> China's biggest problem is, imo, the continued slow motion train wreck of evergrande and its real estate market collapsing. It's at least an order of magnitu

> China's biggest problem is, imo, the continued slow motion train wreck of evergrande and its real estate market collapsing. It's at least an order of magnitude larger of a problem for China than ties to Russia are. For anyone unaware, nearly 2/3 of China's household wealth is tied up in real-estate assets (for the US it's < 30% of household assets in real-estate). That's a doubling over what it was a decade ago. China's socio-political stability is particularly bound to the condition of their real-estate market. A crash there would be devastating; if housing were to fall enough to revert back to that asset class being 1/3 of China's household asset base, maybe $30 trillion in national 'wealth' would have to vanish.