain balance and harmony from directing the mind to a state of constant equilibrium."

http://en.wikipedia.org/wiki/Zhong_Yong

What I am trying to say is that the current Chinese foreign policies have derived from their historical lessons, and cultrural backgrounds. And the longevity of their history speaks for itself - non-expansionism, non-intervenism, and pursuing of harmony are not only good for one's health, but good for the civilization as a whole.

As a side note, if you see a bullying kid, you should know that right approach is to look into his family history, his upbringing, and the belief and philosophy that were drilled into his brain.