Commodification and housing market cycles in Chinese cities

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The Great Moderation, the Great Excess and the global housing crisis (2015, background): “Even countries that continued to see economic growth and rising house prices, such as China, were hit by the global financial crisis (Wu, 2015).”
Land financialisation and the financing of urban development in China (2019, background): “Some specific conduits have been formed under state entrepreneurialism (Wu, 2015b; Wu, 2018), such as local government financial vehicles as state-owned enterprises engaged mostly in land and infrastructure development.”