Thursday, July 3, 2014

Good Comment on China's Pre-Modern Agriculture

y0ungmoney had a good comment on the primitive grain threshing practices described in Country Driving:

"It's amazing that they've gone on a runaway building boom while letting their agriculture stay pre-modern. In a way, I think the Chinese RE bubble is even worse than it looks-- not only are they building mm's of apartment buildings that will never be lived in, in many cases they're building them on fertile land that could have been used for farming. So the RE bubble destroys wealth multiple ways.

It's weird that China and Russia have the same problems- pervasive corruption, an aging population, higher birthrates among sepratist minority groups, etc- yet China is considered a rising superpower and Russia is considered a corrupt has-been. I'm not a big fan of investing in Russia because it's a beneficiary of the China bubble, but there's an obvious disconnect."

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