If hot China real estate market stumbles, will USA get bruised?

灼热的中国房地产市场下跌是否会挫伤美国市场？

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The real estate industry is pulling the economic growth in China in recent years, the pillar industry in China real estate market is the national economic growth has outstanding contribution.

房地产业是拉动我国经济增长的支柱产业，近年来房地产市场更是对我国的国民经济快速增长有突出的贡献。

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Smaller brands like Versace, however, are under increasing pressure to choose between maintaining stores in Japan's high-priced real-estate market or opening new stores in China.

不过像范思哲这样较小的品牌却面临越来越大的压力，它们需要作出抉择：是保持在日本高价房地产市场的店面，还是在中国开设新店。

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One of the reasons the China real estate market is so hot is because wealthy Chinese are buying up property to hold onto real assets, rather than put money in low yielding bank bonds and volatile equities.

FORBES: Where Rich Chinese Are Buying Real Estate

However, I am not convinced by his bearishness about residential property, and I think he is making a mistake by looking at China as one unified real estate market.

FORBES: Is Jim Chanos Right About A China Real Estate Bubble?

Critics point to a proliferation of ghost towns as evidence that China's real-estate market is a bubble that's bound to burst in a way that will badly damage the Chinese economy.

WSJ: China Pins Hopes on Public Housing