The china situation

 There are many bombs in China waiting to explode. The real estate collapse is happening in slow motion. To fix the situation the government can either bail everybody out, at a great cost to the state, while encouraging bad investment habits, or let at least somebody default. If the builders default, thousand of constructions become barren, millions of people lose their life savings on lost down payment. And future construction is disincetivised. They can subsidize the buyers, but the real-estate investors, which is half the middle class of the country suffers that way because the government explicitly told them it was a really good idea and they really should do it.

Then there's the population bomb. They're already getting quite old, and the population's only going to decrease.

Speaking of which, the decrease in marriage rates and fertility rates, plus the whole 'urbanize so quickly your social mores have zero time to adapt and therefore there's a massive mismatch of expectation and reality' will cause millions of unmarried men and women who hate each other who would rather all stay single than do anything with one another. I wouldn't say fertility would go below Korea levels...yet, but it wouldn't be a surprise if they did.

Add to all of this the fact that low-cost manufacturing is done as production costs have risen. Barely a few short decades after industrializing the country is already in the process of de-industrialization. They don't have a large enough tax base, a large enough middle class to sustain their current projections.

And on and on and on.

Wouldn't want to be a Chinese leader right about now.