CCP Takeover Leads to Damning Side Effect!

China's CCP Congress Leads to Harsh Side Effect

China’s CCP Congress Leads to Harsh Side Effect

(ConservativeInsider.org) – Over the past two decades, China has been making major strides with its economy. According to PICTET Asset Management, it doubled its gross domestic product (GDP) every eight years in that time while pouring money into technology and research like no other nation. However, investors are second-guessing the country’s stability after the latest Chinese Communist Party (CCP) Congress.

On Monday, October 24, as the 20th CCP Congress came to a close, foreign investors chose to sell $2.5 billion of their Chinese stock after hearing what President Xi Jinping’s hopes for his country are, according to The Epoch Times. During his speech, Xi spoke highly of the need for security and control in the country.

With this, experts believe there will be little relief from his zero-COVID policy that has left many cities in the country with strict lockdowns for months. The measure has kept China’s economic growth stalled, as many people cannot work or purchase goods under the restrictions.

The stock market losses are the worst seen in China since 2008, and the yuan also reached a 14-year low. The Golden Dragon index, which keeps track of Chinese companies listed on the Nasdaq, saw a loss of 14%, which equals around $93 billion. Clearly, Xi Jinping’s strict words had an effect.

As investors back out of the Chinese market, the country is also piling onto its already large public debt and pushing a more Marxist ideology. While President Xi believes he can make his nation one of the strongest in the world if he continues down this road, many are starting to doubt if that will happen with such a questionable economy.

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