- In Florida, construction projects have been put on hold,
contractors are panicking and cement is nowhere to be found. It's all being sucked up by China. The reason is simple: An economy the size of France or Italy is growing at rates usually reserved for small island economies; China grew at a 9.8% annual growth rate in the first three months of the year.
- China has 4,813 cement plants, more than the rest of the world combined, and they still don't have enough. Projects like the Three Gorges Dam and Beijing Olympics forced China to gobble up 55% of the world's supply of cement, 40% of its steel, and 25% of its aluminum. Yesterday we learned that, in Shanghai, real estate prices rose by 28.3% in the first quarter, according to the Detroit Free Press, causing the local bureaucrats to ban developers from selling apartments before they have been built... these are more than mere details for our Pao Mo file... they're affecting markets all over the world.
http://www.dailyreckoning.com/whitelist.cfm
