Evergrande liquidation

truffledog · Post by **truffledog** » Mon Jan 29, 2024 1:49 pm

Evergrande to be liquidated-300 billion US$ of debt-approx 10 times the GDP of Cambodia. Who's next?

https://www.reuters.com/business/embatt ... 024-01-28/

Tootsfriend · Post by **Tootsfriend** » Mon Jan 29, 2024 1:59 pm

'' Evergrande chief executive Siu Shawn told Chinese media the company will ensure home building projects will still be delivered despite the liquidation order. The order would not affect the operations of Evergrande's onshore and offshore units, he added.''

Someone is out of touch with reality.

newkidontheblock · Post by **newkidontheblock** » Mon Jan 29, 2024 5:13 pm

Economy is bad in China right now. Chinese who were trapped overseas during the lockdown can return but there are no jobs. Major banks have unofficially frozen withdrawals. Car dealerships have closed with anyone who put money down never getting their car. Salaries have been cut on military and government - police, etc. employees.

Most of the wealth of the country (and the average Chinese citizen) was tied to housing.

The Chinese low cost tourist hordes aren’t coming back.