I think both are failures of planning over markets. China propped up giant companies that built whole cities speculatively, but in the US it’s a that they have comparatively strong municipalities that prevent new building in their neighborhoods. I think the solution there is to weaken the strength of these zoning laws. We have been kinda running an experiment across states and cities and can see the housing crisis is worse in places with stricter zoning laws. https://crsreports.congress.gov/product/pdf/IN/IN12195