China's Perplexing Property Boom

blogs.telegraph.co.uk:

It is notoriously difficult to get a handle on China's property market -- the bears talk about imploding ponzi schemes, while the bulls cite the pace of urbanization and the comparatively low amount of leverage most Chinese have on their properties.

More worrying, say the analysts, is the amount of potentially duff loans that have been dished out to China's local governments which threaten to weaken China's banking system, which is scrambling to recapitalize at the moment.

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