Noahpinion

Noahpinion

Share this post

Noahpinion
Noahpinion
China's real estate trilemma

China's real estate trilemma

China can't sustain growth, boost productivity, and make the middle class whole all at the same time.

Noah Smith's avatar
Noah Smith
Sep 18, 2021
∙ Paid
29

Share this post

Noahpinion
Noahpinion
China's real estate trilemma
21
Share
Photo by <a href="https://unsplash.com/@stevenliuyi?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Yi Liu</a> on <a href="https://unsplash.com/s/photos/juggling?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>

It’s been kind of a slow economic news month here in the U.S. of A., as conservative Democrats quietly carve up Biden’s big spending bill, Delta Covid weighs quietly on business activity, and everyone waits to see if inflation is really transitory. But over in China, big big things are happening. Evergrande Group, China’s second-largest property develop…

Keep reading with a 7-day free trial

Subscribe to Noahpinion to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Noah Smith
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share