South Asia and Beyond

China Real Estate Crisis Poses Global Risk: U.S.

The U.S. Federal Reserve has warned that China’s real estate crisis poses risks to the global economy. The real estate sector amounts to around 30 per cent of China’s GDP, and the crisis over Evergrande, a huge property company, saw GDP go down from 7.9 per cent to 4.9 per cent in the second quarter.

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