Posted Dec 17, 2012 by Martin Armstrong
The purpose of this world tour has been to kick the tires and see what is really taking place. I began in San Diego, then went to Hong Kong, Beijing, Singapore, Thailand, then Europe and about now to return to the States. The stories about fake progress in China are clearly biased Western reports that do not want to admit that China is expanding thanks to Laissez–faire economics that the West declared was old school and Keynes said was dead. The stories of putting up empty buildings for show are exaggerations at best. In some places, residential is being handled like commercial. You buy the raw space and fit it out yourself. Other places are totally pre-fab. China has developed new technologies in efficiency that the West could never do because of unions. Here is an example. I will provide a recap as promised at the San Diego conference. For Americans, it looks like Asia is the only game in town.