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20 Dec 2023

China's Real Estate Crisis Decimates Middle Class Wealth

The real-estate and stock market downturn in China [has significantly eroded middle-class wealth](https://fortune.com/2023/12/17/china-middle-class-real-estate-meltdown-wealth-loss/), with household asset values like stocks down by 30% and investment properties by 20%. Financial worker Thomas Zhou from Shanghai encapsulates the plight faced by many, as the struggle to maintain employment becomes paramount amidst fears of growing unemployment. China's economy contends with the challenge of recovery post-Covid-19 lockdowns.