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This is John Bachelor speaking with colleague Anne Stevenson Yang about the property

bubble, the property collapse in China.

What is to be done?

The Chinese are recommending different solutions.

Perhaps the simplest would be unsecured loans from banks.

However, none of these things satisfy,

and I follow Anne's reporting that there is no solution except for a complete

change of business plan. Here's Anne to explain and how China will react is indicative of the present surveillance

regime in Beijing.

In other words, when you can't satisfy people who are owed money, you try bullying people who are owed money.

Here's Anne.

Well, I don't think there's any saving the property sector.

I think that Beijing needs to pivot and they have made half-hearted attempts to do that.

...