Taps Coogan – December 28th, 2023
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Real estate development, directly responsible for at least 10% of Chinese GDP, the main lever of China’s goal-seeking GDP manipulations, a prime employer, and the personal savings vehicle for most Chinese, has seen its second consecutive year of investment declines. Via Michael A. Arouet:
Who would have thought that economic model based on building ghost cities, idle airports and vacant skyscrapers will run out of steam one day pic.twitter.com/Gv7I2JjanX
— Michael A. Arouet (@MichaelAArouet) December 28, 2023
As we move into 2024, it’s worth remembering that China has the fastest-shrinking population in the world and will lose nearly a million people next year. Its fertility rate remains lower than Japan’s has ever been, it has the largest gender imbalance in the world, and is among the fastest aging populations with nearly a third of the population to be over 60 by 2035.
What a place to build an economy on real-estate capital over-investment…
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