Property Crisis Looms Large Over China’s Economy

News Snapshot:

Chinese exports and consumer demand gained ground in the first two months of the year after a difficult 2023, according to new government data, but economists are warning that the world's second-largest economy is still struggling to find its footing. The debt-ridden housing market, in particular, is cause for concern, with property sales and new construction projects yet to stabilize, the economists wrote in separate pieces for Chinese think tank the Chief Economists Forum. The ongoing property sector crunch and muted consumer confidence and global demand for exports have weighed on China's economy since it dropped its strict "zero-Covid" policies...