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China’s economy is looking at a new wave of Japanification
New research suggests that Beijing’s property market is as bubbly as Tokyo’s two decades ago
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China today looks “strikingly similar” to Japan in its post-property bubble era, warn analysts.
PHOTO: REUTERS
Leo Lewis
The next few months put Japan in line for a series of anniversaries it would probably prefer to forget. But these are dates which the leadership in China may be wise to mark: the detonation of time bombs with counters set ticking by a property bubble.
For these are, some would argue, distinctly echoey times. New research suggests that if it is not careful, China may be on track for a new wave of Japanification.
