Will China's Property Market Collapse Trigger a Financial Crisis?

China’s property market is on the brink, reminiscent of the U.S. 2008 crisis. Despite housing sales plummeting, Beijing’s intervention might not save the day. Banks, tied closely to indebted local governments and industries, face heightened risks. While big banks seem stable for now, smaller ones, especially rural banks, are on shaky ground. The government’s efforts might fall short, threatening the financial stability of the region and potentially slowing down China’s economic growth.