This is a

CBS, I am the world. I'm John Bachelor.

The Scholar Report with CEO Chris Regal of Scholar.com

transforming the retail space with digital signage on all occupied

continents. We go to Asia. This is reporting from the Wall Street Journal. China

revives socialist ideas to fix its real estate crisis.

Sabahad Shijinping aims to put the state back in charge of the crumbling property market,

part of a push to rein in the private sector.

Chris, a very good evening to you.

The Chinese economy continues to spiral down.

We get these headlines that Beijing, the Chinese Communist Party keeps coming up with ideas of how to fix

what's wrong. I know that what happened is over the years the municipalities borrowed heavily against the future.

You give us the money to the Central Bankers.

We'll build these two Wall Streets or two Versaize or three New York City, Manhattan's out of the dust of our municipality.

And suddenly the workers will show up and will all get rich.

Well the workers showed up but only in Shanghai and Beijing.

So these municipalities are left with unfinished buildings and huge debts they can't pay so they slash the income of

their teachers and first responders.

That's old news.

However, the idea of taking charge of these buildings, before they fall down, they're badly built.

Does this sound like something you've heard them doing before?

Is this a risk? Are they jumping into the unknown?

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