The sharp recent decline in China’s real estate and construction marketplace, after years of boom-style growth, has resulted in some unique events, including this six-machine construction equipment street fight.
The video shows one driver running unhurt out of his toppled bulldozer, a fast-moving type of vehicle also known as a wheel loader, while another bulldozer tries to lift it back up.
The construction workers were from two companies competing for business, Xu Feng, a local government spokesman in Hebei province?s Xingtang county, said on Monday. He said he couldn?t disclose details about arrests or injuries until an investigation was concluded.
China?s construction sector has fallen on hard times, with growth down by two-thirds from its peak a decade ago. Real estate construction represents close to a quarter of China?s economy, a far higher proportion than other major countries, and its slowdown was sending ripples through industrial sectors such as steel, glass and cement, causing waves of layoffs.