Concrete is at the heart of the development boom that has driven the Chinese economy for years, and speculators have not been shy about getting in on the action.
The small concrete mixers that are a familiar sight on any building site across the world, for example, are rarely owned by companies. In fact, according to one China expert, it has been very common in recent years for ordinary Chinese families to buy a mixer on credit and then rent it out to anyone paying cash as a small business – the yield they can earn has long been better than any bank deposit.
More worrying, however, are signs that the industrial scale end of the concrete sector is developing a financing bubble of its own.
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