China update

Want to Live With 42 Million People in a Megacity the Size of Switzerland?

The "Turn The Pearl River Delta Into One" scheme will create a 16,000 sq mile urban area that is 26 times larger geographically than Greater London, or twice the size of Wales.

The new mega-city will cover a large part of China's manufacturing heartland, stretching from Guangzhou to Shenzhen and including Foshan, Dongguan, Zhongshan, Zhuhai, Jiangmen, Huizhou and Zhaoqing. Together, they account for nearly a tenth of the Chinese economy.

Over the next six years, around 150 major infrastructure projects will mesh the transport, energy, water and telecommunications networks of the nine cities together, at a cost of some 2 trillion yuan (£190 billion). An express rail line will also connect the hub with nearby Hong Kong.

Beijing Intensifies Effort to Curb Rising Home Prices

China released several government measures on Wednesday aimed at curbing the growth of housing prices and preventing a property bubble from threatening its fast-growing economy.

The State Council, China’s cabinet, ordered cities to better manage the supply of land, raise tax rates on the sale of apartments or houses held for less than five years and set price control goals for new homes.

The government also said it would raise the minimum down payment for buyers of second homes to 60 percent from 50 percent.

We won't always be the biggest

This bugged me last night, and it's worth talking about today: One of the first big applause lines of the speech came when Barack Obama said, "For all the hits we’ve taken these last few years, for all the naysayers predicting our decline, America still has the largest, most prosperous economy in the world." But as Matt Yglesias notes, soon, we won't.China will. And that's okay.

A decent future includes China's GDP passing ours. They have many, many more people than we do. It's bad for both us and them if the country stays poor. A world in which China becomes rich enough to buy from us and educated enough to invent things that improve our lives is a better world than one in which they merely become competitive enough to take low-wage jobs from us -- and that's to say nothing of the welfare of the Chinese themselves.

But perhaps it's better to think of it in terms of Britain rather than China. Was the economic rise of the United States, in the end, bad for Britain? Or France? I don't think so. We've invented a host of products, medicines and technologies that have made their lives immeasurably better, not to mention measurably longer. We're a huge and important trading partner for all of those countries. They're no longer even arguably No. 1, it's true. But they're better off for it.

In the best global economy we can imagine, the countries with the largest GDP are the countries with the most people. That's not America. And that's okay. We want America to have the most innovative and dynamic economy in the world, and we want living in America to be better than living anywhere else. But we don't want everywhere else to remain poor. We can't want that.

China Builds a Ghost Town

The Economist put together a tool enabling readers to determine when China will overtake America as the world's largest economy

Did China Try To Pass Off Top Gun As Air Force Footage?

A few days ago, China Central Television showed footage of what they claimed was an air force training exercise conducted on January 23. From the looks of things, they were actually just playing clips from Top Gun.

The clips in question were reportedly aired during the News Broadcast program on China Central Television, the major state television broadcast company. They supposedly showed a J-10 fighter firing a missile at another aircraft during a practice exercise.

But an internet commenter quickly pointed out that the aircraft the J-10 was shown shooting down was an F-5, an American aircraft, and the very one Tom Cruise guns down in a scene from Top Gun. Comparing frames from the CCTV broadcast (left) and Top Gun (right), well, they're lookin' pretty much identical.