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Chinese Real Estate Bubble on 60 Minutes

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Tags Booms and Busts

03/04/2013

Here is the link to a Bloomberg story that contains a link to the "60 Minutes" story. We have been following the story of this bubble for a while but nothing makes something "real" as when it turns up on "60 Minutes." Economist Stephen Roach says that the ghost cities will someday be "thriving metropolitan areas."

He may well be right, but the key question is what will happen between now and then.

Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics. He has authored seven books and is a frequent guest on national radio shows.

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