@Mike Manson
what's actually going on in China right now? Why are the people protesting?
Not easy to put into a couple sentences, but I try to keep it short.
Part of China's growth is the real estate market. People buy apartments/houses when they get married. It is actually now almost a necessity to have an apartment, to be able to marry a woman. Puts a lot of pressure on men.
The prices of these apartments went through the roof in the last ten years. Mostly of course in tier 1 cities. Cities close to the sea with big companies/factories. Young people do not want to be poor farmers anymore. So they go to the big cities to earn money. However, their ID cannot be changed to the city they live in, they still belong to the place they were born. This can only be changed if they buy an apartment. Without having the ID of the city they live in, their children cannot go to school. They have to travel back to their hometown for any official/government issues. And of course, the schools back home are not as good. So basically they have two choices, their kids grow up in their hometown with the grandparents and poor education, or they buy an apartment.
The apartments are basically concrete coffins. In the city I live in (Xiamen), the average price per m2 is more than US$ 3,000. To be able to get the local ID, you have to buy a house that is bigger than 100+ m2. So you spend US$ 300,000+ for a shitty apartment. You have to pay at least 30% in advance and have high interests. However, even after paying all this, you don't really own the place. You only bought it for 70 years.
So you can imagine how lucrative this business is for the government and the real estate industry. The government gets the land from the people, sells it still rather cheap to the real estate companies, they build shitty concrete 30+ story high apartment buildings, and sell it for crazy money to the normal people. And I'm not even mentioning all the money etc. that gets handed over between those two parties involved.
So, this is one part of the problem in China.
Another problem, which also has to do with the first one I mentioned, is corruption of government officials. Communism my ass. This is hardcore capitalism. About 98% of the millionairs have government officials in their family. Most government officials are doing very well, even though they actually could not be doing so good if you look at their actual salary. So, everybody knows they take money under the table. It is king of accepted, as long as it doesn't get too out of hand.
And it got out of hand. So much that all the Chinese hate the government, and that is why the current Preisdent and government are "fighting corruption". Every other week a big famous official gets sentenced to death for corruption. Just now the head of the Chinese Rail/Train Government.
The way this is presented however, seems a bit like they want to win back the hearts of the people. Are they really taking down the bad guys, or maybe people who were fighting for power in the government?
Not sure...