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I’ve long been a Chi­na skep­tic because of things such as the ghost cities, but I must con­fess I nev­er real­ly con­sid­ered the oppor­tu­ni­ty costs of their actions the way he high­lights them here.

From the excel­lent Yichuan (Lulu) Wang

You all should be fol­low­ing him, or so it would seem to me. Here are excerpts from his post What Chi­na Could Be Build­ing: The real risk is not that the hous­ing won’t be used, but that the crash would…