It's no secret that after the Kovid pandemic, China's economy has been hit pretty hard. Further problems were a continuation of the economic confrontation with the U.S., which was not a smart move on China's part, as overestimating its strength is the biggest mistake.
Then there was (and now the problem continues) Evergrande and in general the real estate market and related sectors of the economy....
And the day before yesterday the news came out: China is considering the option of withdrawing 2 trillion yuan ($278 billion) from offshore accounts of state-owned companies to save the record falling stock market. Bloomberg writes about it.
According to people familiar with the matter, Chinese authorities are considering a package of measures to stabilize the falling stock market after previous attempts to restore investor confidence failed and prompted Prime Minister Li Keqiang to call for "forceful" steps.
On the one hand, it seems to be the world's second economy, "the world's factory", nominally "the second pole of the bipolar world", on the other hand, it is no longer possible to hide the problems and it is necessary to take such measures. The question is: since the situation with the Chinese economy is no longer manageable, and we have to take tough and prompt actions to save the economy - how do you think this will affect the global economy, the crypto market, and what to prepare for?
I'm not so sure what to prepare myself for lol. China's economy's been largely isolated and kept amongst themselves so it doesn't really matter that their economy is going down the sinkhole when the whole world doesn't depend upon them for anything. However, what I could envision and want to happen in all actuality is a domino effect of the housing bubble crashing. China's been on the gutter lately because of this and it's not gonna take time before the rest of the world catches up with this. Airbnbs will be sold for cheap and the housing market's gonna be purchasable among Gen Z'ers that we're able to buy land just like how our ancestors did in the past. Way to stick it up to mfers who hoarded houses.
Besides that there's not much to prepare for really, the threat of a global pandemic is still nigh but it's been stated that it wouldn't come from China once again and could come from somewhere else, every country's busy with their own failing economies that they couldn't really care about the state of China's, and we're at the end times environmentally-speaking as we're nearing CO2 emissions that are stated to be "irrecoverable" while our kids are gonna be born with microplastics in their bloodstreams. So yeah, I don't think we should prepare for China, I think we should actually prepare for the rest of the world and the end times that are nigh.