Price War Spreads Across China's New-Home Market | Bloomberg: The China Show 8/20/2024

“Bloomberg: The China Show” is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter.

Chapters:
00:00:00 - Bloomberg: The China Show opens
00:00:18 - Breaking: Chinese banks hold lending rates steady
00:03:34 - Dollar extends slide in Asia
00:07:05 - Market strategy with Mirae Asset Management's Joohee An
00:15:36 - Circle K machine kicks into high gear with 7-11 bid
00:20:53 - What to watch in China today
00:24:25 - Breaking: RBA signals cash rate to stay at 4.35% for extended period
00:25:40 - Kuaishou due to report second-quarter results
00:26:59 - "Black Myth: Wukong" video game set for release
00:33:28 - China unleashes rapid drop in new-home prices
00:38:19 - Democratic National Convention gets underway in Chicago
00:44:31 - Asian currencies extend gains against dollar
00:46:46 - State Street Global Markets' Daniel Gerard on whether dollar weakness will persist
00:56:30 - How a price war might impact China's property market and developers' liquidity
01:00:05 - Why the corporate sector is a new source of concern in commodity markets
01:09:10 - Circle K machine kicks into high gear with 7-11 bid
01:15:31 - Saudi Arabia's stock exchange looking to woo Asian investors
01:20:52 - President Biden set to speak at DNC
01:24:32 - Big Take: Lawless city in Laos is haven for scammers, crime
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[lastChang]

The liquidity of Evergrande was the beginning, not the end, of the Great Fall of 🇨🇳China.
Now, this is just a continuation of that.

[yongchen]

In San Jose, California. An average home price costs $2 millions dollars. china's real estate price is falling and there are oversupply homes to sell. while japan, singapore, south korea and taiwan working class, a very few people afford to own or even rent a decent apartment. I guess china is doing a good jobs prepare for the future in term of unlimited supply of affordable housing for its 1.4 billions citizens.

[ArabicReja]

Chinese 🇨🇳 property sector, which accounts for 30% of GDP, is crashing.
- Exports and imports, accounting for 37% GDP, are down.
- Foreign investment (FDI) is falling over 90%, lowest in 3 decades.
- Foreign visitors are down 96% compared to the pre-pandemic level in 2019.
- Consumer prices are experiencing deflation.
- Youth unemployment hits over 21%, a record.
- Its fast-shrinking workforce is 10 years older than neighboring countries.
*Still, China keeps reporting outrageous GDP numbers.* Lol
Where does the growth come from?

[alikalexander]

The us is 35 trillion in debt, how anyone can take the dollar serious amazes me

[MrKenng]

Let's hope that the world's economy will worsen rapidly. Let's hope that DJI and European stocks will drop by 4% at least this week. Let's hope that this will prompt the Fed and other central banks to lower interest rate fast enough.

[masahirogo]

I am pretty sure she is a lot taller than him