Video: Australia on China’s property market and ghost cities

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You have seen a few of these videos on ghost malls and ghost cities in China. This one from an Australian broadcast is quite good. It reinforces what I have been saying about the magnitude of non-performing loans and how this constrains Chinese economic policy.

Very sobering.

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1 Comment
  1. DavidLazarusUK says

    Empty cities which cannot be afforded by the majority means that ultimately social unrest will occur. China clearly in not concentrating on what is needed. Make the depositors take serious haircuts on empty property and allow people to buy their homes much more cheaply. Once people have a property of their own they can then become consumers to fill those homes.

  2. Anonymous says

    Empty cities which cannot be afforded by the majority means that ultimately social unrest will occur. China clearly in not concentrating on what is needed. Make the depositors take serious haircuts on empty property and allow people to buy their homes much more cheaply. Once people have a property of their own they can then become consumers to fill those homes.

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