China Is Broke – Rulers Are Desperate – Bad Things Are Going to Happen
Gordan Chang says –
China is broke. China's rulers are desperate. Bad things are going to happen in that country.
If anyone would know, Gordan Chang would know.
This is the report Gordan is referring to –
Beijing is launching a wave of aggressive revenue-raising measures to fill its empty state coffers. Instead of addressing structural economic flaws, the regime's solution is a ruthless tax dragnet targeting wealth everywhere it can find it.
On top of auditing ultra-rich offshore trusts, Chinese mainland authorities have now begun enforcing a 20% personal income tax on Hong Kong insurance policies—triggering immediate panics and sharp sell-offs across Asian financial markets.
Domestically, desperate local bureaus in cities like Shenzhen are using big-data tracking to force citizens to repay COVID-era unemployment benefits and pandemic allowances, while hitting businesses with corporate back-taxes dating back decades.
From raiding private insurance policies to squeezing ordinary workers, Beijing is treating private assets as its own open piggy bank.
When an authoritarian state
