Will China Suffer A Hard Landing ?

If the incredible cement usage in China over 3 years is true,  it is impossible to replicate the same usage over the next few years to generate the same growth rate.   Compounding the problem is the fact that there is a lot of wasteful construction of ghost towns and cities which will haunt the whole economy very soon.  What is more worrisome is the fact that the construction industry probably hire 200 to 300 million migrant workers and it will be impossible to seek job re-structuring for this big pool of employment should the construction industry go into deep depression.

Update:  Perhaps this will be a good reason to accelerate the construction of One Belt One Road project to absorb the over-capacity and capital.  But it will pose a grave threat to the current shipping route via the Straits of Malacca. 



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