Real Estate Crisis Is at the Heart of China’s Economic Troubles - The New York Times

In a rare act of defiance, people across the country who bought property from indebted developers are refusing to repay loans on their unfinished apartments.

When a rural bank froze withdrawals in Henan Province in central China, it set off a violent showdown between depositors and security forces. Recent college graduates are struggling to find work with… [+3249 chars]

full article...