As the real estate sector is directly linked to multiple areas of the Chinese economy, the collapse of #Evergrande could devastate both #China and the #UnitedStates

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Hundreds of #Evergrande property owners are protesting. They picketed a municipal government building in China’s Chongqing city on Monday.

They said they had paid for their unfinished properties, but #Construction had been suspended for months.

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Two big #Shareholders of debt-trapped real estate company #Evergrande are selling their shares. One is aiming to save the company, and the other is trying to keep a distance from it.

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Calling #math students what’s that???????!!!!
Oh no it’s just another chapter of the downfall of once this huge Chinese developer ….
#ccp #fuckccp #boycottchina #china #evergrande #bubble #meme

Evergrande's crisis was 'a long time coming,' says banned short-seller Andrew Left

Andrew Left, an American short-seller banned from trading in Hong Kong for a damning report he wrote on Evergrande years ago, told CNBC the Chinese property developer's debt crisis was "a long time coming."

But he said he doesn't think Evergrande's situation indicates a widespread problem for China.

Left, the founder of Citron Research, was banned from trading in the Hong Kong markets after he published a 2012 report predicting that Evergrande would soon be insolvent.

His five-year ban ends next month.

Source: CNBC #Sep24

https://www.cnbc.com/amp/2021/09/24/citron-research-short-seller-andrew-left-on-evergrande-debt-crisis.html

#Andrew #American #Seller #Banned #Trading #Evergrande

https://www.youtube.com/watch?v=y7j5E8pb5jI

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https://www.youtube.com/watch?v=y7j5E8pb5jI

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https://www.youtube.com/watch?v=y7j5E8pb5jI

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Washington is getting China wrong

Evergrande group, one of China’s largest property developers, is tottering on the brink of bankruptcy. Its founder, Hui Ka Yan, is scrounging to find the cash to meet payments on the $300 billion his company owes. Beijing has warned local officials to prepare for possible fallout if the gargantuan firm collapses. Around the world, financial analysts are wondering if Evergrande is China’s “Lehman moment,” the starting gun for a destructive wave of defaults that could take down the nation’s banks and set back the country’s—and the world’s—already shaky recovery from the pandemic-induced economic downturn.

Source: The Atlantic #Oct11

https://www.theatlantic.com/international/archive/2021/10/evergrande-china-us/620360/

#Washington #China #Evergrande #Economic #Beijing

https://www.youtube.com/watch?v=y7j5E8pb5jI

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A Chinese bank seizes $2 billion from #Evergrande. Apparently, the subsidiary put its cash up as collateral for somebody’s else loans.

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https://ept.ms/GlobalFoodShortage

A Chinese bank seized $2 billion from real estate giant #Evergrande. And with the money gone, experts say the firm won’t be able to pay back its #ForeignDebt.

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#Evergrande carries a total of more than $300 billion in #Debt, and defaulted in late 2021. Since then, China's biggest developer turned into the world's most indebted developer and has struggled to stay afloat the last two years.

https://ept.ms/USFirmRaided