Might China's mortgage boycotts threaten the worldwide economic system? – The EconomistAugust 18, 2022
Mortgage boycotts that started in Jiangxi, China have unfold to just about 100 cities throughout the nation, threatening over 320 actual property initiatives. They add extra bother to a property market that was already in turmoil and portend future ache on this planet’s second largest economic system.
On this week’s episode, hosts Mike Hen, Soumaya Keynes and Alice Fulwood are joined by our China economics editor, Simon Cox, and our China enterprise and finance editor, Don Weinland, to seek out what’s inflicting the disaster. First, College of California San Diego affiliate professor Victor Shih explains why the roots of this disaster go way back to the early Nineties. Then, investor Andrew Left re-evaluates his report from 2012 through which he mentioned the now-bankrupt Evergrande – as soon as China’s second-largest property developer – was a fraud. The decision acquired him banned from buying and selling on Hong Kong’s inventory change. And eventually, they ask what this might imply politically for the Chinese language authorities.
Run time: 39 min
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