And China apparently is willing to spend on it to get its economy back in recovery mode. China stimulates itself to full recovery by fixed asset investment in mega greenfield projects that employs blue collar workers — roads, bridges, even if those lead to nowhere. The five-day International Labor Day holiday at the start of May on Friday shows that China is not yet back to normal. MORE FROM FORBES Apparently, We Are All China NowStill, China being home to 1.4 billion people, online travel firm Ctrip.com (CTRP) said it expects around 90 million people to take local trips during the five-day Labor Day holiday. If new housing leads to a credit bubble or a housing bubble, China will just have to cross that bridge when she gets there.

Source: Forbes May 03, 2020 22:30 UTC