Restoring confidence and stabilising the property market are “significantly more important” for China than the ramifications of tariffs, a Nobel laureate in economics said while warning of financial risks to Chinese households. Michael Spence, who won the Nobel Prize in 2001, made the remarks at the Hongqiao International Economic Forum in Shanghai on Thursday, during a panel discussion on China’s pathway to revitalise consumption. While acknowledging that Beijing needs to “seriously” address...

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