20 years of building empty cities using debt, then selling the cities to investors who also purchase them using debt, on a scale that hard for Americans to quantify, is finally blowing up.
Construction/real estate is 15% of China GDP. And it’s all just vapor.
China is in the process of reversing the last 20 years of progress they made developing a middle class. They may have more people than the entire population of the US losing all of their investment and retirement money. Right now. This month.
20 years of building empty cities using debt, then selling the cities to investors who also purchase them using debt, on a scale that hard for Americans to quantify, is finally blowing up.
Construction/real estate is 15% of China GDP. And it’s all just vapor.
China is in the process of reversing the last 20 years of progress they made developing a middle class. They may have more people than the entire population of the US losing all of their investment and retirement money. Right now. This month.
This shit is fucking crazy.