this post was submitted on 12 Mar 2024

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China's housing minister says real estate developers must go bankrupt if necessary (www.cnbc.com)

submitted 8 months ago by schizoidman@lemmy.ml to c/worldnews@lemmy.ml

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[–] nekandro@lemmy.ml 4 points 8 months ago (1 children)

A property glut? Look at China's urbanization rate. A short-term oversupply is easily consumed by increasing urbanization. You cannot apply the American model to an economy in a different state of development.

[–] HobbitFoot@thelemmy.club 3 points 8 months ago

This has been an internal Chinese determination. China has stopped building large skyscrapers and mass transit with this being determined on the national level since pre-Covid.