Why China needs to fill its empty homes
The country’s economy is broken. A recovery requires a healthier property market
If not another flat was built and sales continued at their current pace, it would take eight years to sell all the homes lying dormant around Luoyang, a city of 7m in central China. The region is a hot spot for the country’s property crisis, where years of overbuilding have turned entire districts into housing graveyards. Sprawling wastelands of concrete and glass scar the city.
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This article appeared in the Finance & economics section of the print edition under the headline “Haunted by ghosts”
Finance & economics November 2nd 2024
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- Donald Trump would leave Asia with only bad options
- Why China needs to fill its empty homes
- Ireland’s government has an unusual problem: too much money
- Sin taxes are suffering from a shortage of sinners
- Will bond vigilantes come for America’s next president?
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From the November 2nd 2024 edition
Discover stories from this section and more in the list of contents
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Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith
