After COVID-19, China Can Now Infect The World With A Debt Crisis

Spreading all forms to viruses seems to be the motto of CCP

The headline and the tagline might seem like I have some sort of an agenda against China. Yes, I do. But not against their culture or their country or the common Chinese citizen. It’s against their oligarchy that has put the rest of us on the wrong end of geopolitical power struggles. You will understand why.

Back in October 2019, reports suggested a deadly new virus emerged from the labs in Wuhan. The same virus has drastically changed our lives over the past two years. The Chinese government however, continues to deny that the origin was Wuhan. For the supposed actions of politicians, common China people had to face racism and stigmatization, and thus the trend Stop Asian Hate was born.

You already know all of this, but now, China could be on the verge of infecting the world again. This time, the organization involved is Evergrande, a fortune 500 company in Guangzhou China. They are a real estate company but also have ventures in other domains like electric vehicles, a football club Guangzhou Evergrande that bought low profile European football players for exorbitant amounts, health care sector, food, finance, music, and more.

But in the past few days, Evergrande has been in the news for all the wrong reasons. Some experts say that this can be the trigger for China’s Lehman moment. Going back to the 2008 crash where the bankruptcy of the Lehman Brothers brought the global economy to a standstill.

The company is currently at a debt of USD $300 Billion. A lot of Chinese citizens believed in the company and purchased homes from Evergrande projects. The company admitted that they are in severe debt with their creditors.

Protestors can be seen trying to jump off from the Evergrande building, a bid to escape debt inflicted by the company in the same building. Few protestors have been reported to have actually died, but then we know how the Chinese media provides factually accurate news. The actual number has been far higher than the 5 or 6 suicides which have been reported. This is causing ripples across the global economy already with the upcoming days uncertain.

India saw a 1 percent drop in nifty today(20th September 2021) and lodged the worst recession since the pandemic began.

The Stoxx Europe 600 index dropped more than 2%, on track for the biggest decline since July. Up in Wall Street, the Dow Jones Industrial Average fell more than 500 points, one of the worst this year. The sell offs have been due to contagion risks from Evergrande meltdown. However, Evergrande and their creditors have been at discussion to curtail the damage.

Will we be headed for another recession like 2008? And if it does, how will the world cope up with two successive pandemics inflicted by the Chinese oligarchy?