News this week that Beijing is working on new measures to help revive the struggling housing market is encouraging as China watchers had pretty much given up hope in recent weeks. This contrasts to high expectations in the middle of the year that the authorities were preparing to unleash a major nationwide package to help blunt the damage from President Trump’s trade war. At the risk of sounding like a broken record, we continue to hold the view that the ongoing struggles in residential property remain the biggest drag on China’s economy. Recall that prior to the Evergrande debt crisis in mid-2021, housing was ... (full story)