Category: China

On October 15, the 138th China Import and Export Fair, also known as the Canton Fair, officially opened. Promoted by officials as the “largest and most attended fair ever,” it is often seen as a key indicator of China’s foreign trade. However, the actual scene at the event tells a different story.

China is absolutely out of control right now!

China’s number two general He Weidong and eight other high-ranking officials have been expelled from the ruling Communist Party on corruption charges. They are the most senior officers to be purged in an anti-graft push that began in 2023. General He was last seen in public in March and his absence fuelled speculation he was under investigation. The defence ministry said the nine men are suspected of financial crimes involving QUOTE “an extremely large amount of money”. Chapters:0:00 Chinese generals expelled from CCP0:32 Rorry Daniels, Asia Society Policy Institute

On August 7, 2025, China introduced the K visa, targeting young foreign talent with a bachelor’s degree or higher, effective October 1. Requiring no work experience or employer contract, it sparked massive social media backlash by late September, with netizens arguing it allows foreigners to compete for jobs amid high youth unemployment. Unlike R and Z visas for high-end and professional talent, the K visa aims to boost consumption, not employment, as domestic spending falters and investment drops sharply (9.3% in August). With a 63% macro leverage ratio and 54 million credit-restricted citizens, the government seeks foreign spending to offset economic deflation. However, the policy’s low threshold ignited public outrage, culminating in a crashed petition website and media rebuttals, highlighting tensions over job competition and the government’s apparent abandonment of domestic youth for foreign economic contributions.

This claim has been making the rounds, so let’s discuss it.

The Hurun Research Institute’s report reveals a decline in China’s affluent households since 2022, aligning with the real estate market’s downturn. Households with assets over six million yuan dropped to 5.128 million, while those exceeding ten million fell by thousands annually due to emigration and asset shrinkage, primarily from property values constituting 50-70% of wealth. This has led to cash flow concerns and a pessimistic mindset among the wealthy, with money now ranking third in priorities after health and happiness. Consumption is shifting from flashy luxuries to practical family needs, with tech products leading. High-net-worth individuals are categorized into six groups, mostly defensive, highlighting risks of social decline. In contrast, U.S. wealth grows amid inflation, supporting optimistic consumption.

U.S. Treasury Secretary Scott Bessent on the President Donald Trump’s role in the Israel war and China’s rising aggression amid trade tension.