Built in 1989, the five-bedroom, five-bathroom residence has been described as "a village that looks inward." There is a main house, an office, a guesthouse and a garage-and-gym structure with a breezeway. The half-acre of grounds include a reflecting pond, a swimming pool and an olive orchard. — latimes.com
In a few cities, such as coastal Wenzhou and coal-rich Ordos, the collapse in property prices has sparked a full-blown credit crisis, with reports of ruined businessmen leaping off building rooftops; some are fleeing the country. — Foreign Affairs
Prospects just few years ago looked great and China had jobs for everybody who were laid off in American market. But now the wind has changed direction. People who were speculating in Ordos and the like places are no where to be found and the bubble is about to burst. View full entry »
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