Comment by maxglute

> they are not constructing housing at a fast enough pace to meet their population’s needs

It's more accurate to say PRC/CCP understood it's _impossible_ to build enough housing in Tier1 cities where everyone wants to be, the supply/demand curve will never make sense outside of micro/small countries where everyone can fit in a handful of cities. Can't fit 1 billion people in Beijing/Shanghai/Guahzhou/Shenzhen etc, need 30/40/50 cities that are almost as enticing.

What PRC is constructing "fast enough" pace are entirely new cities / developing shitholes into T2/T3 alternatives to shift demand away from T1/T2s. IMO that's the real lesson west needs to learn but can't due to lack of hukou / internal migration controls - spreading out desirable urban areas because talent / productive centres tends to agglomerate ala zipf's law, which Chinese development patterns does not follow. IIRC 10-15 years ago, there were ongoing academic debate about PRC's urban density (or lack of due due to sunlight planning laws), and how PRC could be more competitive if it doubled density in T1 cities, but central gov said no, better build more desirable, low CoL cities (especially inland / poorer regions) where _most_ of population can distribute vs hammer T1 further into unsustainability.