Monday, March 4, 2013

Boom and Bust of Chinese Real Estate

Vast cities are being built across China at a rate of ten a year, but they remain almost uninhabited ghost cities. It's estimated there are 64 million empty apartments.
6o Minutes Reported on the Real Estate Bubble Sunday.
 
It happens rarely. But every once in a while, during a 60 Minutes interview, someone will drop a bomb into the conversation and say something that shocks even our veteran correspondents. That happened to Lesley Stahl in this week's interview with a Chinese billionaire named Zhang Xin.

Did She Really Just Say That? Xin on Democracy




1 comment:

Shivani D. said...

It's interesting that she felt the need to interject with her own view of government and what China's government is lacking. Clearly China's government is so oppressive that something needed to be said.
As for the ghost towns, this seems to be such a remarkable waste of money and time, building up towns in desolate areas. The money could be used towards poverty/other changes.