Hey, Small Spender

If you go to Gubei district in Shanghai where most of the expat lives - you will find that most of the lights turned off at night in the apartment houses that used to be rented out to expats. It gives you an indication of how bad the situation is now in Shanghai for the residential rental market that is heavily dependent on expats and continued foreign investment. China's GDP is >60% dependent on foreign trade, export dependent factories in the rich coastal region need order from the West to run - and this is not forthcoming with the recession in the West. Unemployment may reach 40million by end of this year and may proof to be a big destabilizing factor for China.