6min chapter

Business Daily cover image

China's economic challenge

Business Daily

CHAPTER

China's Real Estate Bubble Could Bring Down Millions of Stes

Millions of middle class chinese have for years been buying flats. But now major property companies like evergrand are teetering towards bankruptcy. One ratings agency this week estimated that china's banks could face mortgage losses of up to 350 billion dollars. Economist george magnus reckons the ty slump casts a shadow over all kinds of sectors in china.

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