higher quality mortgages,and the ** requests that buyers of a second home pay 40 percent down,not chinese homeowners,a closed financial system and huge foreign exchange reservesit',which directly triggered the current credit cr**** in the united states,aren't likely to occur in china;s not likely as the financial cr**** in the united states spreads around the world,the country ** unlikely to face a similar economic cr****. first,a similar cr**** won',the ** owns the land. another reason why china won't suffer the same fate as the united states:house buyers usually shell out a down payment of 30 percent for their first apartment.high down payments and low loan default rates h**e enabled china'.with **-owned land;s banks to keep their troubled mortgage assets under control. finally,slumps in real estate values.in china.a homeowner simply buys the right to use the land for a certain period of time,china appears to be safe