Posted 12/18/2023, 5:23:08 AM
Chinese Middle Class Wealth Declines Amid Real Estate Meltdown, Stock Slump
- Chinese middle class seeing wealth decline due to drops in real estate, stock market, and other investments
- Real estate meltdown wiping out trillions in housing wealth, with prices down 15%+ in major cities
- Stock investments underperforming, mutual funds in the red, banks cutting rates
- High net worth individuals shifting goals to wealth protection over creation
- Middle class investors becoming more conservative, shifting to safer assets like money markets