Kazakhstan's Construction Collapse

The global financial crisis has hammered the building business in Central Asia's largest country. Recovery will depend on the oil market

Shouts of "Give houses to the people!" rang out when casualties of Kazakhstan's collapsing construction industry gathered in an Almaty square earlier this month. Many in the crowd said they were homeless after taking out mortgages on apartments that were never built. Once the symbol of boom times in Kazakhstan, today the construction sector reflects the economic slowdown and the country's vulnerability to the global financial crisis.

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