What you’re saying just isn’t true though. China isn’t overbuilding by any meaningful metric. Their urbanization rate is really low compared to developed nations like the US. They have a huge population so their total rate of construction while urbanizing is unique. However the actual process of urbanization isn’t unique at all.
If you look at historical data the US followed a very similar trend with rapid urbanization ramping up until around the 1960s. That rapid development included a mix of shoddy and quality construction. Additional urbanization was more difficult to achieve and growth slowed. That’s basically what you’re seeing in China now too.