And some are at the stage of specifying areas that could see investment breakthroughs like urbanization and rural reforms.

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There are significant variances between cities, and I think Chanos is underestimating the poor quality of current housing (has he spent a night in local Beijing housing yet?), the pent up demand to upgrade, and the increasing urbanization of rural suburbs.

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Therefore, it is unclear whether the hundreds of millions of rural residents are poised to benefit from the urbanization trend.

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Thus when it moves on to highlight the costs of extending the grid to these sparsely inhabited rural backwaters, it fails to realize that the same economic forces driving up demand for electricity are also inducing strong urbanization.

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