China scrambles to prevent property pandemonium
As defaults escalate, another shock threatens to hit the global economy
NOT LONG ago prospective homebuyers in China would find large maps on the walls of property marketing offices. On display were not only the housing projects for sale. The maps also showed the parcels of government land surrounding the projects and their expected future prices, which were often higher than the home units for sale per square metre. The implication for the anxious buyer-to-be was clear: buy now, or regret it forever. Very soon land prices would be far higher next door.
This article appeared in the Finance & economics section of the print edition under the headline “The other crisis”
Finance & economics March 5th 2022
- China scrambles to prevent property pandemonium
- War and sanctions means higher inflation
- The war in Europe is a triple whammy for emerging markets
- European banks have most to lose in Russia
- South Korea’s economy threatens to become like Japan’s
- Investors are terrible at forecasting wars
- Vladimir Putin’s Fortress Russia is crumbling
From the March 5th 2022 edition
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