By Harry Dent via Iris.xyz
China’s been playing hardball with the U.S. over trade talks.
There’s good reason: they’re gunning for the title of Top Global Economic Power, above the U.S. and other players.
They’re embracing the short-term pain to win the long-term fight.
They have growing problems, with slowing growth and exports, and we’ve heard much about this lately from Main Street. But those are only symptoms.
Deep down, they have a demographic problem, an overinvestment-in-infrastructure problem, and a real estate problem. Today, let’s talk about that last one.
I recently talked about Japan’s housing crisis. There, 8 million homes stand empty (that’s 15% of their market)!
Well, compared to China, Japan’s real estate problem is a minor crack in the foundation.
In China, 65 million homes stand empty!
That’s 22% of all urban homes there.
And it’s the worst in tiers 2 and 3. Check it out…
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