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We all heard that China devalued the Yuan yesterday and once again today. They did not only devalue their currency but devalued the world markets with it.
What makes me worried is how they artificially inflated their growth since the 2007/8 collapse. They built whole new cities with high rise building with malls unparalleled in size anywhere. Today they are all empty of people as they cannot afford the prices. 64 Million apartments are still empty in these new cities.

Is this why they reduced the import of copper and iron causing the price drop in these commodities? They have stopped building these cities and this may be the main cause of the stagnation of the markets of late.

Am I crazy or what? Here is a video of these empty cities.

 

Well, SA Schools will introduce Mandarin to the official syllabus next year - China might be preparing for a influx form SA in near future - I won't mind living in those ghost towns, looks clean and peaceful.

Strange that those buildings are still intact after years. Had they been in SA, after a few days, all the fittings would be missing and a week later only the foundations would be left.

I'm living in China since 2013 near Shanghai. Even though those cities were empty, they will eventually by filled because the Central Government is placing limits on how many people can stay in Beijing, Shanghai and Guangzhou, the 3 biggest metropolitan cities. There are 5 controlled directly by CPC.

Anyway as the consumer spending increases with the largess from the middle class, you can expect the growth to remain above 5% for the next 10 years. This is my opinion.

Watch out for the spending that will take place on New Silk Road (One Belt, One Road) projects.

Welcome to the forum RARCA and thanks for the good post.