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Billionaire: Chinese real estate is 'biggest bubble in history'
Thebig problem, according to Wang, is that prices
keeprising in major Chinese cities like Shanghai, but
arefalling in thousands of smaller cities where huge
numbersof properties lie empty.
property 财产;房地产
properties lieempty 房屋空置
Thereare massive sums at stake in the real estate
market:direct loans to the sector stood at roughly
24trillion yuan($3.6 trillion) at the end of June,
Accordingto Capital Economics.
real estate market房地产市场
Trillion 万亿
“Theproblem is the economy hasn't bottomed out," Wang said. "If we remove leveragetoo fast, the economy may suffer further.”
bottom out 触底
leverage 杠杆
Bubble 泡沫
RealEstate 房地产
Leverage杠杆
HardLanding 硬着陆
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