학술논문
Are We There Yet? China's Property Correction.
Document Type
Article
Author
Source
Subject
*Financial crises
*Real estate investment
*Prices
*Financial markets
*Real estate sales
*Shadow banking system
Correctional institutions
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Language
Abstract
Sales are down, prices are down, construction is down, developers are defaulting, and contagion is spreading to the shadow banking sector. The shocks were calibrated based on the assumptions that the drop in commodity prices is a result of China's slump pushing oil prices down and that the fall in global equity prices is attributed to an increase in uncertainty from the China slowdown. China's real estate correction - which has already tipped developers into default and taken a major shadow bank to the edge of collapse - is a little more than halfway done. [Extracted from the article]