this post was submitted on 30 Jun 2025
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They didn’t intentionally pop this bubble. It popped and they have done everything in their power to limit the damage. China might not be forthright about their policies but they do seem to be interested in preventing social collapse.
Do you think we pull these things out of our butts?
No, I am saying the crash of Evergrande was in no way a planned or negotiated event. Everyone knew there was trouble but no one “popped” it intentionally.
Three red lines was introduced in Aug. 2020. The collapse started in Sept. 2021. It was a centrally planned, managed collapse, with the intent of making the capitalists take the hit instead of the working class. It was very unlike the 2008 one in the US, where no orthodox economist saw it coming, and the government was caught with its pants down, and it ratfucked working class homeowners to save the private banks, who had written bad mortgages that they knew couldn’t be paid.