2011-10-25

Capital flight from Ordos?

Closer Look: High-tailing Out of Ordos
"My clients always find me. When I bring in a higher return on an investment, then my reputation spreads and more come to me." However, lenders like Mrs. Li often have little formal knowledge or experience in investment. Typically, lenders like Mrs. Li live in luxurious apartments and own expensive cars. According to Mrs. Li, "People who want to invest their money with me often give me a range of gifts, and of course, they also bring money with them." But now, depositors go to Mrs. Li's house for something else – to ask for their money back.
Perfectly encapsulates economic activity at the peak of the bubble.

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