🇨🇳The gambling addicts have been playing with high leverage for 20 years, from real estate to investments in all sectors to A-shares, from state-owned assets to local governments, to industry leaders, to small business owners, to household mortgages—all are high-leverage gamblers.

Now, not only has the period of rapid development passed, but all the gamblers have been margin called together. In the future, like Japan, they will have to slowly work to repay their debts for 30 years. This is called "repairing the balance sheet."