China's housing rescue falls short in city that signaled the crisis
December 18, 2024
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1:24Now PlayingChina's housing rescue falls short in city that signaled the crisis
YouTube Description
as posted by the channelChina’s property crisis has become a massive headache for the world’s second-largest economy. Tens of millions of newly built apartments lie vacant, home prices have tumbled and cash-strapped developers are struggling to finish construction.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Lulu Chen about what China is doing to try and solve its housing crisis. We go to Zhengzhou, home to the world’s biggest iPhone factory and the city where the housing market first imploded. It's now become a testing ground for government efforts to revive the ailing property sector. We look at whether they’re working, and what it will mean for China’s economy if the big push fails.
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