Shenzhen’s urban villagers have quietly amassed a combined fortune of more than $30 billion in ways that escape most outsiders. Villages like Huanggang sit on what has become some of the most expensive real estate anywhere in the world. But as millions of people face uncertain times as they flock to China’s Silicon Valley in search of better lives, resentment is building. Allen Wan reports from Shenzhen and Stella Ko in Hong Kong.
There are more signs the Chinese government is dialing back its sweeping economic and regulatory overhaul that is starting to hit ordinary citizens. Stephen Engle reports on "Bloomberg Daybreak: Asia."
Since the early 2000s some China watchers have been predicting that the building boom would lead to a crash. Twenty years on they may have been proven right. The FT Global China editor James Kynge and FT Beijing correspondent Sun Yu discuss what is happening in it's real estate sector, what that could do to China’s economy and means for the world.
A bitcoin mining facility in upstate New York is using electricity from a local hydroelectric plant powered by the Niagara River. The company is part of a group of miners attempting to make the industry more sustainable, both environmentally and financially.
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Irrational exuberance can lead to malinvestments.
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