This is China, a country that once had the single largest P2P lending industry in the world. This is a nation that had around 4000 to 6000 P2P lending companies, and the total transaction value of China’s P2P lending was at 327.8 billion US dollars per year at its peak, that’s larger than the rest of the world’s P2P industry combined. Some of these companies were worth billions and they were able to go public in the NYSE.
But behind all those eye-popping numbers and flashy NYSE listings. Today, out of those 4000 companies, not a single one survived. The industry has entirely collapsed, with devastating consequences for the world’s second-largest economy, especially for regular joes like you and I that put in their life savings in these companies, only to lose all of it instantly.
So what happened? Well today we’re going to explore one of the fastest, fraud-ridden, and most volatile collapses of an entire industry.
0:00 - Intro
2:20 - Why P2P Lending is so successful in China
7:08 - How China's P2P Lending actually work
10:12 - The Horrifying Scams of China's P2P Lending
Music by Epidemic Sound
Stock Footage by Storyblocks
#China #Finance #Doverhill
about economics explained, about Finance and how money works, on China's P2P Lending horrible collapse and the reason why it happened, technology, regulation, fintech, finance , investment, This is an economics/finance video
31 май 2024
