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Chartbook #194 Can Beijing halt China's housing avalanche? The most important economic-policy question for 2023?

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  • Feb 5, 2023
  • #China #EconomicGrowth #Economics
Adam Tooze
@adam_tooze
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adamtooze.substack.com
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Source: FT Few things matter more for the world economy in 2023 than China’s fortunes. Not since the reform period began, have there been more serious question marks over the trajec... Show More

Source: FT Few things matter more for the world economy in 2023 than China’s fortunes. Not since the reform period began, have there been more serious question marks over the trajectory of China’s growth. The 2015-6 near-miss crisis, when the RMB depreciated and capital flooded out of China was a more acute moment of danger. Fear of a repetition still hangs over the current scene. But in 2015-6, the growth engine was not spluttering to the same degree. China did not face the kind of labour market pressures it does today, with youth unemployment rising towards 20 percent and graduates uncertain of their future employment. Nor was China in 2015/6 facing an avalanche in its real estate sector.

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Noah Smith @NoahSmith · Feb 10, 2023
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Good post by @adam_tooze on why China will have extreme difficulty restoring growth to its real estate sector.
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