SIHANOUKVILLE, CAMBODIA - JULY 01: A couple sits by the seafront as unfinished buildings are seen in the background on July 1, 2024, in Sihanoukville, Cambodia. China's property sector is grappling with a prolonged crisis, marked by plummeting home sales, falling prices, and the financial distress of major developers like Evergrande and Country Garden. The downturn, now in its third year, has seen housing starts drop by over 60% compared to pre-pandemic levels, eroding consumer confidence and posing significant risks to China's broader economic stability. This crisis has rippled beyond China's borders, affecting projects in places like Sihanoukville, Cambodia, where Chinese property companies had invested heavily in casino and resort developments during the boom years. (Photo by Valeria Mongelli/Getty Images)