Vietnam 

Lexus Việt Nam recalls GX460 cars to fix airbag faults – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Nearly 300 Lexus GX460 cars will have their airbag inflators checked and replaced. — Photo plo.vn Viet Nam News HÀ NỘI — Lexus Việt Nam is recalling nearly 300 Lexus GX460 units due to airbag faults, according a report from the importer. The vehicles, which were manufactured from May 15, 2014 to February 10, 2017, will be checked and airbag inflators for the front passenger seat will be replaced. The airbag inflators, supplied by Takata Company, may be at risk of moisture as a possible cause for…

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Will China take out the axe to fix the slowing property market?

Expect China to step in to goose the all-important but slowing housing market this year – but not by too much, and mostly at the local level. Cities are already taking small steps, like lifting price caps and removing re-sale restrictions. More actions like that are more likely than big policy moves at the national level, China property experts say. Policymakers are looking for the right mix to keep home prices in a desirable range. Prices had skyrocketed until about the middle of last year, when, largely due to cooling…

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Owners of underperforming hotels see redevelopment as a quick fix to city’s housing woes after CK Assets’ proposal

An increasing number of hotel owners in Hong Kong’s non-core areas are considering rebuilding their property into residential use while viewing it as a quick fix for the city’s perennial housing shortfall, following CK Asset Holdings’ proposal to redevelop its 1,100 room hotel into a housing project. “Why on earth do we have so many rooms in industrial and outlying areas that get so few tourists while so many Hongkongers are still waiting for a chance to buy their own house? asked William Cheng Kai-man, chairman of Magnificent Estates, which…

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Deleveraging is the wrong way to fix China’s economy, when it doesn’t even have a debt problem

The Chinese economy has been characterised by a stop-go pattern and policy flip-flops since 2010: a period of strengthening growth is always followed by a bout of monetary and fiscal tightening, which invariably leads to a growth slump and forces the government to reverse policy again. The root cause of this curious economic back-and-forth is that the Chinese government has fully embraced the popular view that the economy is overleveraged. Thus, whenever business activity is strengthening, Beijing always quickly curtails credit creation to deleverage the economy, and it always backfires.…

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Property 

‘Fix our flats, or give us back our money’: buyers protest against Vanke build quality

Angry homebuyers who protested outside housebuilder China’s Vanke’s headquarters in Beijing last week, have dismissed the company’s claims it had been fully transparent during the sales process at a development in the capital, and have vowed to continue to fight for justice. Tensions first flared between the two sides after the buyers gained access to their multimillion yuan flats a month ago, only to find what they claim are serious quality issues. Two dozen of them noisily gathered at the office gates on Thursday afternoon, wearing white masks and T-shirts…

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Can China fix its runaway housing market?

A year ago, President Xi Jinping declared “houses should be for living in, not for speculation.” Already, some big cities like Beijing and Shanghai had begun turning themselves into virtual laboratories, searching for cures to runaway housing prices. Xi’s renewed call – given added weight by being delivered at the milestone Party Congress last October 18 – set off yet more experiments. Now, as home prices are dramatically slowing in Beijing and some other megacities, it appears that at least two of the experiments – price caps on new flats…

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