The baby boom was indeed controlled by the communist cadres and the Beijing government mandate. Fine! What about the real estate bubble that is growing day by day? The Western economists who sit glued to news on new developments in a developed state called People's Republic of China, entertain a genuine fear that the boom in the real estate sector may cause more misery and pain than the downturn had caused globally.

Is this fear an imaginary one? Is the fear of a new crash real? Is the assessment genuine? These are some nagging doubts that friends of Chin have to address sooner than later. The Chinese fear not. Their Mantra is: abhayam- be fearless. Is it a case of fools rushing in where angels fear to tread? We are no fools, so say the Chinese economists. Where is the problem? The beauty lies in the beholder's eye and the fear of crash in real estate market lies in the minds of over-enthusiastic economists and sensationalist journalists. Calling it yellow journalism may not be appropriate but some sense of sensationalising a piece of ordinary news can't be denied.

Indeed prices of houses and shops in downtown Shanghai, Guangdong and the heart of Beijing has risen four times or so after the world economy, especially the American economy showed a trend of recovery and the message was sent out to the rest of the world that the worst was over. China is different. There was no downturn of economy in the sense as was noticed in Europe and America. In fact, China and India were two countries that were not adversely affected to the tune that all financial capitals were and therefore, there was no hue and cry. In fact, the economic pundits in India thought in the initial stages that the Western economies were just crying wolf. China marched in step with India on this count. However, when the tottering Western economies started canceling existing orders for goods supply and in some case didn't take delivery of goods sent, the Chinese economists knew that the problem was a real one.

Now the Chinese don't think that the bubble in real estate would burst sooner than later. Let the bubble grow. Let the real estate economy find its own position in the Chinese market and then in the world market. After all many bigwigs are flocking to China to do commerce with them. They need houses and shops in a big way. So, the real estate economy in China is bound to grow. It will keep growing until the Americans redeem their pledge of freeing their economy from the debt and death-loke strangle hold of China. That day is still far off. In the Indian idiom, we may say ‘Hanooz Dilli door Ast (the goal is not yet in sight)'.

Please sit back and relax. The Chinese bubble in the real estate domain is not going to burst in foreseeable future.