Another FUD article from Bloomberg. I think it touches on a lot of anecdotes that I hear from network in China about the state of the finance and tech industry. I've personally wanted for a long time to go to China for my career, but the environment is overwhelmingly negative for my industry (finance).
While developing chip manufacturing and renewable energy is crucial for national security, I think having a thriving service industry is just as important. There's no reason for China to be both a manufacturing powerhouse and a finance/tech powerhouse. This economic downturn feels manufactured in order to boost the targeted 'high quality' industries identified by the CCP. I don't think the clamp down will hamper the service industry permanently, though it has unleashed a wave of negativity. Curious other's thoughts on this.