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NANNING, CHINA – MAY 17, 2023 – A commercial residential property is seen in Nanning, South China’s Guangxi Zhuang autonomous region, May 17, 2023.
Future Publishing | Future Publishing | Getty Images
Weakness in China’s real estate sector could be a drag on the economy for years to come and could even impact countries in the wider region, Wall Street banks have warned.
“We see persistent weaknesses in the property sector, mainly related to lower-tier cities and private developer financing, and believe there appears no quick fix for them,” Goldman Sachs economists led by China economist Lisheng Wang said in a weekend note.
Goldman’s economists said the property market is expected to see an “
Source cnbc.com
