Posted Dec 27, 2012 by Martin Armstrong
When we look at REAL GDP growth on a city by city basis, the top five are all in China – Hefei, Baotou, Changchun, Anshan, and Dalian. It may surprise you, but the top two cities in the bottom five around the world at Miami and Las Vegas followed by Athens, Abu Dhabi, and Dubai. It would be nice if government just for once looked at what works for the people than how to win the next election. The tax hikes emerging around the Wetsern World are killing the economy, scaring capital, and contributing to the trend that will make China the number one economy in the world.
Propaganda that China puts up buildings that are just shell for show is just that. In many areas the buildings are raw just as commercial real estate is done in the US. You get the raw space, a building allowance, and fit out the place to what you need. China has the same model but also extending it to the residential market in some areas.
There is little doubt that Asia is the place for economic growth.