China’s own Big Apple may be rotting from the core. A new central business district modeled after New York City is going up in Tianjin…but the nation’s slowing economy is exacerbating the risks from its unprecedented credit binge…and that’s putting China’s Manhattan project in jeopardy. Bloomberg TV’s China Correspondent Stephen Engle reports. (Source: Bloomberg)
Are these ghost towns in China a sign of an impending global crisis? What are the flow on effects on the currency markets? Share your thoughts in the comments below.