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Urbanization is a blessing or curse for China?

Popularity 2Viewed 2902 times 2013-3-1 16:34 |System category:Economy| China

Urbanziation seems to be the last straw for China's economy in the eye of the leading groups. With the new generation of managing team takes office, the prices of houses in China see a big jump in the wake of the urge of developing cities.
Now few friends of mine still believe the administration could cramp down over the rising real estate prices, thus some of them make their final unwilling decision to jump into the boiling water and buy an apartment before it turn into the stars in the vast night sky.
For me, I could understand that government now has no choice but to exert makeshifts to ease the tensions between the luxurious apartment and complaints from the public. You can't find an industry right now in China which play the same role as the equalities do. Ironically, government is also a victim if the house prices nosedive within a short term. Large amount of bad loans would follow and millions of people would lose their job, the society may turn into chaos as many fear for a long time. But could government prevent the worst scenario from happening? I doubt it.
Bubble would finally burst no matter where they take place. It also applies to China. Is that possible that China could handle the tough situation and find a way out of this explicit trap? Yes, but chances are fat. We don't know when it happen and how it would take place but I, personally, believe the rule of economy cause I take it as a science among human being scope. Rationally, I know there is a inferno ahead if I come to join in the buyers of houses especially in Beijing. But in fact, sarcastically, I just rushed to buy an apartment with a large amount of loans on my shoulders.
You can't resist the emotion even though there is a rational voice from your deep mind.   

(Opinions of the writer in this blog don't represent those of China Daily.)




Shake hands


Friends who just made a statement (1 Person)

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Reply Report ttt222 2013-3-1 17:33
Urbanization is a must step for all nations. No shortcut can be done.

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