China’s Stock Market Plunges, Creating Despair Among Investors
Entering 2024, China’s stock market is in dire straits, and A-shares have been falling. More than 5,200 stocks in Shanghai, Shenzhen and Beijing have fallen, causing the market value to drop by more than 60% from the highest point in 2021, evaporating nearly US$2 trillion. This tragic stock market crash has made many Chinese people despair.
Shareholders are expressing their anger at the situation. Some have taken to social media to voice their frustrations, with one investor saying, “It has been falling for six consecutive months. This is the seventh month. Even an illiterate person will not care about it. How can you still be safe and sound like this?” While another commented, “Canceling A-shares will also save one more fraud platform.”
Amidst the turmoil, the CCP has attempted to block all comment areas, driving investors to leave comments on a post at the U.S. Embassy in China about protecting giraffes. Investors expressed their dissatisfaction, with one saying, “Oh my god, I can finally talk here. I’m so suffocated that I vomit after watching the official media every day. They are all fake.”
As the situation continues to worsen, some have even turned to foreign embassies in China to express their opinions. Investors flocked to the Indian Embassy and the British Embassy in China’s social media platforms to voice their frustrations.
The root cause of China’s stock market crisis stems from the CCP’s power economy, which contrasts with Taiwan’s true free market economy. The CCP engages in black-box operations and exercises willful power, leading to a lack of confidence in the market.
The CCP’s strict restrictions on selling institutions have further added to the chaos, with the financial order at risk of collapsing. The result is a complete erosion of investors’ confidence, leading to a crisis in the financial order.
Xi Jinping’s centralized power and push towards political totalitarianism have further exacerbated the economic and social crises. If this crisis of confidence continues to develop, it could lead to the disintegration and collapse of the totalitarian power of the Chinese Communist Party.
As China’s stock market continues to plummet, the future remains uncertain, with the Chinese people enduring the brunt of the economic turmoil.
Epoch Times first release
Editor in charge: Gao Yi