Closures, Layoffs and Suicides: China’s Economic Freefall

Chinese society is volatile, its economy in freefall, and the human cost staggering. A new mandatory social insurance policy—set to take effect September 1—will force struggling businesses to pay up to half of wages into a system many workers don’t trust. For China’s private sector, already battered by debt, regulatory crackdowns, and collapsing demand, this could be the final blow. In just four months, five top entrepreneurs—from billionaires to industry pioneers—have died by suicide under crushing financial and political pressure. Their deaths reveal a deeper truth: when China’s elite start falling, the system itself may not be far behind.