Jim Chanos, founder of the US. hedge fund Kynikos Associates, characterized the prop-erty bubble in China as "Dubai times 1,000--or worse." Many Chinese economists agree.Yi Xianrong, a senior researcher at the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the property bubble in China was far worse than the Dubai crisis in an interview with the Beijing-based International Herald Leader. Edited excerpts follow:

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