Chinese Stock Market Plunge Sparks Outrage on Social Media
As the Chinese stock market continues its downward spiral, angry investors have taken to social media to express their dissatisfaction. After the Shanghai Composite Index hit a new intraday low of 2,635 points today, individuals flooded the U.S. Embassy in China’s Weibo with messages, only to see their posts deleted. In response, many have shifted their attention to the Indian Embassy in China’s Weibo, with comments surpassing 70,000.
According to a report by Central News Agency, the U.S. Embassy’s Weibo account was inundated with complaints about the stock market plummet and the economic recession. Some individuals even directed criticism towards Xi Jinping, General Secretary of the Communist Party of China, holding him responsible for the situation.
The surge in comments prompted Chinese internet administrators to delete a significant number of posts, though some netizens found ways to circumvent the deletions. Some reported being banned from multiple social media platforms after leaving critical remarks under the U.S. Embassy’s posts.
Now, the Indian Embassy in China’s Weibo is bearing the brunt of the backlash, with messages pouring in expressing admiration for India’s financial market and even issuing apologies for previous discriminatory remarks.
The Chinese people are left questioning why the Indian stock market has experienced significant growth over the past 20 years, with some expressing admiration for India’s success and urging China to learn from its neighbor. The shift in focus from the U.S. to India on social media reflects the frustration and anger of Chinese investors amid the ongoing economic turmoil.
As the Chinese stock market struggles to regain its footing, the public’s discontent and willingness to seek out alternative avenues to express their frustration demonstrate the deep-seated concerns about the country’s economic outlook.