China's Property Sector Is a Long Term Worry

China has imposed some quite stringent regulatory restraints on borrowing amongst china's property developers. And that has pushed a number of them into quite sdire financial straits, the most prominent being ever grand. We saw in september quite a sharp slow down in property sales and also construction starts. But i think the coal shortages, it's true, will probably be solved within a few month. It's hard to see how that will be resolved any time soon.