China’s crash-shaped property recovery


The difficulty with long-cycle busts is that they blow up the mean-reverting economist’s toolkit. 

There is no greater example of this than property market crashes and no better version than that underway in China. 

Bloomberg has been cheerleading a Chinese recovery all year, yet it just keeps falling.

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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.