More stimulus is coming, and very soon. This is entirely welcome. Social stability is paramount and the way to achieve this is by having a thriving real estate market.
In truth, the CCP don't know any other way. The current path whilst admirable to limit pollution is really economic madness and has almost been a death blow to many players. Imagine telling one of your most important and strategic industries to limit production during a period of world record steel prices. I'm talking about the production and export of steel.
I think that It won't be long before the price of Iron ore is driven up again beyond the current $100 - $110 range.
I think that the policy gurus in China might have thought that the Winter Olympics would be enough to keep the economy buzzing but I doubt they factored in the (not so) everGrande problems.
Let it rain cash from the PBOC.
Iron ore price, page-41851
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