China’s auto star is bankrupt, owing more than $7 billion in wages

https://www.youtube.com/watch?v=SF3gRNNTjec

In July, Changjiang Automotive, once known as “Asia’s largest” new energy vehicle factory, officially went bankrupt, exposing the story of the development of China’s new energy vehicle industry. Massive subsidies from the Chinese Communist Party have led many to jump into the industry. However, there is too much fraud, which eventually leads to debt and bankruptcy.