Word: china
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...nothing has driven China's growth more than real estate investment. Last year, fixed-asset investment accounted for more than 90% of China's overall growth, and residential and commercial real estate investment made up nearly a quarter of that. (See pictures of the global financial crisis...
...years, regional governments across China have been building massive real estate projects that have attracted both private and corporate buyers. As prices have continued to rise (residential values in 70 large and medium-size cities across China soared in 2009, according to real estate consultancy Colliers International), more investors have become speculators, buying brand-new properties with the sole intention of flipping them...
...since a huge real estate bust in the U.S. in 2008 was the catalyst for the still lingering global recession, many analysts fear a replay in China could prove disastrous...
Indeed, evidence of property oversupply is everywhere. In Beijing, vast swaths of commercial space sit vacant - including floors of retail space right next to the iconic Water Cube, the 2008 Olympics swimming venue. (See pictures of the best-selling cars in China...
...pictures of China's electronic waste village...