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    Gordan Chang – “China Is Broke – Rulers Are Desperate – Bad Things Are Going to Happen”

    World Politics 5 Mins Read


    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 squeezes both global investors and its own struggling populace just to stay solvent, economic stability becomes purely an illusion.

    We reported on Wednesday that China’s economy was cracking.

    China’s economy was praised as the model for the Western world. Then, a few years back, it began to turn sour.  President Trump’s first administration did a number on China, which is why they wanted him gone.  This alone may be why China was involved in the COVID outbreak in 2019-20 (as reported in the book, The Steal – Volume I: Setting the Stage).

    In 2023, the world began to see China’s economy falter.  We reported on a piece at the Business Insider.

    It’s been clear for years that the Chinese real-estate market has been in trouble. China has a population of 1.4 billion, but it has built housing for a population of 3 billion, according to expert estimates. Many of the mega-developments became empty monuments to Beijing’s insatiable desire for growth. In Shenyang, farmers have taken over a development of empty mansions for cattle grazing.

    At that time, real estate giant Evergrand began reporting problems, and it finally dissolved a few years ago.

    China’s Evergrande Files for Bankruptcy – World Economy in Dangerous Shape

    Now the value of real estate in China is collapsing to its lowest prices in at least the last 20 years.

    In response, the government instituted a law saying that it will not allow some people to leave the country, maybe.

    🚨 China Just Made “Maybe” a Crime. Now Everyone Is a Flight Risk.

    Beijing has quietly redrawn the line between citizen and suspect, and it did it with a single word.

    Under China’s new Regulations on Exit and Entry Administration, effective September 15 but already being trialed at some ports, one term appears again and again: “may.” Not “did.” Not “will.” May. If an official decides you “may endanger national security, interests, industrial security, or technical security,” you can be barred from leaving the country. Nowhere does the text define what “may endanger” actually means.

    That vagueness is the point. The power to stop you at the border has been pushed all the way down the chain, provincial governments, the Commerce Ministry, even county-level offices can now decide who flies and who stays. As geopolitics scholar Chen Wen-chia puts it: you’re no longer flagged for what you did, but for what someone imagines you might do.

    This is the machinery of a paranoid state, jumping at its own shadow. China has flipped its legal logic from punishing crimes after the fact to preventing exit before anything happens. State firms are reportedly already tightening travel approvals for staff. Those labeled a “threat” abroad can be blocked from leaving for six months to three years after they return.

    Why now? Because the regime is scared. With the economy sagging and public anger simmering, Beijing fears its own people voting with their feet, and fears even more what they say when they come back. Engineers in semiconductors, AI, and finance should read the fine print: you may be next on the watchlist.

    The message to 1.4 billion people is chillingly simple: the door is closing, and no one will tell you why. (Aric’s note: Regarding China’s current population, some analyses and experts believe it is far smaller than the official figures claim, though the actual data remains unclear.)

    If you’re planning to leave China, understand the rules before they understand you.

    ACI — Aric Chen | Insights

    Editor’s note: The video is a related news segment from the World News I anchor.

    Now China is going after people’s and insurance companies’ money.

     





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