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Oversupply in Chinese real estate sector can never be filled, Chinese official admits.
Chinese real estate giant Evergrande’s bankruptcy filing signals wider economic issues. US aiming to reduce reliance on China. Antonio Graceffo, Epoch Times writer and ‘Beyond the Belt and Road: China’s Global Economic Expansion’ author, discusses implications.
The Chinese regime feeds the housing bubble because the real estate industry has become the lifeline of the economy.
What an astronomical figure! 42 trillion yuan, that’s 42 thousand billion yuan, or 6,9 trillion US dollars. These giant mounds of money have been wasted over the past 5 years in China—in airports, industrial zones, and highways that no one needs.
