I think it's a predictable consequence of the mass of covid restrictions, alienation of working population and the fact that the CCP and ping don't like the dynamism of a free market because it makes things unstable. It's bad for them and they don't even like it for China because they think that instability leads to chaos and decadence and you wind up with a crappy country like Russia or decaying country like the United States. They value social order as an intrinsic good and they have for the last 5000 years.