Published: October 1st, 2021,
Last updated: October 1st, 2021
Tens of thousands of retail investors in China are currently fearing for their savings. They have put a lot of money into Evergrande’s asset products and are now wondering whether the state will intervene and save them or whether Evergrande will stop making its payments. Many are taking to the streets, some even taking their frustrations out directly on Evergrande’s founder. The disaster surrounding the real estate giant also threatens Xi Jinping’s CCP. The way Xi will resolve this crisis will help determine its future, analyzes Ning Wang.