[sien]

One of the biggest things though is housing.

The US, Australia and probably most developed countries have declining productivity in construction.

(1985) https://www.nber.org/system/files/working_papers/w1555/w1555...

(2025) https://www.nber.org/digest/202502/stagnation-us-constructio...

That shouldn't be tied to China. Indeed arguably China might help with cheaper materials potentially.