Firstly , no reference to Tiananmen Square and the Dot Com bust then SARS as causes for the early 2000s market slide
Second , HK has traditionally been able to climb out of property market slumps by ‘laissez faire’ and ‘positive non interventionist’ stance from Government - as described , a few overstretched small banks and minor developers take the hit , disappear or flee to Taiwan and the growth cycle starts again . Interesting to see if the CCP can accommodate this approach - no sign of it so far .
Firstly , no reference to Tiananmen Square and the Dot Com bust then SARS as causes for the early 2000s market slide
Second , HK has traditionally been able to climb out of property market slumps by ‘laissez faire’ and ‘positive non interventionist’ stance from Government - as described , a few overstretched small banks and minor developers take the hit , disappear or flee to Taiwan and the growth cycle starts again . Interesting to see if the CCP can accommodate this approach - no sign of it so far .