China Property Collapse Has Begun
Nothing is going right for Hangzhou at this moment. Walmart will be closing its Zhaohui store in that city on April 23 as a part of its overall plan to dump marginal locations about 9% of the total in China.
Thanks to the world's largest retailer, another large block of space in Hangzhou, the capital of Zhejiang province, will go on the market at a time when there is generally too much supply. The problem is especially pronounced in the city's premium office market.
Read Full Story: http://www.forbes.com/sites/gordonchang/2014/04/13...