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China continues to face the consequences of a house price bust
From notayesmanseconomics.wordpress.com
The chart I am about to show rather attracted my attention over the weekend. After all we have been looking at the theme of weak Chinese house prices for some years now. For newer readers net exporters ( China, Germany and Japan) all tend to have weak domestic consumption. In China deficient domestic demand was such an issue they took a leaf out of the playbook of us Western Capitalist Imperialists and encouraged a housing boom to benefit from Wealth Effects which would boost consumption. That is the theory at any rate. But boom turned to bust as we have been following and below is a new version of that. The chart is ... (full story)
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