China's epic hangover begins – China News
www.telegraph.co.uk — China's credit bubble has finally popped. The country's Homelink property website reports that new home prices in Beijing fell 35pc in November from the month before. Chinese stocks are in crisis, too. The Shanghai index has fallen 30pc since May. It is off 60pc from its peak in 2008, almost as much in real terms as Wall Street from 1929 to 1933.
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