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Daniel Lacalle, chief economist / investment manager at Tressis Gestion, states that the Chinese real estate bubble, which he describes as the largest credit-fueled property mania of the last 20 years, is currently bursting.
He argues this development is severely impacting investment, domestic demand, and the foundation of household wealth in China.
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Lacalle has also commented on market developments outside China. He recently noted that S&P 500 futures hit a new record after a strong rally in the U.S. market. Elsewhere, he highlighted the growing influence of hyperscalers debt over sovereign debt and its effect on the gold outlook.