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Sharp drop in China house prices leads to violent street protests
Topic Started: 27 Aug 2014, 10:48 AM (3,985 Views)
Ex BP Golly
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Massive
28 Aug 2014, 02:00 PM
like this official who took too long eating breakfast before getting to the gate for his flight and the plane had left...

awesome role model...
Airport food does that to you.

I wonder if any cops ever turned up.

Bikies carried on like that at Sydney airport and the cops were lucky to ever make it.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Admin
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Suddenly, The RBA Is Worried About Chinese Property Prices

Greg McKenna Today at 3:20 PM

RBA Governor Stevens released his monthly statement after this morning’s RBA Board meeting and while rates stayed at 2.5% and the wording around a “period of stability” for rates remained, there was a material change in the outlook for China, Australia’s biggest trading partner.

Last month Governor Stevens said, “China’s growth remains generally in line with policymakers’ objectives.”

But this month they added that was a near term risk saying: “China’s growth remains generally in line with policymakers’ objectives, with weakening property markets a challenge in the near term.”

Recently there have been riots in China after developers cut the price of apartments by 25% in a five-day period to clear stock. Westpac and the BREE reported a sharp decline in the price of apartments across the vast majority of the 70 Chinese cities surveyed.

It all adds up to increased risk in the Chinese economy and in Chinese banking. This was a point picked up on by Gabriel Stein, professor at the University of London and economist at consulting firm Oxford Economics, who the SMH reports told an audience in Sydney today:

We don’t know when there will be a China banking crisis and how it will play out but it is almost certain there will be one…We do think the financial risks are high. Bad loans are understated.

The RBA hasn’t been quite as brutal, but they are obviously worried if their concerns have made it into the Governor’s statement.

Read more: http://www.businessinsider.com.au/suddenly-the-rba-is-worried-about-chinese-property-prices-2014-9
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newjez
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Shanghai is a long long way from Perth hey skamy?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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economist
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Jimbo
29 Aug 2014, 02:53 AM
miw
28 Aug 2014, 09:03 PM
I would however add that Australians and New Zealanders are also famous for being friendly and helpful to foreigners. Most of the Chinese I know who have travelled to Australia on business or as tourists make a point of saying how well-treated they were by the locals. Some have even said "nobody would treat you that well here."
I've had a few Chinese visitors stay with me in Perth. One of them was sent over for a week of contract negotiations in the city and his Chinese employer booked him into a dingy apartment block in Vic Park. He rang me when he arrived and I put him up in my place instead.

He loved it here but he had a bit of a problem with the Aussie food they were providing for the lunch buffet in the meetings he was attending. Party pies and sandwiches are not part of the typical Chinese diet. He did take a shine to fish and chips though.
We currently have the daughter of a Chinese business partner staying with us whilst she attends some Adelaide Uni courses. She has another 4 weeks to stay.

Quite frankly the young lady turned up on our shore a shy almost vegan princess who our family has proceeded to convert into a raw meat eating carnivore in 10 weeks. I can't get the steak off the BBQ quick enough. I've resorted to giving the meat a stern talking to and putting on a plate.

God knows what her father will think when she returns home.
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miw
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economist
3 Sep 2014, 12:41 AM
We currently have the daughter of a Chinese business partner staying with us whilst she attends some Adelaide Uni courses. She has another 4 weeks to stay.

Quite frankly the young lady turned up on our shore a shy almost vegan princess who our family has proceeded to convert into a raw meat eating carnivore in 10 weeks. I can't get the steak off the BBQ quick enough. I've resorted to giving the meat a stern talking to and putting on a plate.

God knows what her father will think when she returns home.
Wow. I can rarely talk Chinese out of well-done.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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lol
Unregistered

Inscrutable genius investors? Nope just dumb arse, risk averse, irresponsible stir fries.
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