The Chinese collapse will make the 2008 subprime crisis in the US look like good times.
The entire investment of the Chinese people has gone into real estate.
They have built around 3 billion empty units in high rise apartments that have never had a person living in them. All the savings, and investments have been predicated upon people moving into these units. The units stand empty.
And major employers have left. (Samsung for example)
Real estate is in a massive speculative bubble, built by
deception and fraud.
When that bubble breaks, as it is now starting, look out below!
Peter Zeihan is an American author on geopolitics. He previously worked for the geopolitical advising firm Stratfor. Zeihan is the author of several books, including The Absent Superpower, Disunited Nations, and The End of the World Is Just the Beginning.
The Chinese people are very limited in what investments they can make. Basically, keep it in their bank accounts for almost no interest, or put it in real estate.
Consequently, there is now a glut of empty housing in China, on the order of 1.5 to 3 billion homes.
Pricing is beginning to collapse, Especially with low birth rates, and a population that seems to be nowhere near the official 1.4 billion number.
h/t JustmeTX