Bloomberg Surveillance
Bloomberg Surveillance: Markets Shrug Off China Woes
Feb 8, 2024
China's market rout, Chinese government's priorities and resistance against consumer side stimulus, comparing US and China economies, Disney's streaming business and regulatory risk, 401Ks and investing, national treasure and Apple resale market, the importance of data and addressing global issues
30:07
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Quick takeaways
- China's deliberate deleveraging of the property sector may result in a significant slowdown of property market growth for the next nine years.
- Disney is focusing on the streaming business but faces uncertainty regarding the success of its sports app and regulatory risks surrounding media consolidation and competition.
Deep dives
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.
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