One reason the Chinese have backed away from our RE...

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While the US stock markets have been motoring to new highs, the Shanghai bourse has been hitting fresh 52 week lows. 

 Some of the easy money brought here came from the huge gains insiders got for cashing out their holdings in the newly public companies. The appetite for this type of speculation has been waning in recent times as the Chinese economy has been cooling (still booming though compared to us or Europe).