Cities across China are racing to modernize with urban features like high-rise apartments and performing arts centers. Residents on the outskirts are angry that they're driven from their homes and given little reimbursement to aid their move into the city.
Some home prices in Shanghai and Beijing are on-par with lofts in Manhattan. We've already seen what a U.S. housing bubble does to the global economy. But what about a Chinese bubble? Rob Schmitz explains.