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Economist Keyu Jin on her new book, "The New China Playbook"

Sinica Podcast

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China's Real Estate Bubble

The data doesn't suggest China has a massive bubble. In the sense, if you look at outside of the top four cities, income growth and property sector growth were basically aligned. It is now true that in Beijing, Shanghai, Shenzhen, these cities, the housing price outgrew the income growth. But housing price is an asset price that is forward looking. If you actually think maybe one day Beijing and Shanghai would become the global metropolis in the world, that price will show up in today's prices.

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