-
Keynes and Hayek in China’s Property Markets
Real-estate prices in China’s top cities are spiking, generating contradictory predictions of either bursting bubbles or a coming economic turn-around. What’s really going on in China’s hot property markets? China’s National Bureau of Statistics (NBS) revealed last week that ten of the 70 large and medium-size Chinese cities surveyed had recorded annual price increases of more than 20% for newly built commercial housing. In the first-tier cities of Shanghai and Shenzhen, those gains were even higher: above 37%. In the second-tier cities of Xiamen and Hefei, the increases exceeded 40%. Erdogan Whither Turkey? ... (full story)