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China’s real estate bubble

This isn’t a new story but it is worth watching the video. Note that the gentleman leading Lesley Stahl around is the same one from the fifth link below in the Australian report on China’s property market.

From CBS News in the US:

“China’s economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history. Lesley Stahl reports.”

Video below

Also see: China to Raise Budget Deficit by 50 Percent to Boost Demand – Businessweek

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About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

1 Comment

  1. Bill Bishop says:

    you might appreciate this take on the 60 minutes story, from my dealbook column this week:
    http://dealbook.nytimes.com/2013/03/04/chinas-push-to-cool-down-housing-raises-questions/