China Collapse?

The Daily Bell provides an overview of China’s real estate market which they (and others) claim has already collapsed. This collapse is expected to bring  down the Chinese economy and what remains of the world economy.

Here is an excerpt from the article:

And here is some of the text that accompanies the video below …

Chinese Vice Premier, Li Keqiang, in charge of the real estate regulation, said on Nov. 25th that China’s real estate market is at a critical stage. Even with a decline in real estate transactions, the government is continuing to cool down the housing market.

According to a New York Times report, 1/6 of luxury houses in Shanghai, 1/4 in Beijing and 1/3 in Shenzhen are empty. The ratio of empty houses in China has surpassed the international warning standards. The New York Times questions whether China’s real estate bubble has burst.

… Xie Guozhong says China’s bad economic situation in recent years has been down to real estate issues. When China’s real estate enterprises close down over the next few months, if the government would save the enterprises, this would impact China negatively in the long run, once again, confirming that China’s money-making model is stealing money away from the government and the banks. The current economic model offers China no way out.