You know where kids today don’t hang out? The mall. Well, unless they live in China. In the U.S., the mall is on the decline: There have been no new enclosed malls built since 2006, and there’s even a website — DeadMalls.com — devoted to shuttered malls. By some estimates, 15% of the malls that are still open will be closed or converted into non-retail space in the next decade. But in China, developers can scarcely build malls fast enough. Indeed, as of last year, roughly half of the 344 million square feet of shopping centers being built around the globe were in China, according to one estimate.