China’s Housing Crash Will be Far Worse Than You Think - #ProactiveThinker | #China will face an economic crisis if it doesn’t end its zero-covid policy: ‘Beijing is racing against time’ - #GRID #investing #Stockmarket #money

"Over the past several decades the economic portrait of China has evolved — in historically rapid fashion — from slow-growing poor nation to fast-rising global economic power. For several years, forecasters have debated not whether, but when the country will overtake the U.S. as the world’s largest economy. 

But while China remains an economic juggernaut, it’s also facing a whole lot of economic trouble at the moment. There are warning signs on multiple fronts — from covid-related shutdowns to falling housing prices, from rising income inequality to a dearth of jobs for university graduates — and the government is almost certain to miss its target of 5.5 percent GDP for 2022. It may miss that mark badly. As one Bloomberg analysis put it this week, the “data for July suggest confidence is collapsing among China’s businesses and households.” 2022 will also be remembered as the year that China hit a dubious demographic milestone: Its population has begun to shrink. That’s not just a current problem — it could pose all kinds of long-term challenges for China if the decline cannot be slowed." 

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