November 15, 2021
Real Estate

China’s real estate crisis could threaten growth into 2022. Beijing’s undeterred

By Laura He, CNN Business

China’s growth is seriously slowing down as the country lurches from one economic threat to another. And while some of the biggest pain points appear to be easing, an unfolding crisis in real estate is emerging as one of Beijing’s toughest challenges in the coming year.

The country’s GDP grew at its slowest pace in a year last quarter, expanding just 4.9% from a year earlier. Compared to the prior quarter, the economy grew a mere 0.2% in the July-to-September period — one of the weakest quarters since China started releasing such records in 2011.

Disruptions due to the global shipping crisis and a massive energy crunch contributed to the slowdown.

Shipping delays and mounting inventories in China have hit smaller manufacturers that are now hurting for cash, resulting in lost orders and production cuts. And factory output has been…

Read full article here: kesq.com