This data should not be seen domestically and comes from a news article by The Wall Street Journal.

Since 2021, the collapse of the Chinese real estate market has directly resulted in a loss of up to $18 trillion in Chinese household wealth. The data compares this to the 2008 subprime mortgage crisis in the U.S., where American household wealth evaporated by $11 trillion.

This data is truly staggering; $18 trillion is nearly equivalent to China's annual GDP, which translates to a loss of $60,000 per household when averaged across all families.

Recently, I have a strong feeling that the RMB exchange rate is plummeting rapidly. I have been assisting several big players in going overseas, and the exchange rate can vary by dozens of basis points in just a week. Meanwhile, the Hong Kong dollar remains unusually strong. It is highly likely that this channel will be blocked by 2025, rendering cryptocurrencies virtually useless. Do not establish any cryptocurrency businesses in Hong Kong; you will soon understand the implications.

Housing prices (stock prices), the economy, and exchange rates cannot coexist in a triangular relationship. Currently, we can only sacrifice one to preserve the other two, or sacrifice two to preserve one. The current strategy of the country is to sacrifice the exchange rate and stock prices while protecting exports and the economy. At the same time, inflation will likely become a significant issue by 2025, stimulating inflation, prices, and wages, which has been a consistent approach.

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