China’s Real Estate Bubble, and Hopes for Democracy

For CBS’ 60 Minutes, Lesley Stahl visits China to investigate the “largest housing bubble in human history” and explore ghost cities, such as , Inner Mongolia, and housing and shopping developments that have been built and left empty around the country:

Stahl interviews developer Wang Shi who acknowledges that the bubble is “dangerous” and on the verge of bursting. In an accompanying Internet feature, Stahl also interviews real estate mogul — the “richest self-made billionaire woman in the world” — who made waves not for her comments on the real estate market in China, but on , made in the last minute of this clip:

60 Minutes Overtime gives more background on Zhang’s comments and discusses her activity on weibo:

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[The SOHO Sanlitun office and shopping area, developed by Zhang Xin and her husband . Photo by TonyV3112 / Shutterstock.com]

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