Insight 2022/2023
In 2022, Chinese millennial homebuyers took to the streets and social media to wage a boycott on mortgage payments, as their homes stood unfinished with financially distressed developers unable to complete them. Real estate and its related industries make up a hefty one-third of China’s economy. So, as Insight’s Wei Du explains, any property crisis would ripple out into the world - with reduced imports of steel and timber from countries like Australia and Indonesia, for instance.
Insight 2022/2023: China millennials’ mortgage boycott: Why the property crisis?
In 2022, Chinese millennial homebuyers took to the streets and social media to wage a boycott on mortgage payments, as their homes stood unfinished with financially distressed developers unable to complete them. Real estate and its related industries make up a hefty one-third of China’s economy. So, as Insight’s Wei Du explains, any property crisis would ripple out into the world - with reduced imports of steel and timber from countries like Australia and Indonesia, for instance.
Insight 2022/2023
INSIGHT is a one hour long hard current affairs programme that aims to open the minds of viewers to the political, social and economic realities facing today's societies.
Every week, a team of producers will bring forward compelling arguments, impartial analysis and penetrating insights into topical issues of the day. What's on the menu are topics of concerns that have set the region talking as well as changing trends and events which impact Asia and beyond.
INSIGHT will get you closer to the heart of the issues with insightful interviews and engaging conversations, bringing to you the real story from behind extraordinary experiences.
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