*In China, the impact of real estate-related activities amounted to 29% of GDP in ‘16
Note that none of the 10 other major countries come close to this except Spain on eve of the financial crisis (28.7% in 2006) ~ even the US in 05 (peak) was just 18.9% of GDP
Very Deflationary pic.twitter.com/btM1qGvFzx
— Adem Tumerkan (@RadicalAdem) September 27, 2021
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