Internet + Real Estate = Free?
The “surge” in property prices in Beijing, Shanghai, and Shenzhen at the beginning of this year was enough to drive one to despair; it felt as if the Chinese economy had completely given up its chance for a soft landing. We all know reform is necessary, but I really do not know where the “turning point” lies. Dragging things on is possible—take North Korea as a reference—but if we really still hope for successful reform, then it is hard to imagine avoiding a collapse. The only remaining suspense is when it will collapse, and who will be the first to collapse. It’s not that I’m being pessimistic about China. I…
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