How China's Property Slump Is Menacing Its Economy/ Tainlei Huang
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TextPublication details: 2024Subject(s):
In:
Global Asia, Volume 19, Number 04, December 2024, Page 68-73Summary: China's property slump is significantly impacting its economy by dampening consumer confidence and spending. Falling property values increase the risk of mortgage defaults, straining the banking sector and reducing investment in real estate. Despite government efforts to stimulate the market, such as interest rate cuts, these measures have proven insufficient. The decline in household wealth leads to decreased consumer spending, contributing to slower GDP growth and potential social unrest. Overall, the property downturn poses serious risks to economic stability, requiring targeted policy responses to restore confidence and support recovery.
| Item type | Current library | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|
| Journal Article | Mindef Library & Info Centre Journals | CHINA (Browse shelf(Opens below)) | Not for loan |
China's property slump is significantly impacting its economy by dampening consumer confidence and spending. Falling property values increase the risk of mortgage defaults, straining the banking sector and reducing investment in real estate. Despite government efforts to stimulate the market, such as interest rate cuts, these measures have proven insufficient. The decline in household wealth leads to decreased consumer spending, contributing to slower GDP growth and potential social unrest. Overall, the property downturn poses serious risks to economic stability, requiring targeted policy responses to restore confidence and support recovery.
CHINA, SLUMP, ECONOMY, PROPERTY,
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