#LondonCalling: Beijing has no Plan B. @JosephSternberg @WSJOpinion
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 26 June 2024
⏱️ 13 minutes
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Summary
#LondonCalling: Beijing has no Plan B. @JosephSternberg @WSJOpinion
https://www.wsj.com/articles/inside-chinas-troubled-real-estate-market-4945dd06?st=ikna2zxg9hgp61e&reflink=article_gmail_share
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Transcript
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| 0:00.0 | This is |
| 0:05.0 | this is CBS I and the world. I'm John Bachelor. |
| 0:08.0 | The People's Republic of China, the economy is tattered, |
| 0:12.0 | especially the real estate market. |
| 0:14.6 | Joseph Sternberg, writing political economics for the Wall Street Journal |
| 0:18.7 | editorial page. |
| 0:19.5 | He's a member of the editorial board. |
| 0:20.9 | He's in London. |
| 0:22.2 | He was many years in China observing the China. the The prices in Hong Kong were astronomical before that word arrived in America. |
| 0:37.0 | However, recently the Chinese property market is one large piece of the failing economy and Joe has a column up talking |
| 0:46.4 | about why this is true and why the Chinese Communist Party confident that it could |
| 0:51.1 | correctly sell-off has not been able to, has not been able to put a |
| 0:55.8 | floor in the real estate market despite stimulus, despite making promises |
| 1:01.7 | about helping with a down payment, despite allowing the lowest |
| 1:06.1 | interest rate to go lower. Joseph, a very good evening to you. The Chinese |
| 1:10.6 | Communist Party is frustrated. What are they trying that's not working and do they keep trying it? |
| 1:16.0 | Do they have new ideas? |
| 1:17.0 | Good evening to you. |
| 1:18.0 | Hi, John. |
| 1:19.0 | So I'd be the backstory of this which we've been talking about for a few years now is that back in 2020, |
| 1:24.8 | Shizhinping in the Communist Party government in China tried to start gently |
| 1:30.1 | deflating a property market where property prices had gotten way out of control, |
... |
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