China Bubble Watch: Why Isn’t Anyone Talking About Local Gov’t?
Journalists and bloggists (sounds balanced that way) have been punting around the topic of China’s real estate ‘bubble’ for many weeks now. The question that has garnered the most attention is whether or not the market is actually experiencing a bubble or whether this is sustainable growth.
Fun stuff, and I have participated myself. However, I get the feeling that the analysis focuses too heavily on banks, developers, and speculators/home owners and fails to address secondary effects of a possible market adjustment.
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© Stan for China Hearsay, 2010. |
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