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Aveline-Dubach, Natacha: Editorial#Gaulard, Mylène: Changes in the Chinese property market : an indicator of the difficulties faced by local authorities#Ruibo, Han ; Linna, Wang: Challenges and opportunities facing China's urban development in the new era#Aveline-Dubach, Natacha: Finance capital launches an assault on Chinese real estate#Flocke, Ryanne ; Breitung, Werner ; Lixun, Li: Commodity housing and the socio-spatial structure in Guangzhou

Abstract
This article focuses on the reasons for the introduction and rapid abolition of the increment value tax on real estate in Germany between 1911 and 1913. It examines the interplay between the land reformers who campaigned for the tax and the political situation that made it possible for all parties to support an increment value tax. It highlights the fact that the tax neither fulfilled the land reform goal of combating speculation nor generated enough revenue, as was criticised. Nevertheless, the tax was exceptional because it represented the first direct financial relationship between the Empire and the municipalities. A changed political landscape made the introduction of a property tax possible, which in the eyes of many made the increment value tax redundant.

The great housing convulsion that buffeted America between 2000 and 2010 has historical precedents, from the frontier land boom of the 1790s to the skyscraper craze of the 1920s. But this time was different. There was far less real uncertainty about fundamental economic and geographic trends, making the convulsion even more puzzling. During historic and recent booms, sensible models could justify high prices on the basis of seemingly reasonable projections about stable or growing prices. The recurring error appears to be a failure to anticipate the impact that elastic supply will eventually have on prices, whether for cotton in Alabama in 1820 or land in Las Vegas in 2006. Buyers don't appear to be irrational but rather cognitively limited investors who work with simple heuristic models, instead of a comprehensive general equilibrium framework. Low interest rates rarely seem to drive price growth; underpriced default options are a more common contributor to high prices. The primary cost of booms has not typically been overbuilding, but rather the financial chaos that accompanies housing downturns.

State promotion of export oriented development in China through a system of special development zones contributed to both rapid economic growth and indiscriminate reproduction of special zones. Land use transformations have resulted in significant losses of arable land, and new state policies to conserve land and control land use through the revised Land Administration Law. Critical comparison of industrial development in the special zone phenonemon and the evolving land use disposition system demonstrates contradictory domestic political land economic policies of land development, land management, and land conservation. This analysis assesses land development trends in the south China coastal zone and adopts a geographical approach to examine the spatialities of the land use regime, across the administrative hierarchiy, in the nature of the distinct rural and urban land use markets, and in land monitoring problems. Problems revealed in the land disposition system demonstrate how the state's land use regime has promoted land development. New controls over land use coincided with the need to restrict service sector development in real estate and related industries at the onset of the regional economic downturn in 1997. (J Contemp China/DÜI)