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Xi consolidates his rule as economic problems mount
The Rachman Review
China's Real Estate Bubble Burst
The Chinese property sector has been a long-awaited problem for the economy. The country's banking regulator is now assessing Chinese banks for systemic risk of real estate bubble burst. Property and related services account for 29% of Chinese national output, which is absolutely huge. Millions of Chinese are protesting because they're paying mortgages on prepaid units that will never be built.
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