In June, 2010, The Australian reported that Mr. Grantham (co-founder of global investment management firm GMO) predicts a crash of the Australian housing market.
Archive for the ‘Asia-Pacific’ Category
Is the Australian Housing Market on the Verge of Collapse?
Monday, July 19th, 2010Mongolia and its Railways
Thursday, June 24th, 2010
Mongolia will build five railways. As reported in the San Francisco Chronicle, “One will connect Tavan Tolgoi, Sainshand to an existing railroad to Russia, while another four will run through China.” Once these rail systems are completed, China will be able to better tap into the immense mineral resources contained within Mongolia. Mongolia possesses some of the world’s largest deposits of coal, uranium, and copper.
South Korean Rice Production at All Time High
Tuesday, June 1st, 2010South Korean rice production is at an all time high. Domestic supply exceeds domestic demand.
The consequence of these new developments is that South Korea is now a rice exporter (as of 2007).
Decreased domestic rice demand in South Korea is associated with an increase demand of other foods. The introduction of a Western diet has increased demand for alternate grains such as barley, wheat, and corn in South Korea. Additionally, fast foods have made deep inroads in South Korea. Walking down urban streets in Seoul (a metropolitan area with more than 20 million inhabitants), one is greeted by numerous Pizza Huts, MacDonalds, Burger Kings, Dunkin Donuts and Starbucks. Consequently, “Since 1970 when rice consumption peaked at 136.4 kilograms per capita, the amount of rice and rice based products consumed by the average Korean has been on a downward trajectory. In 1984, rice consumption per capita stood at 130.1 kilograms, but for the past four years, it hovered below 80 kilograms. Last year, consumption per head shrank 2.4 percent to 74 kilograms, an all time low.” http://hanopolis.com/?articleNo=8890&story/Koreans-consuming-less-rice-more-other-stuff-not-necessarily-good-stuff
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