China's real estate bubble about to burst - Evergrande

[fenders53]

I think their observation of our big tech's power alarms them.  We let it go unchecked and getting a leash on them now is no small task without disruption of financial markets.  They control the money and media and have great political influence.  This would never work in an autocratic government and Xi knows it.  We see it as straying from capitalism.  They misplayed this badly.  They simply needed to announce taxes would be raised on corporations and it would be progressively scaled.  Now they have funding for socialist programs.  Really no different than the goal of the left branch of our US administration.  Instead they kicked in the door while they pick who gets shaken down.  They forgot to be polite about it.  The common worker may applaud this.  I'm not blind enough to think we don't have a wealth distribution problem in the US.