Sadly the Chinese do not finance most of their purchase. They put a lot of their savings.
That means it is worse, their savings are wiped out.
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Sadly the Chinese do not finance most of their purchase. They put a lot of their savings.
That means it is worse, their savings are wiped out.
Often it's also savings from other reletives like parents and grandparents, funds meant for retirement. It is very bad. I feel for my distant relatives still living over there. I've seen old photos of the cousins I have never met.
Yeah wiping out generational wealth.
Exactly. A very bad situation weighting on the shoulders of the claimant/victim/owner who often takes care of the grandparents too.