60 Minutes: China’s Real Estate Bubble (VIDEO)
China’s Real Estate Bubble
China’s economy has become the second largest in the world, but its rapid growth may have created the largest housing bubble in history.
China’s real estate quandary
Financial analyst Gillem Tulloch tells Lesley Stahl that the Chinese government has sent mixed messages on real estate – trying to contain the bubble while demanding economic growth.
“Doomsday” scenario for China
Analyst Anne Stevenson-Yang explains how China’s real estate boom was created — and what might happen to property owners if the bottom falls out.
Containing China’s real estate bubble