Chinese See Communist Land Sales Hurting Mao's Poor

Oct. 24 (Bloomberg) -- Bloomberg Television's Stephen Engle reports from the Chinese city of Loudi on how farmers are being uprooted by the local government with inadequate compensation. Cities across China are increasingly seeking to cash in on real estate prices that have risen 140 percent since 1998, by appropriating land from peasants and flipping it to developers for huge profits. (Source: Bloomberg)