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> Still no crash. There have been runs on 5 or 6 banks since 2020, and a bunch of property developers are in default. The CCP threatened to audit large compan
by redis_mlc 5y ago
> Still no crash.
There have been runs on 5 or 6 banks since 2020, and a bunch of property developers are in default.
The CCP threatened to audit large companies, and when they picked 16 to start with, at least one immediately admitted to being insolvent before the audit even started.
Had Trump's trade and capital restrictions continued, esp. on chips, there would have been a full-on crash. The US can do that any time it wants to, as they did with the USSR.
(BRI is financed from US capital markets. While the US was distracted with Middle East wats, China borrowed money from the US and expanded BRI to over 100 countries.)