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China's Overinvestment Quandary
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China's Overinvestment Quandary

Our Correspondent
Dec 31, 2008
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China's Overinvestment Quandary
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China is finding out the hard way that investment is not an end in itself. The object of economic is to satisfy consumption. Investment is merely a means of getting there. High rates of investment are fine – so long as someone can afford to buy all the new housing and all the fruits of new factories and offices. Clearly in China the absurdity of investm…

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