China’s property market debt could weigh on the country for years, economist George Magnus warns

China’s property market debt could weigh on the country for years, economist George Magnus warns

November 9, 2021 Alejandro Ramage 0

Vehicles drive by unfinished residential buildings from the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China September 16, 2021.Carlos Garcia Rawlins | ReutersThe debt problems facing China’s property sector are likely to cause a period of stagnation which affects both the domestic and global economy, according to George Magnus, economist and…