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The ferrous complex flamed out on November 16, 2022:
Just one addition today. Yesterday I dug into the long-term history of Chinese land sales as leading indicator for property starts and discovered the following:
Pretty much everybody in Chinese property development seems to understand that the post-2015 boom was a bubble. Chinese property was effectively built out before that but Beijing decided to go for one more kick of the can.
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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.
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