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China. There are official statistics and there are statistics. NBS China says that existing home prices are down 13.6% from 2021 peak. But Centaline data says that the fall is double that and prices are back to 2016 levels.
Leverage is lower but housing is the main store of
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China. There are official statistics and there are statistics. NBS China says that existing home prices are down 13.6% from 2021 peak. But Centaline data says that the fall is double that and prices are back to 2016 levels.
Leverage is lower but housing is the main store of Chinese household wealth. It is devasting for consumer confidence.
It's no wonder that total bank loans fell for the first time since 2005 when China was a small economy.
A balance sheet recession is underway. The implications for the rest of the world are not pleasant.
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Xiemu — the latest fast fashion hitmaker from China‼️ (Are there any movies starring Jake Gyllenhaal to be released in China?)
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Xiemu — the latest fast fashion hitmaker from China‼️ (Are there any movies starring Jake Gyllenhaal to be released in China?)
Parodying the meteoric rise of e-commerce phenoms Shein and Temu (and maybe Xi too?), models pranced across the screen in $10 dresses and $5 shoes as a
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