It's from 2022. This is the newest article on the issue i can find, and talking about the same issue, so i think its an ongoing stuff to this day in case someone pointing out the date.

Basically late stage capitalism.

This is what bugs me about the modern Chinese Communist Party, these developers need a taste of what happened to landlords during the Land Reform Movement.

There’s at least one YT channel that keeps popping up in my recommendations that focuses on “Tofu dregs”. All infrastructure, not just residential buildings.

It's called "ponzi scheme".

Please, Xi

Thanks china!