Hidden Harmonies China Blog

Allen and I had a chance to chat with Professor Ann Lee a little over a year ago, and we continue to see her moderating the warped perspectives in the Anglophone press. In this short CNBC video, she debunks Professor Peter Navarro of UC Irvine. Actually, she’s mostly debunking CNBC’s narrative. China’s urbanization rate is still only about 52%. When China’s industrialization finishes, about 1 billion people would have moved. Demand for urban housing is astronomical in China this day in age. As Lee says, China is implementing various policies to curb escalating real-estate prices. Allen often like to say – this is an economics issue, but as you see in the narrative below from CNBC’s reporter and Peter Navarro, this issue sounds ominous and political doesn’t it? Kudos to Lee for sticking to her points which we wholeheartedly agree with.