China: debt downgrade

The industries and hence the people who depends on these industries that are affected negatively are the auto, steel, coal and the household appliances. The high labor cost and strong US dollar make these products uncompetitive in the global market, also these industries are too comfortable with the domestic market and didn’t try hard to compete in the global market. Suddenly, they realize someone stole their cheese and want to find a victim for their complacency.

The real valuables are people and the know-hows. These guys will run away if the condition is hostile, hence land and the houses on them are only valuable if people wants to stay.

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