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IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / Meanwhile, in China
Post #439,848
by scoenye
9/14/21 6:53:41 PM
9/14/21 6:53:41 PM
Reply
New Meanwhile, in China
https://www.cnn.com/2021/09/14/investing/china-evergrande-group-stock-intl-hnk/index.html
The embattled Chinese property giant has already warned in recent weeks of its cash crisis, listing $300 billion in total liabilities and saying that it could default if it's unable to raise money quickly.


Evergrande, 2nd largest real estate operator in China with Trump-style financing. Everyone is calling in their chits and its projects are already largely shut down. Xi Jinping may have a Lehman Brothers style mess on his hands in a month or so.
Post #439,850
by InThane
9/14/21 8:21:19 PM
9/14/21 8:21:19 PM
Reply
New At least the organ banks will be full.
Ceterum autem censeo pars Republican esse delendam.
Post #439,854
by static
9/15/21 6:11:02 AM
9/15/21 6:11:02 AM
Reply
New China has too much housing and too much bad housing,
Saw a short video on social media yesterday of 15 (!) housing towers being demolished all at once after being incomplete and abandoned for years.

And then there is the actual lack of building quality, due to being such a cut-throat business. Youtuber Winston Sterzal (who used to live in China until they basically chased him out) has done a couple of videos of the poor quality a lot of recent construction. Houses built 3 years ago look like they're 50 years old and already falling apart.

It is possible for an economy to grow too fast for too long... :-/

Wade.
Post #439,856
by boxley
9/15/21 10:41:26 AM
9/15/21 10:41:26 AM
Reply
New sounds like new florida subdivisions,
"Science is the belief in the ignorance of the experts" – Richard Feynman
     Meanwhile, in China - (scoenye) - (3) - Sept. 14, 2021, 06:53:41 PM EDT
         At least the organ banks will be full. -NT - (InThane) - Sept. 14, 2021, 08:21:19 PM EDT
         China has too much housing and too much bad housing, - (static) - (1) - Sept. 15, 2021, 06:11:02 AM EDT
             sounds like new florida subdivisions, -NT - (boxley) - Sept. 15, 2021, 10:41:26 AM EDT

This is nothing compared to Grand Theft Auto III, because you can't steal a taxi cab, pick up somebody, then drive into the ocean with him.
34 ms