China “paradigm shift to much lower growth”

Monday, 22 November 2021

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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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.