Earlier quoted context omitted.
Refusing to bail out real estate speculators was bold and painful, but I'm not sure it was wrong.
They bailed out the little people and jailed the CEO's. What happened was these companies went into massive debt building buildings based on the belief that real estate prices would increase forever infinitely. The Chinese govt popped the bubble. These real estate companies went bankrupt, many of them took payments from retail for apartments that weren't built. They arrested the CEO's and upper management, siezed and…
Moreover China’s govt was the cause of this by setting gdp growth quotas to get promoted, see all my other comments regarding this.
You’re just repeating propaganda and interestingly the other commenter responding to me has said the exact opposite, but also has said that China’s response was “morally superior”