Chinese economy grew 5.3% Q1 2014, page-43

What many on this thread dont realise that the US Government
threw $5 Trillion stimulus package(Borrowed money) at its economy to counter
Covid while China didn't and consequently China is now slowly
recovering economically from its comprehensive lock-downs.

Its rather ironic that the US, the bastion of market economics choose
to "Socialise" the negative economic impact of Covid while China
a purported Socialist country left coping economically with Covid to the market!

China now intends to run a 7% budget deficit for 2024 to take/maintain its GDP growth
5%+.

Re Housing:

In Aus our problem is undersupply of housing because we were compelled by the USA
to privatise our social housing in the 1980s as a US Treasury/Wall St condition of floating
our AUD. Ironically Comm & State Governments expect the private housing sector to
supply more new housing to reduce prices incl rental ...how silly is that?

While in China , The Chinese Government has "commanded" (its a command economy)
that excess housing it built (putting the horse before the cart) in order for it to complete
its urbanisation/taking rural people out of poverty Program.

No doubt there is a Goldilocks housing position but neither country has found it yet.