My worry is chinas instability economically leads to political instability leads to wars to distract and focus away from the man behind the curtain.

That + the pandemic (a massive, epic increase in money supply and cheap credit) helped China keep that going.

AFAIK China's housing bubble began in 2008, after the housing bubbles of the West stopped giving China the growth it needed so much. So yeah, they kept the bubble going for long (and they're still trying to "soft-land" the economy, but I don't believe there's a soft-landing possible that doesn't lead to a Japan situation).

If it is a bubble for 15 years, it is not a bubble. Unless COVID was an attempt to deflate that bubble.

https://landgeist.com/2021/11/04/housing-vacancy-rate-in-chi...

What would majority of NYC residents who rent think of that market?

When there was economy destroying debt used to create it and people aren't buying.

The problem is debt and you are only looking at the comment you replied to, not what the thread is talking about.

Second, they are being financed in a Ponzi scheme with rents that are so high no one can rent them. They aren’t really built to be lived in. They’re being built to be built to drive debt investments.

Third, if you produced way too much food, it rots. If you produce too much electricity, it is wasted into the ground. Water into the ocean. That’s pointless and a waste.

China's REPORTED GDP 'growth' for 2022 was +2.9%. In a year where Chinese LNG demand was down 22%, their real estate market (which represents 33% of Chinese GDP) was in the midst of a collapse, literally welding Chinese citizens into their apartment buildings, and the WeChat payments flowing through their system were down over 20% yoy. In 2023, YOUTH UNEMPLOYMENT is somewhere between 20% and 50%, 48 local governments are in some stage of default on their debt (LGFV debt is approximately $10trillion or just under 60% of GDP), the majority of Chinese property developers are in default of their dollar bonds (71% are in default of over $180 billion in bonds), Xi has ordered all corporate and macro level dat to be severed to the West, and the Chinese government is reporting +5.5% GDP 'GROWTH'?! Reputable economists don't believe these numbers from the CPC