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In the news today: “China’s economic growth under threat as virus takes hold”
I have been following for about a year how China has been bailing out banks and covering up for a huge housing bubble. Evergrande is China’s equivalent to Lehman Brothers or AIG. They built entire cities that were vacant.
Well, even communists and hard-core oppression cannot defeat forces of nature like weather and economics. It looks like China has an economic collapse on their hands. They tried to prevent it, but they just made it worse. Reality always defeats crooked accountants hiding losses.
This would explain why the Chinese are doing the bizarre stuff in Shanghai. The Chinese communist party fears that it is losing control because of the economic collapse. If the economy were booming, the CCP would not be so paranoid and carrying out oppressive intimidating acts like locking down millions of people in Shanghai.
When the American economy goes south soon, we are going to have a global catastrophe due to decades of central banks around the world creating fake money. The biggest hangover is about to hit. China is one of the cards falling in the global house of cards.