​China Hemorrhages Third Of All Billionaires Amid Property Market Crisis  – Tyler Durden

China Hemorrhages Third Of All Billionaires Amid Property Market Crisis  Chinese billionaires have lost massive wealth due to the property market downturn and turmoil in the world’s second-largest economy. In response, Beijing has rolled out yet another stimulus package, this time on Tuesday, as the Communist Party of China seeks to appear more proactive in supporting the economy amid a decades-long, investment-driven growth model that has hit stumbling blocks over the last several years. The multi-year economic downturn has roiled the billionaire class in China, with many losing their billionaire status and being downgraded to centi-millionaire.  Financial Times cites new data from research group Hurun,…  — Continue at ZeroHedge News : Read More