During a recent school vacation in Shanghai, 11-year-old friends Logan Cui and Tylor Wang spent an afternoon on an iPad indulging in their favorite hobby, video games. They were so immersed in PUBG, a battle royal-style shooter, they could barely take their eyes off the screen. Related:China’s Evergrande crisis is a whole different story from the 2008 US housing collapse, analyst says All of our classmates play online games. And between classes, that’s all we talk about. All of our classmates play online games, Wang said as Cui took his turn. And between classes, that’s all we talk about. Screen...