Three years ago, Chinese policymakers sought to engineer a gradual slowdown in the country’s debt-laden real estate sector to tame bubbly prices and snuff out financial risk.
What they got instead was a real estate meltdown that’s destroyed household wealth in the world’s second-largest economy, wrecked the offshore bond market and deprived local governments of much-needed revenue.
10 Charts That Show How China's Property Crisis Is Spreading Across Economy - Bloomberg
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