24.10.2008 - Real estate crisis threatens China banks
From Nytimes.com: China’s real estate bubble has turned into a bust in many cities, complicating the government’s effort to manage an economic slowdown here. As China’s real estate boom slows, construction projects are stalled for lack of financing. The pain is obvious in Liu Shirong’s apartment development. Mr. Liu, a shy electrical engineer doesn’t mind living in a complex where only 50 of 780 apartments are occupied and the swimming pool is eternally empty. “I have peace and quiet at night,” he said..... Full Article: Source
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