Evergrande and China's property woes
Business Daily
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China's Property Bubble Is About to Burst
Small scale protests have been springing up all across china in the last couple of weeks as reports that ever grand, china's second largest property developer, is unable to meet its debts. The first signs of a property bubble that's been growing and preparing to burst in china. Property ownership now is about 80%. So that means about four fifths of chinese citizens have their own apartments or their own homes. And as a share of the economy, it's about a quarter of the economy. That includes all the industries that are related to it, like commoditiesin iron, steel, cement, copper,. which is a huge proportion.
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