Most measures of home prices—including the S&P/Case-Shiller Home Price Index, the CoreLogic Home Price Index and the National Association of Realtors existing home sales report—don’t take inflation into account and show prices nearing or surpassing the peak hit in 2006 or early 2007. As Africa’s population soars in this century almost to equal China’s and India’s combined, only China can supply the income stream essential to support the enhanced social services and demographic dividend required if Africa, over the next few decades, is going to emerge from poverty to takes its rightful, strong position in a troubled world. Domestic migration, the movement of people from on area to another, usually from the impoverished rural areas to the relatively alluring financial opportunities of the urban areas has been tightly controlled and until the recent demand for cheap labor, impossible.
While visitors tend to view the slum-free cities of China, as opposed to the cities of India, for example, as a symptom of economic well-being, the truth is the poor simply are not allowed into the urban areas. Insufficient water is already limiting industrial and agricultural output in some areas and threatening to curb China’s high economic growth rate and food production. In order for all this growth and wealth that is created, China needs (amongst other things) minerals.
In 2007, the Chinese Communist Party (CCP) capped 30 years of economic liberalization with a revolutionary land law. These laws had the aim to help flatten the economic disparity between the increasing rich urban population and the increasingly marginalized peasant agricultural class. In the name of economic growth, they have clearly decided to leave the factories and other hazards essentially undisturbed and one envisions them sitting in their seats of power with fingers crossed behind their backs, praying the resultant destruction does not trigger either unmanageable popular protest and unrest, or long-run economic decline.
One in five humans on this planet lives in China, a country apparently hell-bent on destroying itself in the name of economic growth. China minds their own business and doesn’t try to police other nations which costs money we don’t have and borrow from China. It is about the cost of economic growth, and I refuse to get caught up in a discussion of political ideologies which are totally irrelevant to the subject matter. And as I stated, this article is not about the politics of China, but the economic reality and cost associated with their growth. You have given us an excellent insight into the lives of those who live in China.
Perhaps you may want to come back and comment on the actual subject matter – the high cost China is paying for economic growth. China today is a strange mixture of communism and capitalism and from the information in your excellent hub it would seem the changes are not necessarily for the better. A lot of soothsayers on wall street are saying (betting) China is ready to decline to single digit growth. Money is the root of all evil and China doesn’t care or bother about human beings.