The Rising Influence of Rising Affluence

[DewDiligence]

Update on China’s plan to increase subsidized housing:

http://online.wsj.com/article/SB10000872396390444024204578044592999502174.html

If the move to build more-affordable homes takes hold, analysts say, it could help China achieve an economic soft landing and drive the next stage of growth.

Among the believers is China's premier-in-waiting, Li Keqiang. He suggests that a combination of government-funded "social housing" and cheaper homes built for the private market will spark a wave of consumption as owners outfit newly acquired homes with furniture and appliances.