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Is China heading for a financial collapse? · The Slippery Slope

• 0:05
  Hi, I'm Jason. And this is the slippery slope.
• 0:09
  So for quite a while now a, there's been a lot of people, a
• 0:14
  lot of people in the financial sector have been ringing.
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  The alarm Bells regarding China and saying that they are heading
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  for a financial collapse. And a lot of very smart people
• 0:29
  been saying this This also there.
• 0:32
  Now there's a lot of you know, I like to express how my biblical
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  beliefs, my Christian faith. And there are a lot of what I've
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  called pastors or people that, that talk a lot about Bible
• 0:49
  prophecy. And, and I've had Pastor Tom
• 0:53
  Hughes on this on the slippery slope before and people like
• 0:58
  pass the time you use, talk about how In the Bible, China,
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  the country is not mentioned as being not portrayed, as being a
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  superpower actually, there's probably only one superpower
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  that's talked about in the in what's portrayed, as the end
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  times in the Bible. And I say this, because at the
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  same time, like I said, we have Financial gurus, for lack of a
• 1:26
  better word saying that for that, China is heading.
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  In, in a dangerous Direction, with possibly a financial
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  collapse. And obviously, we had died in an
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  episode last year towards the end of last year.
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  And we did talk a little bit about evergrande and the class
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  of ever ground and what that is doing the massive mountain of
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  debt, that the company had and what that is possibly meaning
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  for China now or the, the Chinese Communist Party.
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  Now just from today, two, different articles.
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  That really piqued my interest in one is from Reuters and the
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  headline says a new Oriental laid off, 60 thousand staff,
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  after China's education, Crackdown the founder says it
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  goes on to talk about how China's new Oriental, which is
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  the name of the company. Dismissed, a 60,000 employees.
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  That's all operating income plunge by 80%, after Beijing and
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  force. He's sweeping rules on the
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  country's progress, education, industry that bad for proper
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  tutoring last year, according to its founder.
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  You meant Hong, who founded the company in 1993.
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  Published the figures on his official WeChat account on
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  Saturday. In a disclosure that showed how
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  the Crackdown in July 20 21 hit, what was once one of China's
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  largest private tutoring firms? The WeChat post did not specify
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  time period for the drop in operating profits prior to the
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  new rules. In you Oriental, add employed
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  105 thousand, two hundred staff, including 54 thousand two
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  hundred teachers according to its website, Chinese authorities
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  last year, banned for profit tutoring in subjects on the
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  school. Curriculum in an effort to ease
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  pressure on children and parents leading to a wave of school
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  closings. Szura's and layoffs across the
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  private education sector. Isn't this?
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  It really highlights the issues. When you have a totalitarian
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  government, communist rule like that.
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  We have they can just ban for proper tutoring.
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  Just blanket ban and a whole industry, virtually collapses.
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  Anyway so we've got this okay. We're whether the government can
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  just Bring this band is called the collapse of this industry,
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  virtually, and we've seen over the last over the last 12
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  months. Or so, how the Chinese
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  government has also cracked down on on free, press on the
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  expression on free expression and and the Democratic any free
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  press that would support democracy and they've literally
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  just closed down newspapers. Has closed down Democratic
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  supporting and media with in Hong Kong just overnight, just
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  it's just amazing. The the Raider, which they, the
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  speed at which they move. So, we have this article talking
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  about that and now just one more, which is also comes from
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  Reuters. And this talks about Chinese
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  developer, shim, Al oversee pronounce, it puts all property
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  projects on sale now, Shanghai Shimmer Shimmer how Group
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  Holdings has put on sale all of its real estate projects
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  including both residential and Commercial properties.
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  As the cash-strapped Chinese property developer accelerates
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  asset disposals. Now just for starters, the fact
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  that it's a second major property developer that is in
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  major Financial stress, you know, along with ever Grant it's
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  just But if that's not ringing the bells, ringing alarm bells
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  for financial markets around the world.
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  I don't know what is in a continuing on, with this shim
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  out who, which defaulted on a trust loan.
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  Last week, has asked agents since last December to help seek
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  buyers for its properties. Cac's in reported over the
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  weekend, I'm sorry. If I'm mispronouncing that the
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  company didn't immediately respond to a request for
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  comment. Shemale group is largely Focused
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  on residential property development with Shanghai shimau
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  construction being its main China, business platform.
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  Shanghai shemale Co limited controlled by shemale group.
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  Mainly develops commercial properties.
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  Now shoo, meow has struck a preliminary, preliminary deal
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  with a Chinese state-owned company to sell.
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  Its shim, our International Plaza.
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  Shanghai a commercial property on shanghai's and Nanjing Road
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  for more than 10 billion won caching.
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  Reported the property developer said last week that it has
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  defaulted on a trust loan payment.
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  While it's unit Shanghai. Shemale construction has
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  proposed extensions on maturities for to asset-backed
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  Securities. Do this month.
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  Shemale has thirty four point two billion won worth of
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  outstanding ABS as well as five point seven two billion dollars
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  worth of bonds. According to SAI shin.
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  So look the main reason why I'm talking about this is like I
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  said, a lot of people have been discussing the possibility of or
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  Ring the Alarm bells for a possible Financial collapse from
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  China. Okay.
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  And we've seen the Crackdown on financial markets and the crack
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  down on people taking bribes within the Chinese government.
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  Also a Crackdown on Free Press, ok.
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  Specially in Hong Kong. And like I said, we have people
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  like people who I would respect as prominent Bible prophecy
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  teachers. Also pointing out that China is
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  not mentioned in end time prophecy and the reason why I'm
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  saying all this is all these things are starting to come
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  together now, we've seen another property, developer collapsing,
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  it would seem another markets with the education department.
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  Looks like it's collapsing within China, a massive
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  industry. We've obviously seen ever
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  Grande. You know, I think it was three
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  hundred billion, three hundred billion It was worth of debt and
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  there's so many other things happening in China.
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  Just last week, I heard report. It seems like it's true.
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  That China is also being stockpiling, stockpiling food,
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  stockpiling grain, within the country, and which seemed very
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  strange. We've also seen them do other
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  strange things like, you know, stopping the, the export of
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  urea, which is what we use for our adblue, which is why we're
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  possibly hitting for a bit of a catastrophe ourselves.
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  If we don't fix up this for our, for our diesel, trucks in
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  trains. And why is China doing all these
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  things that seem a little strange.
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  What are they trying to Stave off?
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  Is it possibly? They just trying to Stave off an
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  inevitable Financial collapse, you know, with doing things like
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  like storing grain story. Seafood.
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  I don't know, the whole situation is very strange.
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  I don't know what else to say about it.
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  All I know is The Bible seems to indicate that China will not be
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  around as a superpower in the end times.
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  During the tribulation times which I've spoken about before,
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  this is something you should watch something that we should
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  all be watching. What's happening in China.
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  Don't bury our heads in the sand and pretend like everything is
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  going to be. All right?
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  I don't believe it is. I think we're in for a rough
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  ride. It's going to be interesting.
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  This is all my opinion. Thank you for listening to the
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  slippery slope.