We have experienced two moments of too-big-to-fail crisis in the past decade, and we are now in the midst of a second crisis.
Rewatching this movie, it's so sad.
In fact, all quasi-financial industries with large financial financing and currency creation capabilities should be strictly regulated.
For example, real estate.
The problem in China is that there is no mature bankruptcy system. The bankruptcy of Evergrande has dragged on for three years. Things that should have been promoted since 2019 have now dragged the country into a mud pit.
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