CNBC International
The future of India's highways
- Title
- The future of India's highways
- Runtime
- 1:01
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- Why this Dubai-based artist turns down 99% of prospective buyers
- Runtime
- 8:43
- Date posted
- 2 years ago
- Description
- Known for his magical realist works, Dubai-based Sacha Jafri paints from a mediative state.
“I’m in a complete trance,” Jafri told CNBC. “I have no clue what I'm doing. After it, I will look at it, and I will go, ‘Wow, oh my god!’ Because I'm not aware of creating it.”
He has worked as an artist since the late 1990s, but it was his ‘Humanity Inspired’ collection that captured global attention. The 17,000-square-foot work achieved the record as the world's largest art canvas in 2020.
The following year, he became one of the world’s most expensive living artists after selling his work “Journey of Humanity” for $62 million at a charity auction – though he said he is incredibly selective about what he takes to auction.
“I've made this quite conscious effort to keep my work out of auction,” Jafri said.
“Because you don't want your work in auction too early, you don't want a boom-bust. I also wan...
- Title
- Casino giant Wynn introducing legal ‘gaming’ in UAE
- Runtime
- 0:58
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- How semiconductors are made - and why no one country can own the process
- Runtime
- 30:30
- Date posted
- 2 years ago
- Description
- Semiconductors, or chips, have an incredibly global, complex and intricate production process. The supply chain is spread across the world. As governments focus on boosting their own domestic chip industry, CNBC looks at why no single country can own the chip supply chain.
0:00 - Sponsor
0:30 - Welcome
03:08 - Stat of the week
03:21 - How are semiconductors produced?
05:08 - The history of chips
06:39 - The microchip supply chain
12:49 - Who are the big manufacturers?
13:19 - Is there room for more competition in the market?
14:16 - The rise and fall of Intel
15:48 - Why are countries competing in this market?
19:08 - How the U.S. is competing on chips
24:46 - Where does this leave China?
27:57 - Stat of the week reveal
- Title
- U.S students protest in support of Palestine
- Runtime
- 0:44
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- Could India be the answer to Apple's growth issue?
- Runtime
- 0:37
- Date posted
- 2 years ago
- Description
- Apple has sought to boost its presence in India both in terms of physical stores and iPhone manufacturing. But can India become Apple's next China?
🎧 CNBC Tech: Beyond the Valley | Listen wherever you get your podcasts
#CNBC #Shorts #Apple
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- Title
- Test flight: China's driverless air taxi
- Runtime
- 0:51
- Date posted
- 2 years ago
- Description
- Would you fly in this autonomous air taxi?
eVTOL company Ehang plans to start commercial operations in China before the end of the year.
The two-seater vehicle is designed for short-distance transportation or sightseeing in the city. The firm also has a model designed for travel between cities.
Take a tour of the EH216 and watch its test flight in the linked video.
#CNBC #Shorts #Ehang
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- Title
- Why Apple is betting big on India
- Runtime
- 28:25
- Date posted
- 2 years ago
- Description
- Apple has sought to boost its presence in India in terms of physical stores and iPhone manufacturing. But can India become Apple's next China?
0:00 - Sponsor
0:30 - Welcome
3:20 - Stat of the week
3:32 - Why is Apple looking outside of China?
5:34 - The cost and risks of shifting supply chains
11:24 - India as a tech hub
14:24 - India's smartphone market
18:53 - Can Vietnam compete with India?
22:13 - Should China be concerned?
26:11 - Stat of the week reveal
- Title
- Take a ride inside Ehang’s fully autonomous, two-seater air taxi
- Runtime
- 5:32
- Date posted
- 2 years ago
- Description
- About an hour’s drive from the company’s headquarters in Guangzhou, China, sits a test site for Ehang’s autonomous aerial vehicles.
Perched on the tarmac during CNBC’s visit was the company’s fully autonomous, two-seater air taxi.
“This is our EH216 model, and it is positioned for short-distance transportation or sightseeing in the city,” said Dong Wang, Ehang’s vice president of technical research and development. His interview with “CNBC Tech: The Edge” has been translated into English from Mandarin.
In October 2023, Ehang announced the EH216-S AAV had secured a “type certificate” from the Civil Aviation Administration of China, the country’s equivalent to the Federal Aviation Administration in the United States — a certification Wang said is a world first.
“The operation is fully automated. Its scheduling system runs on the server, so its route is automatically loaded, and then it carries out a complet...
- Title
- UAE hit with biggest storm on record
- Runtime
- 0:42
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- Can Lilium’s plan to revolutionize air travel actually work?
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- Lilium has been working on its eVTOL jet - a flying vehicle that takes off and lands vertically - since 2015. But the company isn't just planning on revolutionizing how we travel, but also the whole air travel industry by making their vehicles "absolutely zero emissions". But how does the company plan to do this and can it work?
#CNBC #Shorts #Lilium
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- Title
- Will Israel retaliate to Iran's attack?
- Runtime
- 1:01
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- What does bitcoin's upcoming halving mean for prices?
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- Bitcoin's upcoming halving and its current bull run may not be a coincidence - the price of the cryptocurrency has often risen around the time of the event, and has even gone on to all-time highs afterward.
Fresh off the back of his time at Paris Blockchain Week and an interview with Binance's new CEO Richard Teng, CNBC's Arjun Kharpal discusses what the bitcoin halving is and why it's different this time around in the latest episode of 'CNBC Tech: Beyond the Valley.'
🎧 CNBC Tech: Beyond the Valley | Listen wherever you get your podcasts
#CNBC #Shorts #Bitcoin
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- Title
- Bitcoin halving - here’s what it is and what it means for crypto
- Runtime
- 25:57
- Date posted
- 2 years ago
- Description
- The bitcoin halving happens every four years. It’s a technical event that often precedes bitcoin moving to all-time highs. But this time things are a little different.
0:00 - Sponsor
0:30 - Welcome
1:50 - Stat of the week
2:01 - Bitcoin halving
4:20 - Why it's important
7:00 - Why this cycle is different
8:12 - Binance CEO interview
9:43 - Price predictions
11:41 - Binance's story
14:27 - Crypto regulation
16:00 - An ethereum ETF?
19:55 - Learnings from Paris
21:20 - Stat of the week reveal
23:00 - Film recommendations?
23:39 - Listener email
- Title
- Inside Lilium, the German company trying to revolutionize air travel
- Runtime
- 6:12
- Date posted
- 2 years ago
- Description
- German aerospace company Lilium wants to revolutionize air travel with its electric vertical take-off and landing (eVTOL) jet.
“Revolutionize means make it absolutely zero emission,” Lilium CEO Klaus Roewe told CNBC Tech in an interview.
“We want to make a regional plane that has a decent transport capacity to have a meaningful effect on CO2 emission reduction.”
Less than a decade after being founded by four university students, the group is now one of Europe’s leading eVTOL companies. It made headlines in September 2022, when Lilium’s prototype performed a full transition from hover to wing-borne flight at a test facility in Spain. Lilium is targeting entry into service by 2026.
“There was a lot of efficiency gain made by the structure, by the systems, notably by the engines. However, you can see it’s now coming to a kind of plateau,” Roewe said.
“Getting another 20%-30% out, in terms of CO2 redu...
- Title
- Can China's Comac break up the Airbus-Boeing duopoly?
- Runtime
- 11:19
- Date posted
- 2 years ago
- Description
- China is on a mission to break up the Airbus-Boeing duopoly and it hopes the domestically made Comac C919 will be its first big break into foreign markets.
Made by the Commercial Aircraft Corporation of China (Comac), the passenger aircraft has been touted as the “dream of a nation” by Chinese President Xi Jinping.
If successful, the C919 would offer airlines an alternative to the Airbus A320 and Boeing 737 families.
However, there are still several hurdles Comac would need to clear before it could take on the French and American aerospace giants’ dominance.
Today, the bulk of the C919 orders, which can be outfitted with up to 192 seats, are from domestic carriers and Chinese companies that lease aircraft to airlines.
GallopAir, a new Brunei-based airline, is the first carrier outside of China to order the C919. They have ordered 15 C919s and 15 ARJ21s, Comac’s small jet aircraft.
The airline wi...
- Title
- Would you drive this flying car?
- Runtime
- 0:47
- Date posted
- 2 years ago
- Description
- Take a look at a model of Alef Aeronautics’ ‘flying car’ that you can both drive and fly.
The company plans to start production of the first one by the end of 2025.
Watch the video for the rest of CNBC Tech: The Edge’s interview with Alef Aeronautics’ Jim Dukhovny and Director of R&D Oleg Petrov.
#CNBC #FlyingCar #Alef #Shorts
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- Title
- How Alef is trying to build a car you can both fly and drive
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- Take a look at a model of Alef Aeronautics’ ‘flying car’ that you can both drive and fly.
The company plans to start production of the first one by the end of 2025.
Watch the video for the rest of CNBC Tech: The Edge’s interview with Alef Aeronautics’ Jim Dukhovny and Director of R&D Oleg Petrov.
#CNBC #FlyingCar #Alef #Shorts
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- Title
- Around the world in a hydrogen-powered airplane
- Runtime
- 0:54
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- India could benefit from China’s tech troubles
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- When a swordfish attacks an underwater vehicle
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- Swordfish vs. submersible. 🐟⚔️🚢 A crew member on the research vessel OceanXplorer tells CNBC about the time a swordfish attacked their underwater vehicle. #CNBC
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- Title
- Inside Alef, the company trying to build a car you can both drive and fly
- Runtime
- 6:19
- Date posted
- 2 years ago
- Description
- Alef Aeronautics is in the early stages of developing a vehicle it hopes will both drive on roads and fly above them.
It is a rare exception in the competitive field of electric vertical take-off and landing (eVTOL) aircraft, which, despite often being dubbed as “flying cars,” aren’t meant for operating on the ground.
“eVTOLs are pretty much electric helicopters. We’re trying to build a car which can vertically take off and fly efficiently,” Jim Dukhovny, Alef Aeronautics’ co-founder and CEO, told CNBC Tech: The Edge in an interview.
In 2015, the team behind Alef met for the first time in a coffee shop, where Dukhovny scribbled the idea for his flying car down on a napkin. Eight years later, they are still building.
“If everything goes right, if we have enough funds, if the legislation does not get worse ... we plan to start production of the first one by the end of 2025.”
Unlike its eVTOL competitors, ...
- Title
- Flying cars — or eVTOLs — are taking off. Would you ride in one?
- Runtime
- 33:43
- Date posted
- 2 years ago
- Description
- Electric flying passenger vehicles, also known by the acronym eVTOLs, are beginning to take flight. Dozens of companies across the world are hoping these aircraft will be a large part of the future of transport. But there are big hurdles to overcome, including convincing us that they're safe to ride. Are eVTOLs ready to take off? CNBC's Tom Chitty and Arjun Kharpal discuss.
0:00 - Sponsor
0:30 - Welcome
1:40 - Arjun's flight from hell
4:37 - Stat of the week
4:50 - What are eVTOLs?
8:45 - eVTOLs vs helicopters
10:57 - Who's investing?
13:18 - Costs and infrastructure
16:22 - eVTOL regulation
19:03 - What are the benefits?
20:42 - Who will drive them?
22:38 - How safe will they be?
24:52 - Will people use eVTOLs?
28:11 - Are eVTOLs a bubble?
30:54 - The history of flying cars
31:40 - Stat of the week reveal
- Title
- How India is challenging China as Asia's tech powerhouse
- Runtime
- 30:55
- Date posted
- 2 years ago
- Description
- India has been on a mission to transform itself into a high-tech manufacturing hub for products from smartphones to semiconductors. New Delhi has managed to woo some of the world's biggest tech companies, such as Apple and Micron, to ramp up operations in the country as these firms look to diversify away from China. But can India take China's crown as Asia's most critical tech hub?
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
0:00 - Sponsor
0:30 - Welcome
3:13 - Stat of the week
3:51 - India's push into tech
5:54 - India vs China
10:18 - Why is India so attractive?
14:57 - The impact on China's economy
16:20 - A warning for India
19:52 - Can India compete in semiconductors?
23:50 - Will India become Asia's tech hub?
28:07 - Stat of the week reveal
- Title
- Could eVTOLs replace helicopters?
- Runtime
- 0:59
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- Splinternet: What happens if the internet we know breaks up?
- Runtime
- 30:13
- Date posted
- 2 years ago
- Description
- The once open and global internet could be beginning to fracture, due to varying forces such as geopolitics and regulations. It's an idea known as the “splinternet” - and the implications could be huge. CNBC's Arjun Kharpal and Tom Chitty discuss what this means for technology and our world in this episode of Beyond the Valley.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
0:00 - Sponsor
0:30 - Welcome
2:01 - Stat of the week
2:41 - What is a splinternet?
3:56 - What causes a splinternet?
5:38 - The impact of a splinternet
8:38 - Politics and the splinternet
11:45 - EU vs USA
14:52 - Data Sovereignty
16:01 - Huawei
19:31 - Operating systems and VPNs
24:14 - Subsea cables
26:55 - Stat of the week reveal
- Title
- How flying cars have evolved into eVTOLs
- Runtime
- 0:41
- Date posted
- 2 years ago
- Description
- #CNBC
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- Title
- This city is home to most of Asia's billionaires
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- China has the most billionaires in the world. However, the city with the most billionaires in Asia isn’t in China.
Watch to find out which city is Asia’s latest billionaire capital. #CNBC
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- Title
- Can Alibaba make a comeback?
- Runtime
- 29:04
- Date posted
- 2 years ago
- Description
- Chinese e-commerce giant Alibaba was once one of the most valuable companies in the world. China's tough regulation, a weakening economy and internal problems have contributed to the company's value plunging. But can recent changes made by the firm help change its fortunes?
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
0:00 - Sponsor
0:30 - Welcome
2:47 - Stat of the week
3:29 - How Alibaba's reputation slipped
7:25 - Why Alibaba is in decline
11:49 - What happened to Jack Ma?
13:53 - What is Alibaba doing to try to recover?
16:49 - Why was the cloud computing IPO scrapped?
19:01 - is AI the future for Alibaba?
21:22 - Bitcoin prices
25:25 - India courts chip firms
27:13 - Stat of the week reveal
- Title
- Can AI revive the smartphone?
- Runtime
- 38:08
- Date posted
- 2 years ago
- Description
- CNBC's Arjun Kharpal is in Barcelona at Mobile World Congress where smartphone makers such as Samsung are talking up AI phones. But will it revitalize a stagnant smartphone industry?
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
0:00 - Sponsor
0:30 - Welcome
3:10 - What is Mobile World Congress?
6:30 - Stat of the week
9:00 - What is an AI phone?
11:30 - AI chips
12:15 - A message from Cristiano Amon, Qualcomm CEO
13:45 - What smartphone makers are saying about AI
15:50 - Huawei's smartphone spinoff Honor
18:45 - Briefing with Huawei's consumer team
20:00 - 5g or 5.5g
21:35 - Key takeaway on AI from MWC
23:50 - Top three tech from MWC
30:10 - Samsung's Head of Health on Samsung's smart ring
32:40 - Exclusive from Honor's CEO: Working on smart ring
34:05 - What else is happening in the...
- Title
- What lies ahead in TikTok's uncertain future
- Runtime
- 31:36
- Date posted
- 2 years ago
- Description
- The U.S. has moved one step closer to forcing Chinese tech firm ByteDance to sell TikTok in America. It is the latest flash point in the U.S-China tech battle. But does the move ultimately amount to a TikTok ban? Join CNBC's Tom Chitty and Arjun Kharpal for an in-depth look at the latest tech news in this episode of 'CNBC Tech: Beyond the Valley.'
0:00 - Sponsor
0:30 - Welcome
2:44 - Stat of the week
3:38 - What the TikTok bill means
6:44 - What motivated the bill
11:06 - The data issue
12:36 - Implications of the bill
14:55 - What Bytedance can do
17:03 - China's response
20:36 - Why selling isn't straightforward
23:36 - Who would want to buy TikTok?
25:48 - EU opens investigation into AliExpress
30:00 - Stat of the week reveal
- Title
- What is an eVTOL?
- Runtime
- 6:00
- Date posted
- 2 years ago
- Description
- Inventors have been fixated on the idea of ‘flying cars’ for nearly as long as they have been on the road, with prototypes dating as far back as the 1940s.
Innovators and investors today, however, prefer the acronym eVTOL, which stands for Electric Vertical Take-Off and Landing.
As the name suggests, eVTOLS are powered by electricity, not fuel. They take off and land vertically, like what you’re used to seeing with a helicopter, but many also fly like a traditional aircraft.
More than 400 companies and innovators have registered designs on the World eVTOL Aircraft Directory. Together, they have attracted billions of dollars in funding over the last decade.
For some, those investments could really pay off. One Markets and Markets forecast estimated that the eVTOL market will grow from $1.2 billion dollars in 2023 to $23.4 billion in 2030. That’s an annual average growth rate of 52 percent.
So, are we in the golden ...
- Title
- Banks are being targeted in anti-Israel boycotts
- Runtime
- 0:53
- Date posted
- 2 years ago
- Description
- Boycotts in support of Palestine have hurt the earnings of McDonald’s and Starbucks in the last quarter of 2023. Now, some banks are also being targeted for boycotts due to their perceived ties with Israel. #CNBC
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- Title
- What does the term 'splinternet' mean?
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- Part of the difficulty of discussing the implications of a 'splinternet' is trying to define exactly what the term means.
The term has been around since the early 2000s and has been broadly used to describe a world in which the global interconnected communications system that is the internet as we know it becomes siloed in some way leading to different versions of the internet around the world depending on where you go.
Some countries, notably China, already operate in this way. But what does a splinternet mean for consumers? CNBC's Tom Chitty and Arjun Kharpal discuss this and more in the latest episode of CNBC Tech Beyond the Valley.
🎧 CNBC’s Beyond the Valley | Listen wherever you get your podcasts
#CNBC #Technology #Splinternet
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<...
- Title
- Passport-free travel is here in Singapore
- Runtime
- 0:50
- Date posted
- 2 years ago
- Description
- People travelling via car between Singapore and Malaysia wouldn’t have to worry about forgetting their passports now, as they can use self-generated QR codes instead. The passport-free procedure could reduce immigration processing times and ease congestion at one of the world’s busiest borders. #CNBC
-----
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- Title
- Do we already have a 'splinternet'?
- Runtime
- 0:47
- Date posted
- 2 years ago
- Description
- China is notorious for having its own separate, walled internet but it's not the only country to do so. Iran has created the infrastructure to have a national intranet and Russia too is seemingly close to having one also.
But is this a cause for concern? CNBC's Arjun Kharpal and Tom Chitty discuss this and more on the latest episode of Beyond the Valley.
🎧 CNBC’s Beyond the Valley | Listen wherever you get your podcasts
#CNBC #BeyondTheValley #Splinternet
-----
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- Title
- Why this country is the happiest one in Asia
- Runtime
- 0:52
- Date posted
- 2 years ago
- Description
- Singapore is the happiest country in Asia for the second year in a row, according to the World Happiness Report. It’s because of the island-state’s low level of corruption, high GDP and healthy life expectancy. #CNBC
-----
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- Title
- The cruel reality behind civet coffee in Indonesia
- Runtime
- 0:47
- Date posted
- 2 years ago
- Description
- Stay away from civet coffee, PETA warned, after undercover investigators obtained footage showing civets being caged and farmed for their feces. Tour guides in Bali often tell tourists the coffee is made using the feces of wild civets, but most of it actually comes from civet farms, where the animals are held in cruel conditions. #CNBC
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- Title
- Inside the world's largest gold market
- Runtime
- 0:52
- Date posted
- 2 years ago
- Description
- Gold prices might be hitting record highs, but that doesn’t stop buyers from shopping for a bargain in Dubai at the world largest gold market.
#CNBC #Shorts #Gold
-----
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- Title
- How will the Japanese Yen affect tourism?
- Runtime
- 0:54
- Date posted
- 2 years ago
- Description
- Could that trip to Japan cost you more? CNBC's travel expert Monica Pitrelli explains how the Bank of Japan's recent interest rate hike could affect tourists visiting the country.
#CNBC #Shorts #Japan
-----
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- Title
- Taxing the super-rich: Could a 'billionaire tax' work?
- Runtime
- 8:02
- Date posted
- 2 years ago
- Description
- The so-called wealth tax is a politically divisive economic policy, but one that is regaining attention amid rising inequality and shifting demographics.
U.S. President Joe Biden in his 2024 State of the Union address took aim at the uber affluent, saying he would impose a targeted “billionaire tax” on America’s wealthiest.
It follows an earlier G20 meeting, in which finance leaders explored plans for a global minimum tax on the world’s 3,000 billionaires.
Colombia, Scotland and the U.S. have all proposed wealth taxes in recent years, joining the likes of Switzerland, Norway and Spain in imposing taxes specifically on the super-rich.
And even some of the world’s wealthy are backing such calls. “This is about the wealthy contributing more to the society,” Phil White, retired entrepreneur and member of the Patriotic Millionaires group, told CNBC.
But can such a policy work in reality, and is it likely to take ...
- Title
- Is this the future of EV charging?
- Runtime
- 1:00
- Date posted
- 2 years ago
- Description
- Tired of waiting around for your electric vehicle to charge? Taiwanese e-scooter company Gogoro claims its swap and go batteries are the answer to this problem. But is using the tech as easy as it sounds? CNBC Managing Asia anchor Christine Tan gave it a go, and at 10 kilograms each, she found that it's actually quite a workout.
#CNBC #Gogoro #escooter
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- Title
- Social media firms deny “shadow banning”
- Runtime
- 0:56
- Date posted
- 2 years ago
- Description
- #CNBC
-----
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- Title
- How much can Singapore earn from its exclusive Swift deal?
- Runtime
- 0:56
- Date posted
- 2 years ago
- Description
- Taylor Swift is in Singapore this week for her Eras Tour concerts – her only stop in the region as part of an exclusive deal with the city-state. This is how much Singapore could earn in tourism dollars. #CNBC
-----
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- Title
- China's property boom in less than 60 seconds
- Runtime
- 0:50
- Date posted
- 2 years ago
- Description
- China’s top real estate developers, Evergrande and Country Garden, have defaulted on their debts, but the issues in China’s property market run much deeper.
#CNBC #China #Property
-----
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- Title
- What does security look like at China’s ‘Two Sessions?’
- Runtime
- 0:43
- Date posted
- 2 years ago
- Description
- #CNBC
-----
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- Title
- POV: Covid test before China’s ‘Two Sessions’ meeting
- Runtime
- 0:28
- Date posted
- 2 years ago
- Description
- We are now in Beijing to cover China’s annual ‘Two Sessions’ meeting, which investors are watching closely for signals on economic stimulus. Follow us for the latest coverage out of Beijing. #CNBC
-----
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- Title
- Planning to apply for Japan's digital nomad visa?
- Runtime
- 0:28
- Date posted
- 2 years ago
- Description
- Have you read or heard that Japan has launched a digital nomad visa? Well, CNBC has confirmed that the scheme hasn’t been launched. Our editor for CNBC Travel, Monica Pitrelli, has the details. #CNBC
-----
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- Title
- Inside the Eastern & Oriental Express luxury train
- Runtime
- 0:53
- Date posted
- 2 years ago
- Description
- The Eastern and Oriental Express is back and will take passengers on three-night journeys through Malaysia. Tickets for these trips start from $3,410 per person. #CNBC
-----
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- Title
- How China's property bubble burst
- Runtime
- 8:46
- Date posted
- 2 years ago
- Description
- Desperate property developers in China have resorted to gifts like new cars, free parking spaces, phones and other consumer goods to attract homebuyers and boost flagging sales.
These incentives are just the tip of the iceberg in a crisis involving hundreds of billions of dollars in home builder debt, trillions in local government debt and at least a billion empty apartments.
But it wasn't always the case. Since China's economic liberalization in the 1970s and housing reforms in the late 1980s, locals have flocked to properties as the investment vehicle of choice over alternatives such as the stock market.
The property and construction boom helped fuel China's – and the world's – economic growth for 30 years. By some estimates, property in China was worth $60 trillion at its peak, making it the biggest asset class in the world.
Developers like Evergrande and Country Garden got extremely rich in the process.
As propert...
