Well, where do you think their growth is going? Because we're seeing that they've declined the most in five months, their pace, and it's just very confusing. I mean, are they slowing or are they really very strong but they're pretending to be slowing? You know, that they're trying to obfuscate that they're still growing.
Well, Debra, four million people are moving from rural to urban. Although we heard
is moving their plans to rural because there's such a mismatch. There are labor shortages throughout China in the cities. So you know that those buildings are going to be filled. They will be filled. It's just taking a little longer time. You don't need more buildings, so you'd like to see them cut back in that. But you need to see infrastructure. They have a water and sewage system that's a 100 years old. And there's much that the government should focus on that would not be as counterproductive, is what the private sector is doing, but I hold hopes that China will be rational when the new government really takes hold in March. I don't want to sell American derivative plays on China that are soft goods, like a
, or a
Proctor & Gamble
(PG - Get Report)
, or even a
on hard goods. But I respect the fact that the demographic trends are very in much in China's favor in terms of rural to urban. But, boy I wish that they would play fair. They do not play fair.
All right, Jim. Well they certainly don't play fair and that makes it even harder for our markets to figure out what they're going to do. So keep your eye on China and especially keep your eye on what's going on in China in March.
--Written by Debra Borchardt in New York.
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