The Myth of China's Property Bubble

Five years on, the US economy remains sluggish after the bursting of a house-price bubble.

More recently, the focus has been on China — the world’s second-largest economy — and whether it too might be overwhelmed by a similar event. Reports of ‘ghost cities’ and of property developers facing bankruptcy have become commonplace. Some commentators have even asserted that the bubble may have already ‘popped’.