SO HOW ARE THINGS GOING IN CHINA? Enraged Evergrande Investors Go Full Pitchfork, Hold Management Hostage In Company Offices. “As the collapse of Evergrande reverberates throughout the Chinese economy, pissed off retail investors have gone from storming the company’s headquarters to taking management hostage, according to the Straits Times, citing posts ‘making the rounds’ on social media. What we know so far: over 70,000 retail investors forked over vast sums of money, in some cases their entire life savings, after the country’s second largest, ‘too big to fail’ property developer wooed them with promises of 10%+ annual returns. And while the company most likely is TBTF (as you can read in gory detail here, although Beijing has yet to make an official proclamation), these anxious retail investors may be in more of an ‘Alive’ situation than a Sully Sullenberger landing when it comes to resolving this mess.”
Well, America is taking on a lot of Chinese values, so I kind of hope we pick up this one too with regard to leaders who have betrayed us.