Little bit of patting myself on the back but when I was at the WSJ I think I wrote a piece on Chinese presales and why you should worry about them about once every two weeks
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Me and wrote this longer piece on Tahoe Group, a luxury developer that stopped building its unfinished units, to the dismay of those who'd bought them, a couple of years ago. Those dynamics at play are now visible across the property market
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This was my take on the consequences too, which look far less like a market-economy financial blowup and more like a chronic, basically permanent waste of resources reflected in miserable productivity growth. IMO this is already happening. wsj.com/amp/articles/t
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