Teneo's Wildau On Evergrande Developments

The transcript discusses the impact of China's economic policies on offshore investors, highlighting efforts to minimize damage to offshore creditors. It explains the policy-induced slump in China's housing market, noting that policymakers could reverse it but have chosen not to. The expansion of property tax trials is seen as a significant reform, indicating confidence in the system's resilience. Challenges in implementing economic reforms are discussed, with a focus on the property tax and its implications for the growth model. The transcript also analyzes market dynamics, including developer defaults and the government's response to moral hazard.

What challenges do policymakers face in implementing significant reforms in China's property sector?

In what ways might the actions of developers like Fantasia reflect their relationship with the government?

How does the current state of the housing market in China compare to previous years?