Great piece on 60 minutes on the Chinese housing bubble, they literally have ghost cities the size of Manhattan full of empty skyscrapers. <embed src="http://cnettv.cnet.com/av/video/cbsnews/atlantis2/cbsnews_player_embed.swf" scale="noscale" salign="lt" type="application/x-shockwave-flash" background="#333333" width="425" height="279" allowFullScreen="true" allowScriptAccess="always" FlashVars="si=254&&contentValue=50142079&shareUrl=http://www.cbsnews.com/video/watch/?id=50142079n" />
I saw that. Billions and billions spent just to prop up their market. I doubt that several hundred million Chinese citizen investors are going to sit quietly while their real estate investments go belly up. They bought these apartment/condo's at very infalted prices, and like their American counterparts are now underwater in a big way.