The unravelling of its real estate sector after decades of debt fueled growth may have major knock-on effects One of the most worrying economic stories in the world right now is unfolding in China’s real estate sector. To put it in perspective, real estate drives nearly one-third of China’s economic activity, and housing accounts for about 70% of household wealth. Nearly 30% of all bank loans are property-related. The ripple effects are impacting the entire Chinese economy—it grew only 0.4% in the last quarter compared to the previous year—and may turn contagious around the world. Here are some numbers. Some...