Property market can direct itself
Housing busts can take economies down with them, as the US in the late 2000s, Japan two decades ago and now parts of Europe, can attest. Beijing, worried about the mainland’s slowing economy, has again turned to the troubled property sector to stabilise growth. Measures have worked before and those announced last Monday to stimulate demand aim to replicate the successes. The stock market there and in Hong Kong have given a show of confidence with share prices soaring, but the focus should be less on short-term gains than more forcefully pushing far-reaching economic reforms.
Business Partners
