Wednesday, September 22, 2021
Can China’s outsized real estate sector amplify a Delta-induced slowdown?
From a VoxEU post by Ken Rogoff:
“The Chinese economy was able to sharply rebound from the Covid pandemic, helping to sustain a housing boom. The country faces a multitude of challenges over the medium term, however, on top of the much more virulent Delta variant. This column argues that the footprint of China’s real estate sector has become so large – with real estate production and property services accounting for 29% of the country’s GDP – that absorbing a significant housing slowdown would significantly impact overall growth, even absent a financial crisis.”
Posted by at 5:42 AM
Labels: Global Housing Watch
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