Recent developments in China have gripped the world. The underlying problems in China’s economy were already being talked about last week, and this week the cracks seem only to widen.
Crisis in China and its impact on the world
The problems in the Chinese Country Garden and Evergrande are not yet solved and new challenges are emerging. China’s largest shadow bank, Zhonhzhi, has suspended payments to thousands of customers, causing the yuan to plummet.
Madelon goes deeper into these topics in her latest video. It not only sheds light on the problems of the Chinese economy and the real estate market, but also how the banking sector is now being dragged into this crisis.
The world is eyeing China with suspicion, and the big question is what impact this will have on the global economy.
Bitcoin price is also nervous
The problems at Evergrande, coupled with the financial turmoil at Country Garden and China’s largest shadow bank, have caused nervousness around the world. This nervousness has not only caused volatility in the stock and bond markets, but also in the crypto market.
Madelon emphasizes that the crypto market, including Bitcoin (BTC), responded to the drop with a decline. This is an indication of how closely intertwined the global financial markets are. The Chinese real estate market, which is already in a bottom, does not appear to be recovering for the time being, which could have further implications for global financial markets, including crypto.
The Netherlands in recession
In addition, contrary to earlier forecasts, the Dutch economy is in recession. Madelon explains why this was to be expected and gives an outlook on what to expect in the time to come. She emphasizes that there are already signs of interesting developments in the near future.
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