A recent article on the Chinese website Nikkei suggested that “the world economy is approaching its darkest time,” countries’ difficulties could be more severe than the 2008 financial crisis. The U.S., China, and other emerging economies act to prop up a world economy facing disaster. At the same time, the impact of the 20th National Congress of the Communist Party of China on the Chinese economy began to emerge.

RFA posted a commentary signed by Liang Jing on ​​November 1, concluding that if there were one word to describe the current headlines in China, it would be “run away.” Hundreds of thousands of defected Foxconn workers, elites, and senior leaders of China all seek to escape from China. The news spread quickly: Thailand had designed a new permanent resident visa to accommodate “senior” Chinese people. Other Southeast Asian countries are rapidly catching up, and China is ushering in a wave of migration that has never been seen before.

Since China’s real estate is now impossible to buy with money, many owners in Zhejiang have to mortgage their homes to banks, find a way to exchange foreign currency, and then take the money abroad. Some netizens support this statement, claiming that this is not a rumor but a fact.

Some investment advisors say this is very simple and have given the idea to their friends.

If this approach is widely used, it will at least affect China’s banking system, foreign exchange reserves, and the exchange rate of the renminbi/yuan.

Previously, China’s big banks showed signs of being unsustainable, and there was a series of fights over cash at banks across China. In the future, if local banks continue to run out of money, while the Beijing regime is already poor and has not taken any measures to solve this problem completely, depositors will have to suffer damage, which leads to social conflict, which can jeopardize the stability of the Chinese Communist Party (CCP).

In addition to the Chinese people fleeing, once Taiwanese and foreign businessmen decide to leave the mainland, the CCP will be hit even harder. In the past, the CCP has restricted foreign entrepreneurs from leaving the country by not allowing foreign traders to bring money out of China, requiring them to reinvest. However, the fleeing of Foxconn employees has become a notable event, fearing that the incident will spur foreign businessmen to want to leave China rather than suffer.

General economist Wu Jialong posted on Facebook on November 1 that China’s financial crisis is getting worse and worse. Next, many tricks, such as “disguised taxation,” will be applied. The so-called “commonwealth” means your assets will be appropriated by the CCP, which means wanting to rob money. If Taiwanese businessmen stay in China, they may be taxed or disguised as nationalization. If the situation gets worse, many bank accounts may be frozen.

Wu Jialong said that the CCP has even attacked large-scale private Chinese enterprises. As a result, the outside world predicts that Taiwanese businessmen will continue to flee. For foreign enterprises, the same situation occurs.

The U.S. is severely punishing the CCP in the semiconductor and financial sectors. As a result, the alarm bells that China’s financial crisis is about to break out are ringing continuously.

Economist Li Hengqing mentioned in an exclusive interview with RFA earlier that, from the lessons of history, financial crises often lead to political consequences. For example, in 1948-1949, the financial crisis of the Kuomintang government in Nanjing influenced the civil war between the Kuomintang and the Communist Party in China. The 1997 Asian financial crisis also led to the collapse of the governments of Korea, Thailand, and Indonesia. Therefore, financial crises often lead to political changes.

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