Reuters Asia economics editor Pete Sweeney;
Foreign investors have finally heard the alarm bells ringing around China Evergrande (3333.HK), an enormous developer with a $300 billion debt pile roughly equivalent to the annual economic output of Finland. On Monday, European and U.S. benchmark stock indexes sold off on fears of financial contagion, while credit default swaps, the costs of insuring against Chinese sovereign default, surged. It’s about time.
Related.
The Chinese Housing Market Explained pic.twitter.com/ewE2Fv0vV9
— CulturalHusbandry (@APhilosophae) September 22, 2021
This thread: “Contagion has begun”
That may also wind up being the explanation of the Canadian housing market.
Chinese greed is as old as the hills.
And hubris. Greed and hubris.
I’ve been hearing the Left has been “Fighting War By Other Means” more often these last couple of months. What happens when the “Other Means” dries up like an endless cracked ground Gobi Desert?
These are the great moments in socialism/fascism.
Aren’t those buildings supposed to drop straight down in a collapse?
These just fell over, apparently to the surprise of those slaves on the ground.
(Everyone in China is a slave. FYI)
How much has JT encouraged the CPP managers to buy into this as well as other Chinese investments?