China Evergrande, once the country’s second-largest real estate developer, is drowning in debt. Some 1.5 million people have put deposits on new homes that have yet to be built. Bankruptcy could be catastrophic.
Over the past two days, angry protesters have gathered outside the real estate firm’s headquarters, demanding to know about its future. Investors are growing increasingly nervous that if Evergrande were to collapse, this could could spread to other property developers and create systemic risks for the banking system of the world’s second-largest economy.
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What's behind the collapse of Chinese property development giant Evergrande? | DW News
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What's behind the collapse of Chinese property development giant Evergrande? | DW News
financial english
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Big company should leave China. Morality and ethics can't be replace by money.
Down with the CCP
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.
The problem with trying to figure out what's going on in China is that the government there has such a tight grip on the information. China could be on the verge of a collapse and you wouldn't know anything about it until a week before it happened. The same thing was true with the USSR. Other than Western intelligence agencies, nobody was aware just how dire their situation was until the country imploded one day
This has been known since the early 2010's. It's what happens when you don't let people invest their money
just like everything from china ……
Hello from Canada. FREE OUR MICHAELS!!!
STEPPING TOWARD SOCIALISM
Imagine the collapse of China, it will be amazing.
Rubbish. It’s been blown out of proportion. Just 11% of the $300bn is exposed to securities the rest is to creditors. If they default and that is a big if, it won’t even be a blip.
Well we all know every 10 years there is a crisis…It dot com crash, Lehman, Coronachuan was unexpected, and yeah I guess China deserved the backlash once in for all…..but honesty though from the changes the Chinese Govt have gone (making it illegal for Cram Schools)….they are highly likely that they will actually let it go bankrupt like Lehman….Im just curious about all those Chinese ppl who have assets/real estates abroad (they will feel it coming) and end up selling their foreign property to raise cash…oh no….gg
Under Chinese communist party no company survive but we love that because acuatlly China people see the truth
Please don't compare with Lehman brothers. It was systemic failure. But in China it is default of the company
why the police even protect the scammers?
Chinese economy is the quintessential "PAPER DRAGON": If it ever even burps too close to itself, it sets itself aflame, and the whole country goes down!
It won't be a Chinese crisis, alone, for much longer… ⚠
Every Millennial is really hoping for this 😀
Jinping will use all tactics and measures to destroy world and create his dominance. Sure it is sponsored by CPC just like Wuhna Virus.
Obsession to rule World will destroy innocent people's life.
Uuuf, the money that went missing
The top Chinese Dragon confiscated the money just like smooth as a silk
Finally….. house on sales
$12 for a duplex
Money bags will still be leveraged by the respective state without anything to leverage for but it's the small investor who'll suffer as always
The ccp will arrange a bailout or army tanks will clear the mess just like in Tiananmen square
China is that a country or a MEME XD
After analyzing, maybe, 10 percent are real buyers, which The Party will patronize, the others The Party will wish them good good luck.
CONFIDENCE
Simple as that
Move along..
This just showed the communists are bad economic planners n corrupt..
The Chinese miracle is cracking, n prove to just be a mirage..
Theres a fundamental flaw in the Chinese housing market n strategy.. They are selling land to property co that sells them to the highest bidder, n city official are greedily eager to benefit from the profit..
For a socialist ctry they shud hv focus on affordable housing instead.. This bubble n financial problems are predictable even in the 90s..
The property boom's over, everyone has what they need now as far as buildings go. China's about to experience it's first slump… 🙁