If China, as no shortage of prophets of doom will argue, is in the middle of a runaway property bubble destined inevitably for a ruinous explosion, then the southern city of Nanning might be one of the first places where the carnage hits. Guangxi, located just north of Vietnam, has historically been one of China's poorest provinces. According to locals, the construction boom that started sweeping through China's eastern coastal regions decades ago only began to take off here in 2004.
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