Featured in FT: Free Lunch: China’s untapped consumer
- Absolute Strategy
- 4 days ago
- 1 min read
China’s zero-Covid pandemic approach and its real estate crash have, however, scarred households. Consumer confidence remains significantly below pre-2020 levels, and precautionary savings are elevated.
There are nascent signs of a turnaround.
“Households have now largely filled the hole in their balance sheets from the decline in property prices with bank deposits,” says Adam Wolfe, emerging markets economist at Absolute Strategy Research. “House prices are stabilising, and demand for safe financial assets should ease.”
Article in full: Free Lunch: China's dilemma - Financial Times