$80B Lost In Hours As Beijing Move Shocks Markets; Henry Kissinger's Legacy In China - China Update

[TexasTowelie]

00:00 Introduction
00:36 Chinese Economy: Massive Selloff, Tesla & Boeing
07:59 US-China: How China Thinks About Kissinger

[usonian]

1. Text at Forbes

https://www.forbesmiddleeast.com/money/markets/us-listed-chinese-stocks-lose-%2480-billion-in-value-as-didi-delisting-crashes-prices

Shares of Jack Ma’s Alibaba were among the hardest hit, down 8% on the New York Stock Exchange to a nearly five-year low of $112

Shares of Chinese tech giants trading in the United States posted stunning losses Friday amid intensifying concerns over U.S. regulatory efforts to ramp up financial disclosures for foreign entities after ride-hailer Didi Global’s catastrophic trading debut this year, yielding one-day losses of more than $80 billion for the ten largest U.S.-listed Chinese stocks. ...

Key background

Chinese stocks trading in the United States have lost massive amounts of value since Beijing officials issued a series of sweeping private sector regulations this summer—in one instance banning the for-profit education business virtually overnight. “Yes, there’s a huge market and lots of growth potential, but obviously there are regulatory risks that seem to be growing larger with every passing month,” Tom Essaye, author of the Sevens Report, wrote in a recent note. Epitomizing the effect on stocks, Didi shares have tanked 53% since they started trading in June, and Alibaba, once worth more than $858 billion, has crashed about 50% this year.

[Irish_Dem]

2. Xi seems hell bent on destroying the economy.