If your exceptionally good salary depends on to NOT to understand something then you won't understand that for all of your life.There is a difference in both intent and effect between simply underestimating risk versus knowingly masking underestimated risk to be pawned off to others especially in a systemic way.
In this kind of market environment ( negative real interest rate ) the market will create the bad actors.
What China limping? It's the US that suffered the 2008 economic bank meltdown not China. I don't know why you bring this up? China is doing fine no matter what the naysayers said.
The 97 crisis affected China as well.
And since that China use the same model like Japan/USA/UK/CCCP: negative real interest rates for deposits.
So, the Chinese (USA,UK,CCCP ) government bailed out the big companies from the household savings.