An interesting article from the New York Times highlighting the inequalities caused by the the real estate and property boom in China. After living in China for 5 years I can relate to the impact this is having. Actually, if you look at my adorngeo banner above and go to the picture 4th from the left in the bottom row you will see a picture of two boys. I took this photo in Beijing, the area they lived in was being demolished and is a now a high class apartment area. I wonder what became of these boys.
“The country’s property boom has spawned new cities, remade older ones and — not incidentally — helped float the buoyant economy that is a bedrock of Communist Party legitimacy. But its benefits are spread unevenly. In Beijing, local officials plan to demolish about 60 areas like Laogucheng this year alone, mainly to erect high-rise complexes and greenbelts. That plan affects more than 180,000 residents, and has set off several ugly clashes.”