February 12, 2012

Is the Chinese building bubble bursting?

It gives every appearance of that. China's economic boom has largely been based on a construction surge every bit as bubbly as the U.S. housing bubble of the previous decade. So, if only one month's figures, a notable cutback on construction activity is cause for concern indeed.

And, because of globalization, for better and often for worse, things like this don't stay in Beijing.

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