Li, Shigang: Chinese mainland’s economic over-reliance on real estate
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Date: 11/11/2013 5:47:22 PM
Sender: Li, Shigang
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Li, Shigang: Chinese mainland’s economic over-reliance on real estate
李世刚（Li, Shigang）
Chinese mainland since the reform and opening, sustained development, the total amount of the national economy has risen to second in the world.
However, beneath the surface of prosperity, lurked a great crisis, because China＇s economy in 30 years is actually a deformity of the bubble economy, the future is likely to completely collapse.
The so-called bubble economy deformity, is the Chinese economy since the reform and opening up, mainly dependent on real estate development to promote economic growth.
Through large-scale real estate construction, driven by the growth of iron and steel, energy, building materials, transportation, household appliances and many other industries, thus promoting the overall development of the national economy.
But the problem is over-reliance on real estate development in China, especially since the local government can be made a fortune by selling the land grant, is sparing no effort to develop construction, resulting in a serious backlog of excess real estate, office buildings and residential building was completed many years still can not sell, this situation accumulated to a certain extent, it will inevitably lead to a collapse of the economy, China should pay attention to this phenomenon.
Li, Shigang
November 11, 2013
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