Signs of some abatement in the country’s property crisis have raised hopes that matters might soon turn around, but they are premature.
Men working at a complex of unfinished apartment buildings in Xinzheng City in Zhengzhou, central Henan Province, China, on June 20, 2023. Pedro Pardo/AFP/Getty Images
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Commentary
Modest good news in China’s long-standing property crisis has emerged. However, it would be unwise to make too much of it.
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
