Where’s the money going to go? China? I lot of business and money may be moving away from China, including from the Chinese themselves (for better or worse).
Ding, ding, ding! It’s a classic investment bubble... the widely understood “only game in town” while the rest of the economy is shuttered or running way below capacity or any level of profitability. Before that it was the housing bubble, and before that the Dot.com bubble. Welcome to the casino!