, Columnist
Why Metals Will Shrug Off History’s Greatest Property Crash
It’s not just bondholders impacted. China’s construction sector accounts for nearly 7% of the world’s carbon emissions, and its hunger for material affects renewables, too.
It’s all boom and bust.
Photographer: Qilai Shen/Bloomberg
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A curious thing has been happening in China’s vast real estate market — or rather, not happening.
For two years, a financial crisis has rocked developers China Evergrande Group, Country Garden Holdings Co., and China Vanke Co. along with their roughly $700 billion in assets. Building activity, however, has until recently been holding up remarkably well.