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Chinese city economies need to cut reliance on real estate: state media

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China’s regional economies need to reduce their reliance on the property market for growth and focus on sustainable longer-term development, the Communist Party’s People’s Daily wrote on Wednesday.

“All areas should focus on their own urbanization processes, develop their own pillar industries according to population mobility and resources, and form new points of growth to avoid the old road of relying on real estate to drive the economy,” the commentary quoted a professor at the Capital University of Economics and Business as saying.

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The commentary, which appeared in the international edition of the People’s Daily, said a stable and healthy property market is crucial to the development of China’s changing economy.

It cited an analyst as saying that a thriving property market driven by reasonable prices boosts demand for both raw materials and downstream items such as appliances and home decoration.

Average new home prices in China’s 70 major cities rose for a 43rd straight month in November. However, the rate of increase slowed amid weaker growth in the country’s smaller cities, and soft home sales and land purchases suggest a dim outlook for the sector.

The article also comes as a number of Chinese city authorities seek to ease existing curbs on their property markets, despite broader directives from Beijing to keep prices in check. Last week, the city of Hengyang rescinded an order to lift restrictions on property prices that it had introduced just a day earlier.

Reporting by Andrew Galbraith; Editing by Sam Holmes

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GOP will be ‘aided and abetted’ by Russian bots and trolls defending Trump: Former FBI counter-intel chief

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The former assistant director for counterintelligence at the Federal Bureau of Investigation warned Americans to "hunker down" because Russian intelligence will be repeating Republican talking points.

Frank Figliuzzi was interviewed Thursday by MSNBC's Brian Williams on "The Last Word."

"Frank, Fiona Hill -- who richly deserves it -- has been awarded front page status tomorrow morning on the front page of The New York Times, and I imagine newspapers and websites across this country," Williams noted.

"It was extraordinary today when she -- in effect, begged -- asked, certainly, members of the committee to stop supplying Russian talking points, to stop advancing Russian propaganda in the Congress of the United States," he continued.

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Trump has committed 6 impeachable offenses: Harvard Law’s Laurence Tribe says ‘the evidence is all there’

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Constitutional law expert Laurence Tribe broke down the six impeachable offenses President Donald Trump has committed during a Thursday appearance on MSNBC's "The Last Word" with Lawrence O'Donnell.

Tribe has argued 36 cases before the United States Supreme Court and taught at Harvard Law for 50 years. He co-authored the 2018 book To End a Presidency: The Power of Impeachment with Joshua Matz.

"Everyone was in the loop, it was no secret. That was the testimony from Ambassador Gordon Sondland yesterday as he implicated the president, Secretary of State, White House chief of staff, and former National Security Advisor John Bolton and other administration officials in the plot to bribe the president of Ukraine to publicly launch an investigation into Joe Biden in exchange for U.S. military aid to Ukraine that was authorized by Congress and that the president was withholding," O'Donnell reported.

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Rachel Maddow breaks down how public opinion is catching up with the facts of Trump’s impeachment

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MSNBC anchor Rachel Maddow on Thursday broke down how the details from the televised impeachment hearings are being reported in local newspapers.

The host read the headlines from multiple newspapers following the damning testimony by Ambassador Gordon Sondland.

The Los Angels Times headlined, "Sonland implicates president." "Envoy says Trump directed effort," was The Wall Street Journal headline.

The St. Louis Post-Dispatch headlined, "'Everyone was in the loop. It was no secret': Defiant Sondland says he followed Trump's orders."

"Trump directed pressure on Ukraine, ambassador says," headlined The Kansas City Star.

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