Beijing can rewrite China’s property rules, but it can’t undo the damage
Financial markets are notoriously prone to mistaking a fundamental institutional shift for a temporary liquidity crisis. The futurist Roy Amara is often credited with the observation that people tend to overestimate the short-term effect of a transformation while underestimating its long-term impact. China’s real-estate sector is furnishing a textbook case of an analogous dynamic. On August 28,…
We haven't written up this one. South China Morning Post has the full story — the link below goes straight to it.
