Foreign Media: Analysts Offer Divergent Predictions on China's Property Market Recovery
UBS forecasts a near-term rebound in China's property market, while Bloomberg believes a medium-term recovery will begin next year; meanwhile, a recent paper co-authored by Kenneth Rogoff, an economist from Harvard University and former IMF official, and an IMF economist, published by the Brookings Institution, presents a relatively pessimistic outlook. The paper draws a parallel between China's property market downturn and Japan's "lost decade," noting that China's real estate adjustment has already lasted six years and remains in the middle phase of a prolonged adjustment cycle.
Approximately 70% of Chinese household wealth is concentrated in real estate, significantly higher than in major economies such as Japan and the United States.
Original article: toutiao.com/article/1862191366235466/
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