Although China's debt-financed real estate mania has contributed to its glowing GDP figures, created booms for many industries, and employed tens of millions of people, this unsustainable feast is coming to an end. Across China, there are countless ghost high-rise buildings. There is no need to build another one in the next decades. They have smashed any hope and future career of the next generation of the Chinese people.
Stagnation is the new normal for China in the future.
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