China's Property Market and Economic Growth

China's government is deliberately deleveraging the property sector to create a more stable and secure economy, focusing on reducing non-performing loans and credit risks. This intentional effort may lead to a significant slowdown in property market growth for the next nine years. While China has talked about shifting from investment to consumption, the incentives for consumption have not significantly improved, impacting the growth of the consumer market. The Chinese government prioritizes national security, creating a chip ecosystem, and finding alternatives to the US dollar payment system, rather than focusing on high levels of GDP growth.