The Nail House Effect
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Etymology : nail + house + effect
Function : noun

1. Refers to the awakening of the public’s awareness of their Private Property Rights in China after the Political Imbroglio over the ‘Nail House’ in the Chongqing Jiulong Hill District.

Because of changing economic and political positions in China, the idea of State’s belongings in some cases recently replaced by private interests. For example China’s Property market where a developer is seen huge profits overnight.
Following image on the left side shows the famous ‘Nail house’ in the Chongqing Jiulong Hill District where a housing dispute led to the developer digging moat around someone’s house who refused to move. The image not only exposes China’s confusing and often conflicting civil and commercial law system but also hints at an awakening of the public’s awareness of their private property rights. For example the image on the right side shows a similar case in Shaghai. Finally the Nail House led to passing of The Property Rights Law which emphasizes for the first time that private, collective and public property are equally important and therefore enjoy the same level of protection.


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Global Economy

(Advait Potnis , 26/11/2007)
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