The mortgage strike is snowballing and has reached more than 100 cities. Nine out of ten new properties in China are sold before completion and down payments are a lifesaver for developers and banks. The Chinese Communist Party (CCP) is cracking down and trying to erase news of the protest from social media to stop the strike being organized. Authorities have called China’s beleaguered banks into emergency talks to find a way out of a health-threatening quagmire
