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Thought the U.S. Office Market Was Bad? Try China

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China is facing a more basic real-estate problem than the U.S.’s shift toward hybrid work: Developers simply built too much supply, and now the economy is too weak to absorb it.

World’s No. 2 economy has a huge oversupply of unneeded office space, in latest sign of country’s weak growth Nearly 24% of office-tower space in 18 major Chinese cities, including Beijing, was unoccupied as of June.

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