Why You Should Be Worried About China's Debt Crisis
Economics Explained
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The Third Driver of China's Insane House Prices
Houses in china cost as much as forty six times what the average worker makes. This is because people don't really have anywhere else to invest. The government has actually tried to control this rampant speculation, but so far it hasn't been particularly effective. There are also structural advantages to owning a home due to restrictions on household registration and access to public services.
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