Yes, but that is not equivalent to "the beginning of China's economic collapse".Kammekor wrote: ↑Sat Sep 11, 2021 6:57 pmWith the current bubble in the market (well, in every market...) a domestic Chinese problem might have a worldwide fallout.Anchor Moy wrote: ↑Sat Sep 11, 2021 6:10 pm
Be careful what you wish for. The economy is global these days.
And when a country is having serious economic problems, there's nothing like a good war to stimulate the economy and to encourage nationalist sentiments among the population.
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Crack down on online gaming for children.
Ban on after school tutoring.
Ban on foreign textbooks.
Crackdown on media like movies and TV. Celebrities told to only promote views that are aligned with the countries thinking.
Reason? Stop western culture being promoted and try to increase birthrate.
Crackdown on Tech companies
Crackdown on rich people
Yup. Never ceases to disappoint me how often people seem to view economics as a zero sum game - the idea that if something is going badly for someone else then it must be good for me.
The 75% drawdown has already taken place, so that money is goneKammekor wrote: ↑Tue Sep 14, 2021 7:18 pmI think your 5.2 billion should be 15.6 billion because at 25c to the dollar 75% of value was lost, not 25%.
If they default the value will drop even more, to just a few cents, maybe less. AFAIK these bonds are subordinated bonds so the chance of regaining anything after a default are extremely small.
In the event of liquidation there would only remain around 25% open interest or so remaining to be lost, if that future event were to come about
Evergrande Group’s Life in Venice real estate and tourism development in Qidong, Jiangsu province.
If this is the sort of thing they're building, good luck to them. 'Life in Venice' fugly cookie cutter condos.
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