x Fareed Zakaria GPS   Set Clip Length:  . you see, a vast
majority of these couples are getting divorced so they can avoid
a new chinese tax. beijing recently decided to impose a 20%
capital gains fee on sales of second homes. so, the theory goes,
if you have two homes and you get divorced, you can register
each home under separate names. then, if you sell one of those
homes, you escape the new tax and then, i guess, you can get
remared. the bizarre exploitation of this loophole tells a
larger story. at an individual level, it shows the importance of
housing as an investment in china. but at the macro level, the
story shows how beijing's new leaders are are struggling is to
deal with what some are calling a property bubble. on the one
hand, prices are soaring in the big cities. in shanghai, for
example, developers say property prices have risen 40% in one
year. this is because demand has stayed well ahead of supply, as
more and more people migrate to big cities. on the other hand,
second and third-tier towns