Housing risk in China greater than US, UK

An interview with the Financial Times by Li Daokui, who serves on the Chinese central bank’s monetary policy committee, included an uncharacteristically candid comments on the state of China’s housing market and by implication, the direction of Chinese interest rate movements. From the Financial Times:

“The housing market problem in China is actually much, much more fundamental, much bigger than the housing market problem in the US and UK before your financial crisis,” he said in an interview. “It is more than [just] a bubble problem.”…

The entire post can be read here:

http://www.nakedcapitalism.com/2010/06/chinese-monetary-official-housing-risk-greater-than-in-us-uk-pre-crisis.html