American Morning

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April 14th, 2010
11:00 AM ET

China Rising: China's real estate bubble trouble

Editor's Note: This week in our original series "China Rising," we're assessing China's economic impact on the United States. Tomorrow on American Morning, some say China is poised to become the next economic super power, but that contradicts the life hundreds of millions of Chinese people live. We'll take you on a tour of China like no other.

(CNN) – Property values in China are skyrocketing. Experts say the prices in March grew at a record pace, despite government attempts to slow them down.

Our John Vause reports on the impending threat that the real estate market presents not just to China, but to the rest of the world.

Filed under: China Rising
soundoff (One Response)
  1. Blake

    What all these so-called experts neglect to mention is that in China, over 50% of real estate is paid for in cash. Also, Chinese banks require a sizeable down payment, like we used to. Our real estate bubble burst nearly destroyed our economy because so many loans were underwater, and our financial institutions were dealing in financially unsound derivatives. If China's real estate market collapses, the only people that will lose big would be the rich people that are left holding overvalued property. I also like how experts in the US criticize China for not having a free market economy, yet it was our free market economy that caused the global financial crisis. Perhaps Americans just need to admit that capitalism is a failed economic system that is incapable of protecting against economic exploitation and disaster.

    April 15, 2010 at 11:41 am |