With a huge economy like China’s slowing for nearly all of 2018, other countries were bound to feel the effects.
Case in point: Australia.
It has been one of the hardest hit as China has slowed – especially in residential and business real estate. And if China continues to slow – as Hedgeye predicts it will through at least early 2019 – that could mean bad news for Australia in the near term, according to Hedgeye Financials analyst Josh Steiner.
“China went from $32 billion to about $15 billion [in real estate investment] – or just about a 50% decline – in just one year,” Steiner explains in the clip above.
“That’s a massive slowdown and just an enormous shift.”