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Empty homes and protests: How China's property market strains the world

A glut of unwanted apartments gets part of the blame for a slowdown in the world's second-largest economy. In some places, homeowners are taking to the streets


The emerging world order: Through the author’s travels to Russia, China and Turkey, the book provides an excellent first-hand account of the remarkable changes that are taking place in these territories

Alexandra Stevenson and Cao Li | NYT Jurong, China
For Hu Peiliang, Jurong was a city of cranes, concrete and opportunity. He was so sure it was on the cusp of a boom that last year he moved his family there.

On an overcast day last month, Mr. Hu, a 31-year-old real estate agent, pointed to one new building after another as evidence. New city blocks have been built, crosswalks and streetlights erected overnight. One development straddling several blocks called Yudong International will include 120 buildings when completed.

But who will buy all those apartments? Mr. Hu paused before answering. “I was wondering that myself,” he said. Since July, he has

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First Published: Dec 31 2018 | 9:20 AM IST

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