Posted 12/13/2023, 4:09:00 AM
China Faces Decade-Long Economic Crisis as Massive Real Estate Losses Threaten Banking Sector
- China's banking sector is in free-fall according to veteran investor Kyle Bass, with estimated real estate losses of at least $4 trillion
- An unchecked real estate development boom in China has led to a deep crisis
- Empty homes in China could house 3 billion people, indicating massive oversupply
- Losses may dwarf those seen in the US during the Great Financial Crisis when banks lost around $700 billion
- Experts warn China's property sector troubles could last up to a decade due to wider economic headwinds