Beijing's crackdown on excessive borrowing has weighed on growth and sapped the confidence of investors and consumers. : The impact of China's property crisis is being felt around the world with investors and creditors trying to sell global real estate to shore up their domestic holdings and pay off debt. China's property sector accounts for almost a third of the country's economic activity and an industry-wide meltdown, triggered by a crackdown on excessive borrowing which began several years ago, has not only weighed on growth but sapped the confidence of investors and consumers.