The slow-motion collapse of China’s real estate sector is no longer just about empty buildings. At its absolute peak, the combination of real estate and construction accounted for roughly 13% of China’s gross domestic product. Regulators introduced the “three red lines” policy to strictly limit how much money real estate companies could borrow. Fifty Industries ParalyzedWhen a real estate market crashes, the damage rarely stays confined to the housing sector. A Painful Road to RecoveryAccording to the Atlantic Council, Beijing wants to transition away from real estate toward high-tech manufacturing.