A study on the causes of the chinese real estate bubble and potential future
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| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | China's Economy economic crisis Economic growth model Fiscal reform Real estate bubble |
| Online Access: | http://dolgozattar.uni-bge.hu/56622 |
| Kivonat: | The Chinese real estate sector has emerged as a significant contributor to the nation's economy, constituting a substantial portion of its GDP and driving economic growth over the past two decades. This study employs an experiential research method to gather, analyze, and synthesize news, data, interviews, and scholarly perspectives related to the Chinese real estate crisis, with a focus on uncovering its underlying causes. Throughout the formation of the real estate crisis, China's distinctive land policies have played a pivotal role. Land finance has empowered local governments to become engines of real estate speculation, relentlessly driving up land prices to bolster local fiscal revenues. Additionally, China's maintenance of a growth model driven by investment over more than four decades has resulted in overcapacity in the real estate sector. The strategy of prioritizing growth, while instrumental in China's economic achievements, has posed challenges for transitioning to updated economic development models. Presently, faced with the real estate crisis, China continues to adopt administrative measures to curtail price declines, while strategically timing economic transitions, aiming to identify new pillar industries beyond real estate to gradually absorb the excesses of the property market bubble. |
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