Michael Pettis on What Evergrande Means for China’s Macro Economy
Odd Lots
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China's Property Crisis and Economic Policy
This chapter examines the intertwining of China's property market, particularly the Evergrande crisis, with broader economic policy decisions following the pandemic. It discusses the impact of regulatory crackdowns, the role of real estate in GDP, and the implications for household wealth and consumption patterns. Additionally, the chapter explores concepts like 'common prosperity' and the challenges of boosting domestic consumption amidst declining property sales.
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