3. The cyclical theory depends on a dearth of new investment creating a supply crunch in two, three or five years. A lot of projects are being postponed but postponement is no more than a signal to project managers to find a way of cutting costs. Many are doing exactly that.
4. It’s ironic that in a country as populous as China, a meme about loneliness would be so popular. This seemingly irrational line has been repeated in every possible permutation, on every possible occasion, e.g. “What big brother is reading not a book, but loneliness.”