What kind of nonsense is this? Does the USA have a monopoly on the word "police" ? No other country is allowed to call their security forces POLICE?
I believe the house price will down, but perhaps not a crisis. Because in China, the local government get biggest profit from house market.
The market is very different with US market, it is controlled by government. If you monitored Chinese currency, you would notice that Chinese YEN had 10 limit down in a row in last December, because Goldman and others were shorting YEN, pulled Dollar out of China, but Chinese government only took couple days to recover all the 10 limit downs. Any reasonable speculation on Chinese market is doomed to fail, because it is not a free market.
What are the repatriation controls like? Specifically, for foreigners holding Yuan denominated accounts that want to buy USD or EURO?
they use usa bond certs. to wallpaper the housing units. have a 30 year supply. all smoke 'n mirrors. the country has no environmental standards. http://www.youtube.com/watch?v=pLwVycO7V-k&feature=related neuro / chemical issues 100 workers cranking out apple hardware. the people are disposable. s
The average income in Beijing is a bit under $500/month. The provincial cities are much lower. HTF are they going to fill these condos on $6k/year gross income? The ratio of income to value is absurd. The average condo is $250k.
^Some of the condos begin at 70K. Not outside the realm of possibility for a dual income household (12K, year).