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The Bursting Chinese Housing Bubble Compounds Beijing’s Economic Woes
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China’s deflating property bubble is imperiling the world’s second-largest economy with effects that could ripple for years.
Home prices are dropping in many cities after a long period of increases, data from Chinese real-estate developers and official statistics show. Sales of apartments nationwide by the country’s largest developers have slumped annually for 13 consecutive months, according to industry-data provider China Real Estate Information Corp.
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