China’s property bust compounds economic pain

wsj 5 min read . Updated: 19 Jan 2023, 05:43 PM IST Rebecca Feng, The Wall Street Journal
Photo: AFPPremium
Photo: AFP

The country’s housing market contracted sharply in 2022, and is likely to sink further, economists predict

HONG KONG : China’s housing market flipped from being a growth driver to an economic drag in 2022, with sales slumping, prices falling and widespread job losses. The prognosis for this year isn’t much better, compounding Beijing’s efforts to get its economy back on firmer footing.

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