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☆ China's economy looks like a mess — but some sectors are quietly doing well in its '2-speed economy'
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Meanwhile, its financial markets are bleeding, the property market has gone up in smoke, local government debt appears alarming, and foreign investors are exiting in droves. Real estate — which was a huge part of China's economy — has been hit badly, he said. AdvertisementTravel has picked up after years of pandemic lockdownServices is another pillar of China's economy that Beijing has been trying to build up. AdvertisementThis is in part because new growth industries are not able to take the place of real estate — yet. Because the property market accounts for one-quarter of China's GDP and more than two-thirds of household wealth, its overall drag on China's economy is much greater than whatever is doing well right now.

Persons: —, Rory Green, GlobalData.TS Lombard, AllianceBernstein, John Lin, Lin, Donald Trump's, Louise Loo, Wood Mackenzie, AllianceBerstein's Lin, Nomura, Loo Organizations: Service, Business, Bloomberg TV, Oxford Economics, Nomura, Oxford Locations: China, GlobalData.TS, Real, COVID, Beijing, Europe, Taiwan, South Korea

☆ China is heading for a 'lost decade' if it doesn't reform and grow, an analyst says
▼ + stars: | 2024-02-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China risks a "lost decade" of slow growth if it doesn't reform its economy, warns an economist. AdvertisementChina faces a "lost decade" of sluggish economic growth much like Japan if it doesn't reform its economy, according to an economist. "China could certainly have a lost decade of growth," Rory Green, the chief China economist at GlobalData.TS Lombard, wrote in a note on Thursday. Leaders are attempting to create a new political-economic model, one less reliant on debt-fueled property-led growth," wrote Green. Meanwhile, technocrats in China generally believe China needs to reform and grow — or risk a Japan-style lost decade, Green added.

Persons: Beijing's, —, Rory Green, GlobalData.TS Lombard, Xi Jinping, Green Organizations: Service, cri sis Locations: China, Japan, GlobalData.TS, Beijing, technocrats

☆ Bad news, Beijing: Real-estate booms like the one in China nearly always end with a major banking crisis
▼ + stars: | 2024-01-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China's trying to manage its property crisis so the sector's troubles don't spill over. However, history shows that credit-fueled real-estate booms nearly always end with a major banking crisis, said an analyst. Real estate was a key driver of China's economy that has been struggling to recover post-pandemic. AdvertisementChina's trying to manage its real-estate crisis so that its troubles don't spill over to the rest of the economy, which has been struggling to recover post-pandemic. "History shows that credit-fuelled real-estate booms do not end in a whimper; rather, they end with a bang — and nearly always with a major banking crisis," wrote Andrew Lawrence, the head of Asia property at GlobalData.TS Lombard, in a note on Tuesday.

Persons: —, Andrew Lawrence Organizations: Service Locations: Asia, GlobalData.TS

☆ Here's what to expect from the Federal Reserve meeting Wednesday
▼ + stars: | 2023-07-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON, DC - JUNE 21: Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services June 21, 2023 in Washington, D.C. Powell testified on the Federal Reserve’s Semi-Annual Monetary Policy Report during the hearing. Win Mcnamee | Getty Images News | Getty ImagesDespite an improving inflation picture, the Federal Reserve is expected on Wednesday to approve what would be the 11th interest rate increase since March 2022. That would push the upper boundary of the federal funds rate to its highest level since January 2001. But apparently the folks at the Fed think they need one more at least." Likewise, Steven Blitz, chief U.S. economist at Globaldata.TSLombard, said a "dovish hike and talk of soft landings" at Wednesday's meeting would be a mistake for the Fed.

Persons: Jerome Powell, Powell, Win Mcnamee, they've, Kathy Jones, Charles Schwab, Jones, —, haven't, Luke Tilley, that'll, " Tilley, I'm, Andrew Hollenhorst, Steven Blitz Organizations: Federal, Financial, Getty, Federal Reserve, Investors, Open Market, Dow Jones, Investment Advisors, Citigroup Locations: WASHINGTON, DC, Washington ,, Central, —, Wilmington, U.S

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