William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."
Opinion
Beijing's new tone is not enough to turn property market around
China still must deal with toxic assets and excess of developers
An unfinished building in Suihua, China: Beijing's new plan does more to treat the property market's symptoms than the underlying causes of its troubles. © VCG/Getty Images
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