Stoic Finance
Oct 2, 2021
China has been a hot topic for financial news over the last few months and there’s no wondering why. It started off with some pretty scary authoritarian moves by the C-P to curb business and more specifically Capitalism. Jack Ma disappeared for months as control of his two companies worth over a trillion dollars was stolen from him. DiDi, the Uber of the east was essentially sanctioned and had their growth prospects dashed overnight for daring to IPO in the United States as opposed to in China. The education sector was nationalised with no warning overnight, causing Gaotu and its CEO, Larry Chen to lose 99% of the wealth that they had created over the past 20 years. And then more recently, Evergrande and the entire Chinese property sectors dangerous levels of debt and vulnerability to a liquidity crisis was exposed as well.
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