The frenzied development pace of the world's fastest growing national economy has some fearing an impending real estate bust.
Impressive economic growth and preparations to host the 2008 Olympics in Beijing are leading to soaring real estate prices that have some analysts predicting a bubble that could quickly burst. The country's fortunes have certainly changed in recent years. "Economists now see China as the world's second-biggest engine stimulating global economic growth, behind only the U.S. It is the world's fourth-largest trading power and the fastest-growing major national economy." But the spectacular speed of growth, particularly with respect to new development projects, needs to be carefully controlled.
Thanks to Erin Clark
FULL STORY: China's Boom May Be Building Toward a Bust
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