Money Talks: China’s property crisis

Deskripsi

Thousands of building projects across China have been halted or dramatically slowed as a rolling crisis engulfs the country’s property sector. The government’s “three red lines” policy sought to limit the leverage of property developers, but has now forced scores of them into default and restructuring. Confidence in the market has evaporated. And in a country where people buy their homes in advance, long before they are built, that wave of worry has sent sales tumbling.On this week’s podcast, hosts Mike Bird, Alice Fulwood, and Tom Lee-Devlin ask whether there is an end in sight to China’s growing property woes. The Economist’s Don Weinland takes a trip to Zhangzhou to examine what went wrong. Long-time China-watcher Anne Stevenson-Yang explains why real estate looms so large over China’s economy and Beijing-based property analyst Rosealea Yao explains what it would take to bring the crisis to an end.Sign up for Economist Podcasts+ now and get 50% off your subscription with our limited time offer: www.economist.com/podcastsplus-moneytalksYou will not be charged until Economist Podcasts+ launches.If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription.For more information about Economist Podcasts+, including how to get access, please visit our FAQs page. Hosted on Acast. See acast.com/privacy for more information.