概要如下：
Property-related risks are under the spotlight
Property prices are under pressure in Greater China, prompting concerns
about systemic tail risks in Asia given property’s inherent linkages to the
banking sector and the overall economy, and its role in previous crises
globally. Using the Asian Financial Crisis as a case study, we assess three
intertwined risks—property price risk, banking systemic risk, and macro
credit risk—to provide perspective to market participants, and to probe our
constructive strategic macro and equity view in Asia.