Taoyuan Nights

Quick Asian housing news round up:
In Korea…
“SEOUL, Nov 4 (Reuters) – Housing prices across South Korea will rise in 2010 for a sixth consecutive year and by the fastest pace in four years, an industry association research agency forecast on Wednesday.” (when do industry association representatives ever say anything else?) , “Kookmin Bank [...]

“On Thursday, the Taiwan Institute for Economic Research (TIER) revised its economic forecast for this year, predicting the nation’s GDP would contract 2.89 percent year-on-year, worse than its previous estimate of a 1.91 percent decline.”
Funny, really, you’d think people who were predicting 3 significant figures of accuracy would be ashamed of not even getting the [...]

The following link (Telegraph) is one of the better pieces I’ve read lately.
As you may know, historically, economists/financiers seem to have held the view that although Japan had horrific government debt relative to the size of its economy (GDP), this was ‘OK’ since it was all lent by Japanese citizens (because of the high savings [...]