摘要
Local officials and the Central Government have different ideas about how to put the country’s topsy-turvy real estate market back on track when Meng Qinghai, a correspondent for China Central Television, traveled to Shenzhen in July, he discovered a disturbing situation-one similar to the U.S. subprime mortgage crisis had emerged in one of China’s most economically developed cities. Some home buyers there reported that they had stopped making their monthly pay- ments on their mortgages. The reason was simple: When their home prices dropped,
