Commentary
Shupai Yigou Digital Store, a Chinese digital investment platform, collapsed suddenly late last month, leaving hundreds of thousands of people across the country reeling.
Thinking About China
Opinion
Shupai Yigou Collapse: A Ponzi Scam That Exposed China’s Deeper Fault Lines
Shupai Yigou was not just a Ponzi scheme—it was a system-wide failure, where greed, blind trust, and lax oversight created the perfect storm.
Chinese paramilitary police march on Tianamen Square in Beijing, in a file photo. Frederic J. Brown/AFP via Getty Images
