No hard landing for Chinese property. It’s a crash landing instead. The latest sales numbers are a disaster:
OMICRON is being beaten back for now:
At the price of recession:
And the moment it opens up again, OMI will run wild back into new lockdowns ad infinitum.
As expected, CNY is starting to crack:
This is the beginning of the end for the global cycle which cannot endure a falling CNY as it hollows out everybody else.
China has entered the endgame of its building crisis.
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.
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.
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