Chinese Real Estate Housing Bubble Growing

Unlike most other capitalist countries, China invests its profits in building infrastructure, both domestically and internationally. Yet its finance capitalists continue to cause problems. According to this article, real estate housing prices are some of the highest in the world when measured in local income. Unsold units accumulate as debt for the real estate industry.  If this housing bubble bursts in China, because of the central importance of China for the global economy, the whole world is in big trouble!

Read in WSWS

About Bruce Lerro

Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his four books: From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning Power in Eden: The Emergence of Gender Hierarchies in the Ancient World Co-Authored with Christopher Chase-Dunn Social Change: Globalization from the Stone Age to the Present and Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia WA.

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