Home Trending VideosGraham Stephan It’s Over: China’s ENTIRE Economy Is About To Collapse

It’s Over: China’s ENTIRE Economy Is About To Collapse

by You Are Rich

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Throughout the last few years, China experienced what many would call a “real estate housing boom bubble,” as citizens preferred to invest their money in housing as a safety net, causing the real estate market to increase double-digits year over year. But, there was a problem:

It’s alleged that some of the largest developers were taking presale money, funneling them into NEW projects for the purpose of garnering even MORE pre-sale deposits, and running a property Ponzi-scheme by using new funds to slowly complete the construction of past projects.

As more and more properties fell behind on construction, or flat-out abandoned projects due to a lack of funding…buyers have staged a mortgage boycott…where “All homebuyers with outstanding mortgage loans will stop paying, unless construction resumes before Oct. 20.”

The loans have also spilled into their banking system, where customer deposits have been frozen since April. Over 400,000 customers across China have fallen victim to similar “bank-run” activities, and it’s reported that a quarter of the industry’s total assets are held by 4000 smaller lenders…”which often have opaque ownership and governance structures and are more vulnerable to corruption and the sharp economic slowdown.”

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