Insight - China’s choice: Covid-zero or Xi’s three red lines

To realise president Xi Jinping’s mantra that “housing is to be lived in, not speculated on,” officials in August 2020 drew the so-called “three red lines,” or accounting measures meant to rein in developers’ debt. It followed with another regulation a few months later capping bank lending to the industry.

YOU can’t have your cake and eat it too.

It’s an expression that warns people not to want things that are inherently incompatible. China would do well to heed this wisdom.