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Ontario Premier Doug Ford has urged Prime Minister Justin Trudeau to align with the Biden administration by imposing tariffs on Chinese imports, including a significant levy on electric vehicles (EVs). Ford’s proposal includes at least a 100% tariff on Chinese EVs to protect Canadian jobs and industries. Ford accused China of exploiting low labor standards
China’s significant decline in new housing construction is sparking hopes that the property sector, long plagued by oversupply, may be finding its footing. However, without a comprehensive cleanup of bad assets, concerns about a Japan-like stagnation remain. Currently, China’s real estate situation mirrors that of the U.S. and Spain during their late 2000s property crises.
China’s recent measures to stimulate its struggling property market could pose significant risks to banks, particularly those operating in lower-tier cities, according to a report by S&P Global. Market Dynamics and Risks The new measures, announced earlier this month, include reducing down payment requirements and removing the floor for mortgage rates. These steps are expected
In a recent statement, China’s Vice Premier He Lifeng announced comprehensive measures to manage the risks associated with the country’s property sector, local government debt, and small financial institutions. This initiative is part of a broader effort to bolster confidence in China’s financial system, currently grappling with a property downturn and escalating local government liabilities.
