Impact of the US credit crunch and housing market crisis on China

Yao, S. , Luo, D. and Morgan, S. (2010) Impact of the US credit crunch and housing market crisis on China. Journal of Contemporary China, 19 (64). pp. 401-407. ISSN 1067-0564

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Publisher's URL: http://dx.doi.org/10.1080/10670560903444355

Abstract

Similarities between the US, the UK and the Chinese housing markets, including the movements of interest rates and house prices, and the exposure of some Chinese banks to the US mortgage securitization market, have triggered concern about whether China could experience a US-style credit and housing market crisis. Significant differences between China and Western economies make that unlikely in the near future. China’s booming house market has been supported by fast economic growth, rapid urbanization and high domestic savings. Chinese banks have also been less exposed to mortgage defaults than their Western counterparts. However, the relative underdevelopment of the financial system—credit monitoring and asset securitization—may expose China to domestic mortgage lendingrelated crises.

Item Type:	Article
Uncontrolled Keywords:	United States, credit crunch, housing market, China
Faculty/Department:	Faculty of Business and Law > Department of Business Management ~Pre-2010 Faculty Structure > Bristol Business School > Centre for Global Finance ~Pre-2012 Faculty Structure > Faculty of Business and Law > Department of Business and Management ~Pre-2012 Faculty Structure > Faculty of Business and Law > Centre for Global Finance
ID Code:	12311
Deposited By:	Dr D. Luo
Deposited On:	14 Jan 2011 10:52
Last Modified:	11 Jan 2013 20:24