Xi Tries to Ride a Real-Estate Tiger, and We All May Get Mauled

Through David Asher and Thomas J Duesterberg

As Covid lockdowns and buyers’ riots roil China’s property market, Xi Jinping tries to ride a tiger – to stay in power while clinging to the foolish policies that got him into this position. But as one Chinese central banker said of the country’s housing bubble, the problem with riding a tiger is that if you fall off, the tiger will eat you. What is the probability that Mr. Xi will end up in his throat?

China’s growth has been ravaged by Mr Xi’s draconian Covid lockdowns. Last month, Beijing announced the slowest annualized rate of economic growth since the Covid crash: just 0.4% in the second quarter, down 2.6 percentage points from the first quarter. Services fell by 0.4%. Youth unemployment was at a record 19% in June.

https://www.wsj.com/articles/xi-tries-to-ride-a-real-estate-tiger-and-we-all-may-get-mauled-china-bubble-debt-evergrande-default-techno-capitalism-taiwan-11659557796 Xi Tries to Ride a Real-Estate Tiger, and We All May Get Mauled

Alley Einstein

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