Market structure

China’s Overextended Real Estate Sector Is a Systemic Problem

August 24, 2022

In the first half of this two-part blog post, I discussed the problems affecting four rural banks in Henan and the subsequent mortgage boycott in parts of China. In the second half, I argue that these crises need to be seen not as isolated events but rather as signs of systemic problems that reveal a great deal about China’s finances and balance sheet.

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