Global Impacts of China's Building Boom

The frenzied development pace of the world's fastest growing national economy has some fearing an impending real estate bust.
May 13, 2004, 6am PDT | Erin Clark
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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

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Published on Monday, October 24, 2005 in The Los Angeles Times
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