>>71242657Essentially, they stored a lot of funding (just like people do their pensions and portfolios), in real estate. So, your retirement, is owning property. The problem is, they build a shit-ton of apartments nobody is ever going to use, in absolute garbage tier quality, they are falling apart before they are done. This has imploded their real estate value in much of the country, and made most peoples retirement funds go *POOF*. Combine this with the draconian social credit laws, the CCP's heavy-handed way of dealing with issues, the rampant corruption / nepotism by party officials, and serious gross mismanagement of public works and private investor funds...
Now foreign investors do not want to put their money in to China anymore, because the CCP is squandering it, or even worse, seizing it when they feel like it. The war in Ukraine also made Xi realize he needs the West for trade, or his economy collapses. Hence why you saw him go from, PUTIN MA GREATEST ALLY, to saying nothing about the war. Sad days for the Paper-Dragon.
