The construction site of a China Evergrande Group development in Wuhan is seen on December 22, 2021. Evergrande is the world’s most indebted developer. Photo: Bloomberg
Opinion
Opinion
Painful as it is, China must rid its economy of an ever-rising property market
- It will be impossible to wring speculation out of the sector without much lower prices and a significant increase in financial distress
- But the longer the economy is dependent on an ever-rising property market, the higher the economic costs of reform
The construction site of a China Evergrande Group development in Wuhan is seen on December 22, 2021. Evergrande is the world’s most indebted developer. Photo: Bloomberg
