The End of the Communist Party in China
China’s era of prosperity has come to an end.
The signs are evident with 65 million vacant homes, a collapse in real-estate prices to 2018 levels, and millions of people who have invested in inaccessible apartments due to builder bankruptcies leaving buildings empty and uninhabitable.
The youth unemployment rate in China has reached double digits, and there has been a 16% drop in personal income tax collection, indicating deeper economic difficulties than what official numbers suggest.
A significant amount of capital and people are leaving China, with $500 billion already having exited the country in 2023 alone.
A growing number of Chinese individuals are attempting to enter the US, seeking refuge from the risks to their lives and property in their home country.
China’s economic downturn can be attributed to both external factors like Trump’s tariffs and internal policies under Xi Jinping’s leadership.
Rather than building on the success of past economic policies, Xi Jinping’s shift towards socialism has led to a decline in wealth creation, with a focus on serving the interests of the Communist Party.
Xi Jinping’s approach has resulted in targeting wealthy individuals, leading to arrests and disappearances of prominent figures like the wealthiest woman in China, Whitney Duan.
As China’s economy falters under Xi’s socialist agenda, the Chinese people face challenging times ahead.
Adapted from Steven W. Mosher’s book, “The Devil and Communist China” (TAN Books).
