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 am not too worried about China and their economy, because it's such a huge country and they are in full control by the communist party. Comparing the Chinese economy to Western country economy like USA or Europe is wrong and needs to be looked at differently. It's definitely true that some Chinese companies are struggling with too much debt and the aftermath of the covid pandemic is still having issues today. But in China there are completely different ways to handle the crisis than it would be possible in western countries. In the west it's all about accountability and trying to look good while doing the right things. Whereas in China it's all about the economy and making sure there is a positive growth rate next quarter. So, the Chinese government will decide which company to save and which to go under. There won't be a large public outcry against bailouts or big protest. This freedom of the communist party is going to make it much easier to fight any big crisis and will let China recover much quicker.