Badon, My only real concern about MCC market is that te wealthy Chinese think their own market unsustainable due to corruption. The party elite all have their families in the US. They berate subordinates to work hard and be patriotic while they have milked the system and have two feet out the door because they fear their wealth mightb be stolen.
From the Canadian newspaper Financial Post:
Brimming with the spoils of a historic economic expansion, Chinese millionaires by the tens of thousands wish to make Canada home for their families and their private wealth.
Her concerns with pollution are shared by a growing number of Chinese elite, as are fears of political instability, and security of their assets.
“We worked very hard on our business and we earn every penny. I don’t want somebody to take it back,” she said, indicating the family made its money from a electrical component manufacturing business.http://business.financialpost.com/2012/03/02/why-is-canada-keeping-out-chinas-rich/
When the US was having its boom years, immigrants would not pack up and go back to Europe the moment they amassed wealth. And its not just 'avoiding pollution' as some may counterargue. There are places in China with clean air, so why are the USA, Canada and Australia favored residences for the Chinese elite. The readiness of the wealthy-our ultimate MCC buyers-to abandon their country means a few things to me:
-weathy Chinese embrace western culture over Chinese culture.
-if they are largely discarding Chinese culture why would they want MCCs, they may be just as interested in Canadian or Auzzie lunars
In markets like MCCs you are dependent on a larger group of buyers coming in en masse to bolster demand and valuations. MCCs are produced in tiny numbers, but even with all the hype (books, articles, interviews) an=bout the 30yr anniversary of the panda, I know many dealers were expecting much higher prices a month back.
Some will blame the economic slowdown. I am not so sure. Apple's iPad, iPhone sold well in the US in an economy with the highest unemployment in decades. Some will say 'no, MCCs are investments those are rtoys' others will reply 'iPhone and iPaad are good productivity tools for my business-they make me money'