Economist Podcasts
Home groan: China’s housing-sector crisis
Aug 22, 2023
Don Wineland, The Economist's China business editor, discusses the turmoil in China's housing sector, highlighting the struggles of major players like Country Garden and Evergrande. He explains how these issues impact the broader economy and citizen confidence. Meanwhile, Guy Scriven, US tech editor, takes us on a ride in San Francisco's autonomous taxis, exploring the technology, safety concerns, and public opinions surrounding this innovation. Both guests also touch on the alarming decline of Antarctic sea ice and its implications for climate change.
26:59
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Quick takeaways
- The financial troubles of China's housing giant, Country Garden, raise concerns about the stability of the Chinese economy, impacting both private and state developers.
- The introduction of self-driving taxis in San Francisco sparks debates on safety, job displacement, accessibility benefits, and the need to demonstrate the superior safety of robotaxis over human drivers.
Deep dives
China's Housing Crisis
China's housing giant, Country Garden, is facing financial troubles, raising concerns about the stability of the Chinese economy. As Chinese citizens heavily invest in housing, any doubts about the housing market can lead to a loss of confidence in the economy as a whole. The government has implemented measures to support cities and ensure the continuation of home construction projects, but the widespread impact of the crisis could have far-reaching consequences, affecting supply chains and eroding confidence in both private and state developers.
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