China’s leaders have long lacked the will to implement the necessary reforms, such as a housing tax. It would curb speculation and generate much-needed income for local governments
Save time by listening to our audio articles as you multitaskThe downturn of 2022 was the most severe in recent memory. Sales of floor space plunged more sharply than ever before. Property investment fell for the first time since records began in 1999. Funds raised by developers fell by a quarter. For the past 15 years house prices in China mainly went up. They have spent the past six months sagging like a termite-weakened floor.
Now zero-covid is over and policymakers are rushing to revive animal spirits. Limits on how much some developers are allowed to borrow have been suspended. The central government has ordered banks to rescue unfinished projects. Some local authorities are putting up guarantees for developers so that they can raise more debt.
All this means that the Chinese economy should bounce back more quickly in the near term, helping to propel global growth. The danger now, however, is that China goes too far.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
January Kickstarter: how to improve your cardio fitness – without runningHow to improve cardio fitness without running.
Consulte Mais informação »
Patients are spending months without routine care because community nurses are in crisisA community matron tells of why the state of the NHS makes her 'cry inside', with one patient waiting months for routine treatment because of short staffing
Consulte Mais informação »
It Took a ‘Good Guy Without a Gun’ to Disarm the Monterey Park ShooterThe 'good guy with a gun' debate has resurfaced, but experts note that more guns can increase the risk of casualties.
Consulte Mais informação »
Akon insists men are superior to women and can have babies without them in rantAmerican and Senegalese singer Akon has made a bold claim that men can make babies without women after ranting that women need to remember their role as being inferior to men
Consulte Mais informação »
Rick and Morty will continue without Justin Roiland, after co-creator dropped following domestic abuse chargesPopular animated comedy Rick and Morty will continue without co-creator Justin Roiland, who was dropped after it emerged he'd been charged with felony domestic abuse.
Consulte Mais informação »
First glimpse of giant burst pipe that left Milngavie residents without waterScottish Water have released pictures and a video of the 36' pipe that burst in Milngavie yesterday and led to 100,000 properties being left without a water supply.
Consulte Mais informação »