Will China Be the Next Japan?

A tale of two housing crises: Charting the path from Tokyo's turmoil to Beijing's bubble.

The haunting specter of Japan's "Lost Decade" – that prolonged period of economic stagnation the country faced in the 1990s – is being invoked again, but this time, with its gaze set squarely on Beijing. With China's housing crisis gaining momentum, there is an increasing alarm that the world's second-largest economy might be on the precipice of its own…