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IPFS News Link • China

Leading economist: China facing real estate crash

• Terrence Aym
China's economy has been forging ahead at a sizzling rate. The last quarter of 2010 came in with a bang louder than Chinese New Year—analysts pegged the growth in their economy at more than 10 percent. Yet a leading Chinese economist sees warning signs from an overheated economy growing too fast and a dangerous real estate bubble forming like the one the United States had during the first decade of the 21st Century. The U.S. bubble didn't burst, it exploded, and that worries Yu Yongding, senior fellow at the Chinese Academy of Social Sciences (CASS). CASS is linked to the the controlling State Council, a major government body.