The advances of generative-AI platforms, such as ChatGPT, have left just about every investor discussing what to make of the incipient industry, and which firms it might upturn.
A cyclical upturn in the economy may lift spirits. Some think that the Euro 2024 foot ball tournament, which kicks off in Germany in mid-June, will boost national morale.
A second target should be ensuring capital flows to start-ups with new ideas: lending to British firms has been shrinking since 2009 and is still being cut despite the upturn.
Researchers speculate that this is due to a higher smoking rate during economic upturns and a faster pace of life, causing more stress and less sleep than during a downturn.
But three years later, with a ton more evidence coming in from around the world, Jose and his co-authors just released a working paper reviewing the evidence that upturns that conclusion.
In theory, therefore, China's property market has room for a cyclical upturn even in the midst of a longer-term decline, meaning policymakers can try to revive sales without stoking speculative demand.
If on the other hand, they just say something like the business is now well-positioned to benefit when there is a global upturn in the economy, you know that the immediate future is not very exciting.