With the trade war biting perhaps it is for real this time
https://www.scmp.com/comment/opinion...better-economy
With the trade war biting perhaps it is for real this time
https://www.scmp.com/comment/opinion...better-economy
Clearly the journalist who penned this article knows nothing about zombies. You must destroy the BRAIN. A stake through the heart is for vampires.If the government can drive a stake through the heart of the zombie sector, it will go a long way towards helping China solve the local debt problem and deepen market reform.
In all seriousness the reckoning is coming for the Chinese economy. It grew so fat so fast that it could absorb epic waste and corruption. The whole world is curious to see if their economy and China as a whole, can get over the next hurdle of behaving like a mature economy.
In every Chinese city you visit, there are hundreds if not thousands of middle-class apartments built way in excess of the requirement (working-class people cannot afford them), and yet the housing sector is stable: the central government regulates the rate at which the empty homes come onto the market and the schedule according to which developers have to repay their loans.
The Central government is a magician at regulating state enterprises in relation to the private (dynamic) sector; don't expect significant change soon!