China has been building “ghost cities” in an effort to create the illusion of wealth. I wonder if they’ll end up moving poor peasants without electricity into those gleaming cities to prevent riots.
They’d have done better to build sewer and clean water infrastructure through the countryside than building millions of apartments for 200-300K US.
while there are pressures on western economies to deflate there are corresponding pressures on china (and other emerging economies) to inflate. We are seeing that today. I think you are correct to believe china may face problems adjusting to the new realities.