Investors flee China after Hong Kong stock market crash
At the same time, Chancellor Scholz grants the Chinese access to German infrastructure.
Where does this trust in Xi Jinping's system come from?
A commentary by Georg Anastasiadis.
When the financial markets gave Liz Truss and her tax plans a few weeks ago, the fate of the hapless British boss was sealed.
Unlike them, China's dictator Xi plays by his own rules: Black Monday with the brutal crash on the Hong Kong stock market after the party congress at the weekend will certainly not cost him his office.
But the apparent withdrawal of all confidence from global investors is a bad omen, a sheet of lightning for the red dragon, which has long been considered unstoppable.
Like Putin, Xi Jingping miscalculated
Like Putin, Xi miscalculated when he believed the West was doomed to doom, obsessed with wealth, greedy for profit, and too effeminate to defend its values.
Beijing has long regretted the pact with Russia, which had lost the war.
By openly professing its hostility, expansionist China has unleashed powerful opponents and united the West against itself.
The US, under President Joe Biden, cut off the Far Eastern superpower from importing any cutting-edge technology in response to its alliance with Moscow.
The stock markets are now doing the same thing, with the same ruthlessness: they are cutting off China's capital-hungry companies from western sources of money.
This will massively hamper the development of the giant empire, especially
Shareholders around the world are panic-selling their China stocks after Xi Jinping's scary show at the Communist People's Congress.
Understandable: investor money is not safe from the state in Xi's China, as our newspaper has been warning for a long time.
Conversely, where Chancellor Scholz got the confidence to grant this China access to the Port of Hamburg and thus to the German infrastructure right now remains his secret.
George Anastasiadis
