China's property troubles may slow the economy down, Nicholas Lardy, a China economy expert, told CNN.
However, the issues will not create a financial crisis, he added.
Even so, one Chinese economy expert thinks the crisis is unlikely to spill over into the broader economy.
Advertisement Advertisement Watch: Ken Rogoff on the next financial crisis and the future of bitcoinChina's property sector has been gripped in a crisis since 2021 when property giant Evergrande ran into a liquidity crisis.
The market was so hot that Chinese developers were taking on massive borrowings to build apartments ahead of demand.
Persons:
Nicholas Lardy, it's, Ken Rogoff, Evergrande, Lardy, Lina Batarags
Organizations:
CNN, Service, Peterson Institute for International Economics
Locations:
China, Wall, Silicon