2024 China Misery Index: Middle Class Can t Survive, Nationwide Debt Looms

Industries across the board are in a severe recession. Physical stores and shopping centres are shutting down en masse, and many business owners are drowning in debt, constantly harassed by banks for payments. When they cant repay their loans, these entrepreneurs are branded untrustworthy, becoming judgment defaulters. Once on this blacklist, they cant take out loans, use public transportation, take planes, ride highspeed trains, or stay in hotels. Their business activities are severely restricted, leaving them with almost no way to move forward. ,chinaobserver All rights reserved. You can support us at: For business cooperation, please contact us: