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Bubble with WTO

10 April 2010
 

“On the whole, I don’t think there are bubbles in China’s economy,” Mr Long, the secretary general of Boao Forum Asia 2010, declared Friday at a press conference.

And no bubble at all, not even in China’s real estate market, according to Long. Which is a rather bold statement surely, since at the moment almost everyone in China, from Premier to peasant labours, are talking about the over-heated property market and grossly inflated housing price, and hold their collective breath waiting for this giant bubble to burst.

But this guy said, no, there are no bubbles whatsoever. And China’s real estate market is so healthy and so cool that he believes no measure should ever be taken to further cool it down. (中国的房地产是健康的发展,不需要打压。)

Long is not a popular figure in China; in fact, he’s passionately loathed and despised across China’s cyber space, especially after his infamous comment in which he referred those who dare to defy the barbaric demolition of their own home (野蛮拆迁) by property developers as scoundrels (“刁民” in Long’s original words) and urged government to deal with them harshly.

The following are some online comments on china.com on his comments on the real estate market:

跟随先辈:

I would like to ask Mr Long, with current housing price, according to your natural wage, how many years it would take you to save enough money to buy a flat?

My annual income is 40k and even I stop eating and drinking all together, I can only save 800,000 yuans in 20 years of time. You expect to buy a place to live in Beijing with just 800,000 yuan? Kidding! A flat with 70m2 would cost you 1.5 million. I can't just buy a chicken coop for my family, can I?

如果按照你自己的正常收入, 你说你不吃不喝的需要多少年才能买起一套房子?

我一年收入也就是四万块钱, 我就是不吃不喝的, 20年才刚80万元, 80万能在北京买上房子? 一套70平米的房子都敢要150万了, 总不能让我买个鸡窝吧?

冷眼观潮:

Guess he must have brothers or sisters in real estate business. Or he has a number of properties under his name so wishes the housing price can keep rising.

估计龙永图的兄弟姊妹有人是搞房地产的吧!或他家房产可能不少,还嫌房价不够高啊

aa:

How can you expect no corruption in China when we have some government officials like him?

有这样当官的,国家哪有还不腐败的

公民的权利:

He negotiated the WTO agreement pack, and kept public in dark regarding the contents. Now we know there is an additional clause saying only after becoming a full market economy, China will be eligible for WTO protection. Which is why the West is determined not to recognise our market economy status so they can take sanction against us or lift tariffs on our products whenever they please, while we can do nothing about it. And we will have to further open up our cultural, financial, transport, car and other key markets to the West. To put it simple, by joining the WTO, we’ve acquired obligations to open our market to the West but haven’t gained an equal rights to enter theirs. Even the most disgraceful Manchurians may not sign a treaty that is so humiliating!!!

加入WTO签的协议,还在对国人保密呢. 附加条款:中国只有是市场经济国家,才能享受WTO的保护措施。 ———— 所以,直到今天,全世界除了韩国(唯一的一个中等发达国家)和一些亚非拉的友好国家之外,所有的西方发达国家都不承认中国的市场经济地位。他们可以任意制裁中国,提高关税。而中国却毫无还手之力,还要被迫开放文化,金融,通讯,汽车等各个关键市场。一句话,加入了WTO,你只有开放市场的义务,却没有享受到对等开放的权利。当年的满清政府也不会签这麽一个无比耻辱的协议!!

望穿秋水1:

With regard to join WTO, Long is most keen and eager than anyone else in China. Well, his effort has not been futile - he’s succeeded in helping the West to tie a dead knot around China’s neck, haha, don’t you see how jubilant they were! Wow, what an achievement he’s made, … he was so thrilled by his own accomplishment that he almost passed over.

In the WWII movies, you see Chinese collaborators leading the way for invading Japanese troops to locate and kill Chinese villagers and you think these guys must be the most hideous characters in the world. But new age collaborators are even worse: they don't need to go through villages but can help their masters to bring the entire 1.3 billion Chinese to their knees in one go.

中国加入世界贸易组织的事情,小龙真是比13亿中国人好要急,结果,也没白忙活,最后终于把那个西方下的套,牢固地套在中国脖子上,哈哈,真是皆大欢喜!哈 -------- 哈------ 哈,不得了,差点儿背过气.

看抗日的电影,觉得那个跑在鬼子前面,耀武扬威地带领鬼子进村的人可恶!但那时,鬼子只能一个一个村的搞“扫荡”,再看现在,只要一、两个这样的“精英”汉奸,就可以为了他的主子, 一下子搞定13亿人的中国

P.S. Long is said to have taken an executive position in a major Chinese insurance company that is poised to enter China's property market.

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