China's Real Estate Bubble Burst Will Affect Everyone Worldwide
Paul Hodges, chairman of New Normal Consulting, asserts that many are still blissfully unaware of just how big China’s real estate bubble is. The burst of that bubble, which may be underway, is risking a “Minsky moment,” much like what Americans saw in 2008. Looking back at the U.S. subprime of 2008, Hodges predicts that a domino effect of primary, secondary, and tertiary problems will reverberate globally. He also explores how the explosive run-up in energy prices highlights the need for energy resilience, which he believes will accelerate the transition to renewables, and he explains what needs to happen to achieve Net Zero. Interviewed by Maggie Lake, who will be taking live questions from Real Vision Plus members..