china real estate crisis: China's property market meltdown exceeds expectation. Time to rethink reforms and innovation?
The market for Chinese developers dollar-denominated bonds has seen a meltdown over the past two years, losing 87% of its value. The rout has wiped out USD135.5 billion of value from USD154.9 billion of outstanding notes, as per Debtwire. This has sparked calls for a fresh approach to stimulating the property market including government-funded construction of affordable housing.
Source: indiatimes.com