The same day we have an article about a Chinese property company going bust who overdeveloped. All that sand is just sitting there in those buildings now.
There's a nation-wide real estate investment ponzi going on in China.
Literally building uninhabitable towers for the sole purpose of being a counterfeit "deliverable" of "real estate" as an "investment".
It's a financial markets regulatory problem, not a "we accidentally built too much useful real estate" problem.