China “paradigm shift to much lower growth”

Scuttlebutt is the new currency in the Chinese property adjustment:

Speculation circulated after the mid-day break about lenders being asked to increase developer loans, driving traders to take the opportunity to bargain hunt despite skepticism. A Bloomberg Intelligence gauge of Chinese developers jumped 3.7%. The gains offset a selloff of tech shares as Alibaba joined Tencent Holdings Ltd. to become the latest online giant that missed estimates in this earnings season.

Yawn. The following excellent video from China Beige Book is all you need to know about China’s “paradigm shift to much lower growth”:

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