They are having a mini GFC. Hopefully it isn't widespread. China seems to have a lot of issues right now. Tough to manage hyper growth winding down to something more normal.
On a side note you following the China-Macau gambling regulation drama? WYNN and others getting slaughtered. I truly do understand they are trying to curb some things market wide they view as a threat, but they are attacking everything at once. They are going to screw this up and cut themselves off from international investing if they don't slow down.
WYNN is particularly dicey. 20yr agreement expires in 2022. They invested billions in infrastructure with literally billions more in design phase. They could literally lose their gambling license in under a year. China is hinting they are going to shake them down like BABA. That's bad long-term strategy IMO.
On a side note you following the China-Macau gambling regulation drama? WYNN and others getting slaughtered. I truly do understand they are trying to curb some things market wide they view as a threat, but they are attacking everything at once. They are going to screw this up and cut themselves off from international investing if they don't slow down.
WYNN is particularly dicey. 20yr agreement expires in 2022. They invested billions in infrastructure with literally billions more in design phase. They could literally lose their gambling license in under a year. China is hinting they are going to shake them down like BABA. That's bad long-term strategy IMO.