Chris Chappell reports that under Xi Jinping, China has purged millions of low- and high-level officials from the government and the Chinese Communist Party. And now he’s taken down another one—Evergrande found Hui Ka Yan.
Chappell says this comes almost two years after Evergrande, which was arguably China’s largest property developer, started defaulting on its debts. In this episode of China Uncensored, Chapell looks at why Xi might have gone after Hui Ka Yan now, how Evergrande’s fall kicked off a housing market meltdown and how this purge could be related to Xi’s arch nemesis Jiang Zemin.
Posted in
Media's Funhouse Mirror and tagged
China property developer,
China Uncensored,
Chinese Communist Party,
Chris Chappell,
defaulting debt,
Evergrande,
high-level government officials,
housing market meltdown,
Hui Ka Yan,
Jiang Zemin,
Xi Jinping |