Tuesday, December 6, 2011

Update On A China Ghost Town: Ordos

The video below provides an update on one of China's now famous "ghost towns."  The biggest threat to China is not falling prices but the jobs lost related to the real estate sector.  Famous short seller Jim Chanos has commented that real estate and related development makes up close to 25% of their entire economy.  With prices now continuing to fall month over month, the shock waves will be felt around the world.

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