China Struggles to Prop Up Real Estate Market as Defaults Mount
• China proposes $278B stimulus to prop up collapsing markets, but experts fear it may fail • Chinese property developers defaulting on loans, leaving homebuyers without homes paid for • 70% of Chinese household wealth in unstable real estate market • China has high 286% debt-to-GDP ratio, limiting options to intervene • If stimulus fails, risks contagion and inability to contain economic depression