Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The 'land sale' method of civic finance can only be a stopgap. It reminds me of the use of 'assignats', or 'assignments' of confiscated church lands during the French Revolution. Sure, The Church held the prime third of all agricultural land in France, but it was transferred relatively quickly to new owners. In China it is a process of local CPC officials identifying land that can profitably be redeveloped and simply confiscating it from powerless owners. But the people to whom the land is transferred are far from powerless, so there will be an endpoint to this process relatively quickly, which is what Li is saying.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Jun 23rd, 2013 at 12:55:06 AM EST
[ Parent ]

Others have rated this comment as follows:

afew 4


Occasional Series