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China Hits a Great Wall

Gordon G. Chang, Forbes | September 15, 2010

While many commentators warn of the impending eclipse of Europe and the US by China in the near future, the upcoming “Chinese Century” will in fact last only a few years. ++ A number of factors account for this. ++ Demographic growth is declining and the number of environmental refugees is set to increase dramatically. ++ Compounding these difficulties, eighty million residential units lie empty across the country. ++ If left alone, a property crash will ensue, and if the government props up the market, years of stagnant growth will follow.