Remember this vid? It was all the "hotness" on the internet and everyone was having a good time watching heavy construction equipment play transformers on a Chinese street.
But did you go past the silliness and find out the story behind it? No? Well let me help ya out. via Toronto Sun.
The construction workers were from two companies competing for business, Xu Feng, a local government spokesman in Hebei province's Xingtang county, said Monday. He said he couldn't disclose details about arrests or injuries until an investigation concludes.I hope you had fun watching the vid. The story behind it should be chilling. The slowdown in China is severe...perhaps worse than we're being told. How that could affect their foreign/domestic policy is beyond me, but its another situation (among many...almost too many) that bears watching.
China's construction sector has fallen on hard times, with growth down by two-thirds from its peak a decade ago. Real estate construction represents close to a quarter of China's economy, a far higher proportion than other major countries, and its slowdown is now sending ripples through industrial sectors such as steel, glass and cement, causing waves of layoffs.