China property bubble and Barclays’woes

A picture shows the Barclays Bank headquarters in Canary Wharf, east London, on May 8, 2014. Scandal-hit Barclays said it will shrink its investment bank unit as part of plans to axe 19,000 jobs across the entire group over the next two years. AFP PHOTO / CARL COURT

CHINA’S property boom is said to be on its last leg and possibly reaching systemic proportions.

“In 1990, Tokyo’s total land value accounted for 63.3% of US GDP (gross domestic product), while Hong Kong reached 66.3% in 1997.