Yan Wang

speaker

275 appearances 1 recordings 1 series first heard Sep 2024 last heard Sep 2024

Yan Wang’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: China’s Missed Opportunity · 6 Sep 2024 podcast

And so if China really wants to achieve five percent growth this year,

They really need to do something very aggressive for the rest of the year.

Well all of them We're not seeing that.

Yeah, that's a great question.

Yeah, so that's precisely the problem, right?

So, you know, they have a lot of e policies to support uh production side, but they have not really done much to support the consumption side.

I think that's that's precisely why we are having this problem.

I I don't think housing loan itself is a is such a big problem.

I think the slowdown in housing from the very beginning, it was mainly a man-made problem, right?

So they imposed very draconian credit crunch on developers.

And then then they had a liquidity crisis.

Then the liquidity crisis deteriorated into something.

So I think that's the reason why the housing market began to really crack.

And then on top of that, the overall economy is slowing, the labor market has become weak, job growth has in the job market has deteriorated, the income growth weakened, consumer confidence has really caved in.

And then that's why demand for consumption has weakened.

So I don't I don't believe uh

housing per se

Uh a mortgage loan is the reason why cons consumers are not spending.

I think it's still it's a reflection of the overall uh very sluggish environment.

Yeah, exactly.

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