Is China Heading For a 1929 Type of Depression?

In Shanghai, economist Andy Xie argues that half the Chinese debt is being propped up by real estate prices. Look at the table which compares the Chinese debt bubble to the US sub-prime mortgage bubble. Xie is skeptical that the Chinese Communist Party could intervene successfully, and advocates “hands off the market”. But what does that mean? Is his solution more market fundamentalism or something else? It’s not made clear.

Read in Market Watch

About Barbara MacLean

Barbara MacLean has worked as an academic and career counselor at California State University, East Bay (CSUEB), Merritt and West Valley Colleges and as a career counselor and manager of the Oakland One Stop Career Center, a public career and jobs center in partnership with EDD. She is a co-founder and editor of Planning Beyond Capitalism.

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