I think what was meant is China allowing a foreign investment corp such as Blackrock to become involved in housing speculation in the first place.

I was meaning the speculator market companies which grew far too large during china's development, and had the attention of predatory western investment companies which wanted to strengthen these companies. A fault to china's goal to prosperity as these companies which were largely ignored, and allowed to fester into the tumors which blight china's economy, a fault which needs correction. Something which china's doing by nationalising them after they fail.