China’s Economy
Social unrest has erupted in China after almost $6 billion worth of deposits froze up. Thousands of police were deployed to shut down the protest. Following the protest, hundreds of thousands of Chinese homebuyers refused to pay up to $300 billion worth of mortgages. Mortgage payments have reportedly stopped on 301 projects in 91 cities. China is experiencing a repeat of the 2008 recession but on a whole new level. An entire social revolt is growing as the CCP desperately censor the growing uneasiness. Internal government meetings have revealed substantial stress within the CCP and the signs are showing that it’s only going to get worse. China’s social unrest has revealed a multitude of flaws within the country, and the implications will ultimately affect the rest of the world.
Credit
Casgains Academy