China’s economic recovery from the Covid pandemic remains lackluster as one of the country’s big real estate companies falters. Meyer, Unkovic & Scott Partner Dennis Unkovic tells Yahoo Finance Live anchor Akiko Fujita that the situation “can get a lot worse.” Unkovic says “seventy percent of the household wealth held by the normal Chinese people is in real estate. When real estate goes down, it just doesn’t affect the markets, it affects everyone in China.”
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9% yoy isn’t that bad
for some context, the YoY increase in consumer spending was 19% for India, a country with significantly lower GDP per capita.
@Ash D US consumer spending is up 0.4% in August month over month, which is around 4-5% yoy. And the stock market thinks US consumers are really resilient.
Developing markets simply have different standards and expectations than developed economies.
This guy is 100% on the mark.
The Chinese government also prohibited the sellers from lowering their prices to sell their homes. That is why we have not seen a big drop in prices yet.
Alot party members are investors too….never drop.
Party is over, 🥳
Evergrande was used to pay china back the trillion we owed in bonds, but guess what every Chinese person that moved to the US for free, well we paid back china now it’s time to take them OUT!!!!!
that 🦇 s o u p will F’ YOU UP! 😵💫
Finally, some China news that is correct.
Just raise import tariffs on steel and cement to solve the Real Estate Problem in China.