A first glimmer of hope for China property
Economists already think China’s latest plan to end its property crisis is too little, too late – again.
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Economists already think China’s latest plan to end its property crisis is too little, too late – again.
During the past four years, China shifted the preponderance of its exports to the Global South away from developed markets, and at the same time built production facilities across the Global South that re-export to developed markets—circumventing America’s 25% tariff on most Chinese goods and other developed-market trade barriers.
With a few benchmarks for Chinese stocks up 20% from January lows, a debate is raging between the bulls and bears.
Investors already seem unimpressed by China’s pledge to grow around 5% this year. It’s not because of what Premier Li Qiang said about Asia’s biggest economy but rather what his National People’s Congress report failed to address.
China’s stock investors could be excused for feeling like President Xi Jinping is disinterested in their plight as market valuation losses mount.