China's economy, has become the second largest in the world. On "60 Minutes," J Capital analyst Anne Stevenson-Yang talked with Lesley Stahl about one of the effects of rapid growth-- the housing bubble. "There's a range of possibilities," says Stevenson-Yang regarding the affect of the real estate market boom. "But the worst scenario is that everybody wakes up one day and finds that their money is gone and their apartments are worthless."
Must-see morning clip: A Doomsday scenario for China's real estate market
Analyst Anne Stevenson-Yang tells Lesley Stahl about the potential consequences of China's housing bubble
By Prachi Gupta
Published March 4, 2013 3:00PM (EST)
Prachi Gupta is an Assistant News Editor for Salon, focusing on pop culture. Follow her on Twitter at @prachigu or email her at firstname.lastname@example.org.MORE FROM Prachi Gupta • FOLLOW prachigu • LIKE Prachi Gupta