China has officially entered a liquidity deflation trap, similar to Japan's recession in the 90s. Unlike the Soviet Union, this is a slow bleed. To maintain currency stability and international standing, someone has to foot the bill. Who? The middle class. Exploiting the poor undermines governance stability, and the rich are part of the inner circle, so the only option is to exploit those who previously took out loans to buy houses... Back in 2021, I was already calling my friends, urging them to sell their houses. I’ve sold my property in Paris too, but unfortunately, most people refused. The economic logic has already changed.