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Local governments in China have taken the homes of at least 40 million people, selling that land to developers, in order to keep GDP growth figures well into the black.
The port city of Tianjin has taken on billions of dollars of debt building a city that looks exactly like Manhattan. It hopes to become one of the financial centers of the world. But China's economy is slowing down, and developers and investors are pulling out of the project.
Chinese markets have been on a roller coaster ride ever since the government froze lending between banks last week to combat so-called 'shadow banking'. Where does the world's second biggest economy go from here?
The key stock index in Shanghai fell 5.3 percent today. The loss, the worst in 4 years, comes after China’s central bank froze lending between the country's financial institutions last week.