This is normally great news. This is normally reason to celebrate. I can count on one hand the times when Caleb has been referred to as normal. So why was I frowning? Why did I get the sinking feeling in my stomach that I usually get when given dire results?
Corruption perceptions indices suggest that China is not especially corrupt for its level of development and actually does better than many more developed countries, including Russia, Argentina, and Mexico.
We can expect that policymakers will continue to have to periodically step back into the property market with successively tighter administrative controls, continuing to play Whack-a-Mole with China's burgeoning property bubble.