More on China’s Housing Market and Other Links

Topic of the day: China’s Housing market (no links yesterday, but a bunch today. Here is the topic of the day: China and its housing market. What we want to see is a soft landing. But irrespective of this, the question is what a soft/hard landing means for the real economy because of bank credit losses and what effect this will have on global growth.  Note the German Asia links as an example of how these things are interconnected.

I certainly think the signs of a malinvestment bubble are everywhere. However, it is not clear what impact this will have on China’s economy and who will bear the losses for malinvestment. I suspect losses will be socialized via interest rates and other mechanisms as Michael Pettis has pointed out.

Also a few non-housing China links here too. Now, I’m hitting the beach! Enjoy.

• Behind Andy Xie’s China Housing Numbers – TheStreet (Andy Xie’s post here)
• Germany to profit from growth in emerging Asia
• BBC News – China demand sees June rise in German exports
• Kina beordrar fabriker att stänga – DN.se
• Taking a stand on US provocation – GlobalTimes
• Beijing: Sky-high prices push foreigners to suburbs – China Daily
• China Property Prices Rise 10.3%, Least in Six Months – Bloomberg

PS – R.I.P. Matthew Simmons.

The Usual Fare

• "Certainty" Is Nothing But Spin | Capital Gains and Games
• Why can’t Britain export its way out of recession? | Business | The Guardian
• Marginal Revolution: View of Jimmy Carter and his Presidency
• FT.com – US to pay big sums for Wall St tip-offs
• Google and Apple prepare for mobile advertising battle | Media | The Guardian
• AIB ‘faces being nationalised by end of the year’ – Irish, Business – Independent.ie
• ‘Breaking the Buck’ Was Close for Many Money Funds – WSJ.com
• Roles of the President’s White House economic advisors | KeithHennessey.com
• A VC: Enterprise Value and Market Value
• Japan’s Economic Stagnation Is Creating a Nation of Lost Youths – DailyFinance
• The Personality Paradox | Wired Science | Wired.com
• Looks Can Deceive: Why Perception and Reality Don’t Always Match Up: Scientific American
• Employment, Interest, and Money: What Will Happen If the Fed Stops Paying Interest on Reserves?
• Woman Arrested Over Wet T-Shirt Complaints At Florida Children’s Water Park – The Consumerist
• Brain responds same to acute and chronic sleep loss
• Precious metals are best performing assets – Telegraph
• European banks: Distinguishing the walking wounded from the living dead | vox – Research-based policy analysis and commentary from leading economists
• Guest Post: Why Clearninghouses Are a Maginot Line Against Systemic Risk « naked capitalism
• BBC News – Retail sales growth slows on fears of government cuts
• NYT: Happiness is side effect of new frugality – The New York Times – msnbc.com
• Marriage and the role of the state – Glenn Greenwald – Salon.com
• Matthew Simmons, Who Said Global Crude Production Has Peaked, Dies at 67 – Bloomberg
• Econbrowser: From Disinflation to Deflation?
• Google and Verizon offer give and take over net neutrality | Richard Adams | World news | guardian.co.uk
• The Rise of the Permabears – NYTimes.com