CNBC: China’s embattled developer Evergrande is on the brink of default. Here’s why it matters
* Snowed under its crushing debt of $300 billion, Evergrande is so huge that the fallout from any failure could hurt not just China’s economy. Contagion could spread to markets beyond China.
* Here’s how big Evergrande is, how bad its debt problems are, and what’s next.
Chinese property giant Evergrande is on the brink of collapse, and analysts warn the potential fallout could have far-reaching implications that spill outside China’s borders.
“Evergrande’s collapse would be the biggest test that China’s financial system has faced in years,” says Mark Williams, chief Asia economist at Capital Economics.
Here’s how bad its problems are, and what’s in store for investors.
Read more ....
WNU Editor: The pain is already being felt by many in China .... As China Evergrande's debt crisis deepens, unpaid small business owners speak of despair (Reuters).
A lot of my friends in China are worried (no surprises there).
They are telling me to watch China's banks. If Beijing does not intervene, they believe a catastrophic bank meltdown will occur.
More News On Chinese Property Giant Evergrande Being On The Brink Of Collapse
China Braces For "Nightmare Scenario" As Evergrande Offers Broke Investors Discounted Apartments -- Zero Hedge
China Evergrande onshore bond trading suspended after downgrade -- Reuters
China’s Nightmare Evergrande Scenario Is an Uncontrolled Crash -- Bloomberg
Goldman Sachs, JPMorgan warn of Evergrande's debt woes spillover risks -- Reuters
4 comments:
Beijing will intervene, CCP has no other choice, but what is done is done, and it's a little bit too late for the damage with the domino effect.
Welcome to the free and easy borrowing bubble, Chicoms. Where the bankruptcis begin gradually... then very suddenly.
/we leaned our lesson in 2008.
Unchecked speculative Capitalism is fun
If you fck up, you get a bailout from the people you robbed blind
Nice
Evergrande reminds me of the Suez Canal.
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