The Chinese economy is experiencing a near-complete collapse? Is this Twitter Thread true?

Read the whole Twitter Thread...sounds like a real-estate bubble and we've gone thru those...they're recoverable...hard but recoverable.

The Chinese economy is experiencing a near-complete collapse.

Nearly half a million customers have lost their deposits as the banks lent indiscriminately to housing developers who are now facing cascading defaults.

Here’s the story the Chinese Govt. doesn't want you to know 👇

— Graham Stephan (@GrahamStephan) August 17, 2022