New pain for China’s property sector
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 17 August 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Lower gas and electricity costs drove a sharp drop in headline UK inflation in July, Fitch Ratings has downgraded WeWork, and there’s increasing anxiety in China over the real estate sector’s stability.
Mentioned in this podcast:
UK inflation slows to 6.8% in July as energy prices fall
WeWork credit rating cut further into junk territory by Fitch
Retail investors complain to Chinese regulator about Zhongzhi
Country Garden crisis brings new pain to China’s property sector
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. Additional help from Josh Gabert-Doyon, Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The latest episode of the next five podcasts is all about financing net zero. |
| 0:04.6 | I speak to Tim Gould, Chief Energy Economist at the IEA. |
| 0:07.6 | We're up to $1.7 trillion going into clean energy transition investments this year. |
| 0:13.1 | Nick Standsbury, Head of Climate Solutions at LGIM. |
| 0:15.6 | We need to put a proper price on all greenhouse gas emissions. |
| 0:19.6 | And Eric Werners, SVP and Chief Economist are equinox. |
| 0:23.0 | We have to do these things together. |
| 0:24.7 | Industry cannot do this alone. |
| 0:26.8 | Listen to the full episode wherever you get your podcasts. |
| 0:29.3 | Enjoy. |
| 0:33.3 | Good morning from the Financial Times. |
| 0:35.4 | Today is Thursday, August 17th. |
| 0:38.0 | And this is your FT News briefing. |
| 0:40.7 | Inflation in the UK is looking better. |
| 0:43.9 | And we work's junk credit rating is looking worse. |
| 0:48.6 | Plus, a series of missed payments is causing anxiety about China's real estate sector. |
| 0:54.5 | If the real estate sector is failing, |
| 0:56.8 | what are the spillover effects of that on other areas |
| 1:00.2 | of the Chinese economy and the Chinese financial system? |
| 1:03.5 | I'm Sonya Hudson and for Mark Filipino. |
| 1:05.7 | And here's the news you need to start your day. |
| 1:20.7 | There was a big drop in UK inflation last month. |
... |
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