What Schenzen taught me about interest rates – The Property Chronicle
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What Schenzen taught me about interest rates

Investor's Notebook

Even for the most absentminded amongst us (myself included), life offers unforgettable moments. Some are historically and globally impactful: Neil Armstrong’s ‘giant leap’, the collapse of Lehman Brothers, or the COVID-19 pandemic we currently find ourselves in. Others are deeply personal: a first day at University, saying goodbye to a loved one or the birth of a child. For me, one such moment was a visit to Shenzhen in the early 2000s. Colloquially known as the ‘worlds factory’, this former fishing village has rapidly evolved in forty-years to become the manufacturing heartland of a global economic superpower. Whilst Shenzhen and more broadly China has become the hallmark of modern industrialization, their growth provides important clues into the secular decline of real interest rates globally. 






Investor's Notebook

About Matthew Leonard

Matthew Leonard

Matthew Leonard is an Investment Associate in the Hines UK acquisitions team. He graduated from the University of St Andrews with a MA First Class Honors in international relations and received a MPhil in real estate finance from Christ’s College at the University of Cambridge.

Articles by Matthew Leonard

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