Chinese Real Estate Housing Bubble Growing

Unlike most other capitalist countries, China invests its profits in building infrastructure, both domestically and internationally. Yet its finance capitalists continue to cause problems. According to this article, real estate housing prices are some of the highest in the world when measured in local income. Unsold units accumulate as debt for the real estate industry.  If this housing bubble bursts in China, because of the central importance of China for the global economy, the whole world is in big trouble!

Read in WSWS

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