China’s property market debt could weigh on the country for years, economist George Magnus warns
Magnus suggested that after at least two decades of expansion in the Chinese real estate market, due to the government’s willingness to step in to boost the market when it began to look perilous, Beijing may no longer be willing or able to do the same this time around.
“They are in a bit of a bind. I expect they will try to help the property sector out this year, and in 2022 before the congress in November, but I think the market faces years of stagnation, to be honest.”
Our economic predicament is not a temporary or traditional condition. The economic model that drove the long boom from the 1980s to 2008, has broken down.
The 2008/09 financial crisis has bequeathed a once-in-a-generation crisis of capitalism
George Magnus, FT 12 September 2011
https://www.internetional.se/minskybank.htm#magnus0810
China is likely to experience greater financial turbulence than it has seen recently, which may not happen by the end of this year but will not take three years either.
George Magnus, FT 29 April 2016
https://www.internetional.se/smoot2.htm#three
https://www.internetional.se/casablanca.htm
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