Warnings that China’s campaign to cool its property market will go too far are multiplying.Economists at Nomura Holdings are calling the curbs China’s “Volcker Moment” that will hurt the economy. The credit squeeze in the property sector is “unnecessarily aggressive” and may weigh on industrial demand and consumption, wrote colleagues at Bank of America. A prominent Chinese economist cautioned of a potential crisis should home values drop below mortgages.Stabilising China’s housing market under…
Source : South China Morning Post
Read more…Is China at its ‘Volcker Moment’ as real estate curbs spiral out of control? More economists are joining the chorus in saying yes
