No one else can be certain either. It's always very difficult to tell whether the numbers coming out of China are real and how "real" certain markets are.
But personally I wouldn't buy into the "China is doomed" narratives that the internet loves to bring up yearly. Reality is usually far more boring and the issues (especially central gov ones) are usually far more deep rooted and survive long term like cockroaches.
Regardless the article links to some major long term worries in China's real estate which account for 30% of their assets. The number of defaults is declining but the housing market is still in a major slump:
But personally I wouldn't buy into the "China is doomed" narratives that the internet loves to bring up yearly. Reality is usually far more boring and the issues (especially central gov ones) are usually far more deep rooted and survive long term like cockroaches.
Regardless the article links to some major long term worries in China's real estate which account for 30% of their assets. The number of defaults is declining but the housing market is still in a major slump:
https://www.cnbc.com/2023/07/26/china-signals-more-support-f...