China is facing a multifaceted challenge as it seeks to assert its position as a global technology and industrial powerhouse while grappling with a crumbling property market. President Xi Jinping is confronted with more than just a stock-market rout; his ambitions for China to become a global technology leader are at stake. Furthermore, China's strategy to expand its global power includes becoming the world's leading shipyard, enhancing both its industrial and military capabilities. However, the nation's massive property market is in decline, prompting Xi to consider reviving socialist housing ideas and reintroducing state control in an effort to stabilize the market. This approach includes plans to nationalize parts of the troubled real estate market and construct low-income housing, strategies that have seen limited success in the past.
China plans to turn to its old playbook of nationalizing problems by taking over portions of its troubled RE market and building lots of low-income housing. It has tried that in the past and failed to carry through. @Lingling_Wei @yifanxie https://t.co/MpJaab82Mf
China’s massive property market is crumbling. Xi Jinping wants to revive socialist ideas about housing and put the state back in charge. https://t.co/EH4YyK5kcJ via @WSJ
China’s massive property market is crumbling. Xi Jinping wants to revive socialist ideas about housing and put the state back in charge. https://t.co/BUf0u5JQnG https://t.co/BUf0u5JQnG
China’s massive property market is crumbling. Beijing thinks it has a plan — one centered on remaking the market in line with Xi’s socialist vision. Will it work? Thoughts are welcome. W/@yifanxie https://t.co/K68jow48RK
China’s massive property market is crumbling. Xi Jinping wants to revive socialist ideas about housing and put the state back in charge. with @yifanxie 🧵 https://t.co/BJSIWRW0EP via @WSJ
"Given China’s ambition and technological prowess, America’s survival as the world’s leading superpower will depend on its industrial strength," writes @Michael7ucci. https://t.co/H7gzrCsgmF
China emerged as a global power by turning itself into the world’s factory floor. It is expanding that power, and its military might, with another industrial feat: becoming the world’s shipyard. https://t.co/MI5FuaO3V5 https://t.co/MI5FuaO3V5
Xi Jinping faces a bigger problem than yet another stock-market rout. At stake is his ambition to turn China into a global technology powerhouse. @Lingling_Wei https://t.co/7c6zVlKu7y https://t.co/7c6zVlKu7y