Gates of Vienna News Feed 10/5/2011

Gates of Vienna News Feed 10/5/2011The economic crisis in China is rapidly worsening. Real estate prices are down, and a collapse of the property bubble seems imminent. The banking sector is holding a lot of bad debt, and as a result a credit crunch has begun. The unavailability of credit has forced a number of small- and medium-sized businesses into bankruptcy, and more failures are expected.

In other news, several Palestinian leaders say that they want former prime minister Tony Blair dismissed as the envoy of the Quartet in the peace process with Israel. They say he has lost the confidence of the Palestinians, due to his obvious pro-Israel bias.

To see the headlines and the articles, open the full news post.

Thanks to C. Cantoni, Gaia, Insubria, JP, Kitman, Mary Abdelmassih, Nilk, papa ray, Rembrandt, Vlad Tepes, and all the other tipsters who sent these in.

Commenters are advised to leave their comments at this post (rather than with the news articles) so that they are more easily accessible.

Caveat: Articles in the news feed are posted “as is”. Gates of Vienna cannot vouch for the authenticity or accuracy of the contents of any individual item posted here. We check each entry to make sure it is relatively interesting, not patently offensive, and at least superficially plausible. The link to the original is included with each item’s title. Further research and verification are left to the reader.