We are so blessed to have a leader who saw this coming years ago and is doing all he can to soften the blow.
“breathtaking hubris of a ruling class that didn’t know when to quit stealing.”
That will be a fitting epitaph for China’s bubble bursting crash, where every member f the Politboro has become a billionaire on corruption, and the average member of the Great Hall of the People’s deputies is worth over $100 million, while wantonly printing money to fund enrichment schemes for Party Princelings, that will never pay back the public treasury or the banks.
At least in the West there has been efficient investment of the wealth in productive assets, without huge percentages just blown on rotting ghost cities, zombie factories, and overseas bolt holes for petty bureaucrats and their children.