In rush to urbanize, China flattens 700 mountains

[LazyBoy]

http://www.usatoday.com/story/news/w...ening/1881505/

China's rapid shift from a rural to an urban society is staggering. In 12 years, China will have 221 cities with 1 million inhabitants each compared with 35 cities of that size in Europe today, according to McKinsey Global Institute. By then China is also expected to have 23 cities with more than 5 million people each.

By 2030, China's cities will be home to 1 billion people, or one in every eight people on earth, Miller says. China will surpass the United States and cement its position as the world's largest economy if it urbanizes its once-agrarian population successfully, he says. "But if they get it wrong, China could spend the next 20 years languishing in middle-income torpor, its cities pockmarked by giant slums."

[touchring]

Re: In rush to urbanize, China flattens 700 mountains

By 2030, China's cities will be home to 1 billion people, or one in every eight people on earth, Miller says. China will surpass the United States and cement its position as the world's largest economy if it urbanizes its once-agrarian population successfully, he says. "But if they get it wrong, China could spend the next 20 years languishing in middle-income torpor, its cities pockmarked by giant slums."

Or worst, famine. With the way the environment and farmland is being destroyed.

[aaron]

Re: In rush to urbanize, China flattens 700 mountains

I doubt you can extrapolate out that far, but it could work out for them so long as they still have some strong communists in the party.

Right around the time that the U.S. dollar dies, they can blame the U.S. for all their problems and "reset" their economy, effectively wiping out ALL the debt and giving all the empty houses to the people. If control is tight enough, then they may even get away with it without any bloodshed. I doubt our reset will go as well. They kicked the bourgeois out 60 years ago, and can certainly do it again if needed. It seems the government, at any time, could call in any loan, for example. There will be some people who can pay them back, but most can be "foreclosed" on. Perhaps they give an exemption for your primary residence, for example to keep the producers around.

China's accumulated gold reserves and production capability will ensure a steady inflow of necessities during the crisis period. The rowdy peasants and labor will be assuaged with houses and grain. The "owners" will be screwed, but they should have gold for protection ( they are certainly be encouraged to purchase it) as well and will likely come out of it all with their lives intact. They know the horrors of their recent past with the cultural revolution and all that. Propaganda is strong.

[touchring]

Re: In rush to urbanize, China flattens 700 mountains

China's accumulated gold reserves and production capability will ensure a steady inflow of necessities during the crisis period. The rowdy peasants and labor will be assuaged with houses and grain. The "owners" will be screwed, but they should have gold for protection ( they are certainly be encouraged to purchase it) as well and will likely come out of it all with their lives intact. They know the horrors of their recent past with the cultural revolution and all that. Propaganda is strong.

I'm not so sure if gold has that kind of effect in China.

Gold is not really in fashion in China among the young. White gold (hell, why would people make it white!) and in recent times, platinum is getting popular. Fact is yellow don't look cool on yellow skin.

The Indians though, love gold!

LOL

[ProdigyofZen]

Re: In rush to urbanize, China flattens 700 mountains

I'm not so sure if gold has that kind of effect in China.

Gold is not really in fashion in China among the young. White gold (hell, why would people make it white!) and in recent times, platinum is getting popular. Fact is yellow don't look cool on yellow skin.

The Indians though, love gold!

LOL

The Chinese for the most part do not buy gold to wear as jewelry like the Indians.

It is common practice for the parents of children getting married to buy gold coins to give to each child.

[GRG55]

Re: In rush to urbanize, China flattens 700 mountains

The Chinese for the most part do not buy gold to wear as jewelry like the Indians.

It is common practice for the parents of children getting married to buy gold coins to give to each child.

As touchring pointed out...the times they are a changin'. Even in China :-)

Chinese New Year 2013 - Jewelry Trends

Published Date: 19th Jan, 2013

According to Chinese tradition, friends and relatives usher in New Year with gifting and receiving gifts, and gifting of jewelry is one of the customs...

...Chinese are exploring the world and with more Chinese studying and living overseas, they have developed a taste for different types of metal. Earlier, only yellow gold was popular, but today youngsters are seen showing preference to metals like - platinum, white gold, rose gold, silver and copper...

And they are "discovering" diamonds too:

Worldwide diamond consumption to surge by more than 60 percent by end of decade

December 13, 2012

China has grown rapidly into the world’s second-largest market for diamonds, with annual sales approaching $9 billion.

Rising wealth, popular fascination with Western culture and the fast-expanding middle class have powered the market’s growth, with a boost from lower taxes and tariffs.

Diamonds have strong emotional and spiritual resonance for Chinese women, who associate them with eternity and high status. The custom of giving diamond engagement rings is catching on quickly in China...

[ProdigyofZen]

Re: In rush to urbanize, China flattens 700 mountains

As touchring pointed out...the times they are a changin'. Even in China :-)

Chinese New Year 2013 - Jewelry Trends

Published Date: 19th Jan, 2013

According to Chinese tradition, friends and relatives usher in New Year with gifting and receiving gifts, and gifting of jewelry is one of the customs...

...Chinese are exploring the world and with more Chinese studying and living overseas, they have developed a taste for different types of metal. Earlier, only yellow gold was popular, but today youngsters are seen showing preference to metals like - platinum, white gold, rose gold, silver and copper...

And they are "discovering" diamonds too:

Worldwide diamond consumption to surge by more than 60 percent by end of decade

December 13, 2012

China has grown rapidly into the world’s second-largest market for diamonds, with annual sales approaching $9 billion.

Rising wealth, popular fascination with Western culture and the fast-expanding middle class have powered the market’s growth, with a boost from lower taxes and tariffs.

Diamonds have strong emotional and spiritual resonance for Chinese women, who associate them with eternity and high status. The custom of giving diamond engagement rings is catching on quickly in China...

But GRG my comment still stands. I never said they did not enjoy other metals and jewelry but the Indians wear gold in a different fashion than Chinese. A large percentage of the gold is bought for gifts/coins for child birth, chinese new year and marriage. Lots of gold will be gifted in the next week with Chinese New Year.

They do love gold but I can tell you that they have always loved diamonds, at least in the Chinese diaspora. My girlfriend's family has been buying loose diamonds for generations.

When she was a kid she would go with her mom to the jeweler and he would bring loose diamonds from the back and spread them on a table to be picked from. This is common practice.

[aaron]

Re: In rush to urbanize, China flattens 700 mountains

IMHO:

Diamonds are silly. Girls like them, and there are not many pretty girls China in relation to the number of men with money. So, yes, there will be a demand.
Gold is definitely valued in China. It is not really worn as jewelry, however. Prodigy is right.
Gold is sold in bars at banks. It's purchase is encouraged now. The Chinese (with money) definitely see its value. Regardless, it is interesting to see America versus China in this regards. We do not care about gold; most people have never touched a gold coin or a gold bar. And, they are hard to find. You cannot even buy pure gold jewelry without a trip into Chinatown (where it is very expensive).

In China you typically only buy 24K gold jewelry. It is sold by weight plus "hand labor". You really cannot wear the stuff except for special occasions. Larger investment purchases are easy to make at the bank. They come in bars, typically. In other words, real gold is everywhere for purchase. I do not remember seeing a "we buy gold" sign anywhere. My impression is that it goes without saying that you can sell gold to virtually any shop. However, you only sell your gold if you are in dire straights. Likely, it is a sign of failure, much like selling your wedding bands when still married.

Now that gold is so expensive, you can actually rent it (at least that was what my wife showed me) for wedding ceremonies. I could see those funny gold-like substances being marketed to younger people because it is cheaper. White gold, as well as the others, are alloys. Platinum... well, I did not see anything substantial for sale, but it has been a couple of years since I was there. It is likely fashionable, no doubt.

[touchring]

Re: In rush to urbanize, China flattens 700 mountains

Now that gold is so expensive, you can actually rent it (at least that was what my wife showed me) for wedding ceremonies. I could see those funny gold-like substances being marketed to younger people because it is cheaper. White gold, as well as the others, are alloys. Platinum... well, I did not see anything substantial for sale, but it has been a couple of years since I was there. It is likely fashionable, no doubt.

Gold is commonly given as jewelry for marriage, although it is not worn. But I don't see the younger generation of Chinese liking gold as much as the South Asians or even the South East Asians.

By the way, the Chinese women are crazy over diamonds and branded Swiss watches.