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It’s become a bit of a hot topic over the last few weeks, but the Chinese housing market is probably far larger than you realise, and that’s one of the reasons it’s garnered so much attention. We’ve all heard about Evergrande defaulting on its bond payments last month, and I know a lot of people were expecting an instant collapse, and they’re now sceptical that the supposed collapse hasn’t materialised. The truth is though, that the collapse has started, it’s just going to take months or even years to fully develop. People like to point to the Great Recession of 2008, how quickly the banks fell in unison, and how quickly the economy took a turn for the worse as a result, but those people are looking at things with rose tinted glasses. The reality is, that the 2008 crash took 2 years to develop, it didn’t happen overnight, and this Chinese property market crash will be no different. It will be a gradual, albeit rather worrying decline, followed by an instant snap, as it all comes crumbling apart. The problems are already there, home prices are already falling, developers are already defaulting, the energy crisis is in full swing, and the Chinese Communist Party crackdowns are only adding fuel to the fires. Today, we’re going to go over and look at the data which proves that the Chinese economy is on a one way downhill path to destruction.
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