Why China’s property bubble burst

This BBC Business Daily podcast episode, hosted by Matt Lines, delves into the ongoing property crisis in China, triggered by the collapse of major developers like Evergrande and Country Garden. The episode explores the factors contributing to the crisis, including overbuilding, government regulations, and the use of property as a primary investment vehicle. It examines the devastating impact on Chinese citizens who invested in now-worthless properties, and the broader economic consequences for China, such as hits to the construction industry and local government revenues. Experts like Alexandra Stevenson from the New York Times, Desmond Shum, and Alicia Garcia-Herrero from Netixis, provide insights into the causes, current state, and potential future impacts of the crisis, both within China and globally, including China's shift towards manufacturing and exports. Henry Wang offers a perspective from Beijing, highlighting the government's measures and the growth in other sectors of the Chinese economy.