China's mortgage boycott: Could the property market crumble? | Counting the Cost скачать в хорошем качестве

China's mortgage boycott: Could the property market crumble? | Counting the Cost

Real estate has been one of the biggest drivers of economic growth in China, accounting for one-third of the country's $18 trillion gross domestic product (GDP). It is not just the broad economy that relies on it, households do, too. Up to 70 percent of their wealth is tied up in the sector. But, strict coronavirus restrictions and a debt crisis among developers have slowed the property market and halted construction on thousands of projects. Homebuyers are now frustrated, and are refusing to pay mortgages on properties they have bought. Elsewhere, we look at what is next in space if Russia leaves the ISS. Subscribe to our channel http://bit.ly/AJSubscribe Follow us on Twitter   / ajenglish   Find us on Facebook   / aljazeera   Check our website: http://www.aljazeera.com/ Check out our Instagram page:   / aljazeeraenglish   @AljazeeraEnglish #Aljazeeraenglish #News