China Looks a Lot Like Japan Did in the 1980s
I suspect China will avoid an all-out crisis, but economic growth will limp along at next to nothing or worse
Bloomberg 9 November 2021
https://www.bloomberg.com/opinion/articles/2021-11-09/china-s-economic-model-is-probably-broken
Some of us still remember the Japanese bubble economy — or as the Japanese themselves called it, the “babaru economy” — of the late 1980s, when prices of many assets, above all commercial real estate, went completely crazy.
Then everything crashed.
The bursting of the Japanese bubble didn’t lead to a financial meltdown. But it was followed by a prolonged period of economic weakness
Paul Krugman NYT 24 September 2021
https://englundmacro.blogspot.com/2021/09/suppose-evergrande-isnt-another-lehman.html
Why China’s Real Estate Slowdown Isn’t Like Japan’s
Bloomberg 10 november 2021
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