One must remember that back in 2015, China established capital controls on the yuan. That + the pandemic (a massive, epic increase in money supply and cheap cr

One must remember that back in 2015, China established capital controls on the yuan. That + the pandemic (a massive, epic increase in money supply and cheap credit) helped China keep that going. AFAIK China's housing bubble began in 2008, after the housing bubbles of the West stopped giving China the growth it needed so much. So yeah, they kept the bubble going for long (and they're still trying to "soft-land" the economy, but I don't believe there's a soft-landing possible that doesn't lead to a Japan situation).