Natacha Aveline: « State Policy and Property Bubbles ― Japan and China Compared »
Conference that took place at the French Research Institute on Japan at the Maison franco-japonaise on June 15th 2018.
Speaker: Natacha Aveline (CNRS)
Moderator: Sophie BUHNIK (UMIFRE 19 – MFJ)
Organization: UMIFRE 19 – MFJ
Two decades after the bust of the « land bubble » in Japan, China is experiencing a large-scale property boom. This presentation will highlight the commonalities of the speculative mechanisms in the two countries, and give account of their divergent management by state authorities. During the period between the two property booms, China’s central state has learned lessons from the systemic crises caused by real estate crashes in both Japan and in the USA. This has encouraged a policy avoiding the financialization of real estate based on US norms, and providing « just-in-time » responses to markets signals in the housing sector.