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Death of a Star
China’s economy is confronting a serious trouble or rather a series of troubles. Not surprisingly, because it was doomed to be. China is drowning under an ‘excess problem’ which has many aspects: • huge amount of excess manufacturing/production capacity, • an excess of construction supply revealing itself as millions of unfinished and abandoned real estate projects and abundant number of empty/half-empty office buildings, and • excessive indebtedness. This excess situation, paired with weak domestic demand and lower margins (Chart...