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3min chapter
China’s uncertain economic outlook for 2023
Dollar & Sense: The Brookings Trade Podcast
The Uncertainty of the Property Market in China
In China, I feel like we don't see such a strong rebound of consumption yet. There seems to be a lot of pent-up saving as we saw in the United States and some other economies. A lot of Chinese household wealth is tied up with the property sector. The fact that the property sector is not doing so well affects households' perception of their wealth dynamics. But certainly over the last year or two, we have seen a bit of a setback to the government's objective for rebalancing growth.
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