The Intelligence from The Economist The homes stretch: Evergrande
Sep 22, 2021
Don Wineland, The Economist’s China business and finance editor, brings his expertise to discuss the Evergrande crisis, China's massive debt dilemma threatening the property market. He unpacks the potential ripple effects on the Chinese economy and global investors. The podcast also dives into Britain's unexpected surge in youth population and its implications for education and job markets. Additionally, it examines how the pandemic has transformed office attire, signaling a shift in work culture.
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China's "Common Prosperity" and Evergrande
- The Chinese government's focus on "common prosperity" aims to address wealth inequality and stabilize the property market.
- This suggests the government might tolerate Evergrande's failure to curb speculation.
Evergrande's Collapse: A Symptom, Not a Cause
- Evergrande's potential collapse is a symptom of China's campaign to deleverage the property sector.
- This creates an artificial cash crunch, impacting other developers and the broader economy.
Brexit and Demographics
- Britain's demographic shift may complicate assessing the true effects of Brexit.
- The youth bulge could influence economic comparisons against other countries.