China's economy is likely headed for a financial crash, market veteran Ruchir Sharma warned.
"In this scenario, the next big step for China is a full-blown financial crisis."
But under another scenario, China's property market may end up mirroring US real estate in the summer 2008, when a downturn was underway but Wall Street didn't see a collapse.
AdvertisementAdvertisement"In this scenario, the next big step for China is a full-blown financial crisis," Sharma wrote.
Amid a growing list of headwinds sweeping through China's economy, its property market is a leading negative.
Persons:
Ruchir Sharma, Sharma, China's
Organizations:
Financial Times, Service, Rockefeller International
Locations:
China, Wall, Silicon, Japan, Tokyo, Beijing