A short time ago, many Wall Street pundits were convinced that China’s massive economy would finally take the throne from the United States. However, three factors have taken the U.S. and China’s economies in opposite directions: housing, debt, and a slow post-COVID economic recovery. China’s economic worries started with an overbuilt real-estate market that went from boom to bust. When the country’s real estate bubble finally collapsed, China’s top developer, Evergrande, collapsed under a mountain of debt. ...