PHOTO: FILE
UPTO 80 MILLION APARTMENTS EMPTY
This week saw the Chinese Communist Party hold its Third Plenum economic meeting. The world’s second-largest economy faces a number of headwinds, including lower growth rates and high youth unemployment. One of the biggest issues China faces is fixing its embattled real estate sector. Properties lie empty, and many homeowners have lost their life savings after the country’s biggest housing developer, Evergrande, collapsed. Sky’s Asia correspondent Nicole Johnston travelled to China’s ‘rust belt’ in the north-east of the country to witness the scale of the crisis.
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