China is one massive bubble with 70% of its people's assets locked tight hard in overvalued real estate built with poor quality materials and that is now crumbling apart.

The problem is, China already has an oversupply of living units, so even if the owners want to sell, there will be no one to buy. Foreigners all around the world know of the situation and won't buy any asset in China, even with the recently relaxed rules for Foreigners to buy flats in China there has been no take off, because people know.

My garden is 10 years old, it is the most high end luxurious residence in Foshan and the cladding outside is already crumbling apart, there is always an elevator in maintenance mode, ... Other residences and construction sites around are not selling/building anymore since the real estate began to stall, they just sit here done but empty (no lights at night) or half way built and exposed to the elements that might ultimately take care of it. From what I have seen, the situation is roughly the same nationwide.

The 1% super rich Chinese are buying assets overseas in the West, millions in the middle class lost their life savings in the SH market a couple of months ago. Factories are running in overcapacity to keep the nongs employed and preserve social harmony, domestic consumption doesn't take of and represents a fraction of the GDP, local debts are skyrocketing. Don't be fooled by the CCP claiming its grandeur and flexing its muscles, it's typical from failing regimes to organize big military parades and brag about their success. China is one massive bubble waiting to pop, and it's going to be ugly.