Evergrande: The Beginning of China’s Economic Collapse?

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Spigzy
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by Spigzy »

The story of Icarus (China) and the Sun (USA) it seems; anyone recall those predictions of the Chinese economy overtaking the US in 10-20 years?

What I can't quite figure out just yet, is:
- Whether the Chinese have shot themselves in the foot when so close; capitalism/de-regulation - Alibaba - Jack Ma's big boots ... shit, better regulate that again
Or
- they have been the victims of a most unfortunate set of economic circumstances brought about by a virus outbreak in one of their science labs, cough Fauci CIA, how unfortunate!

That's set the BKK lion amongst you conspiracy theorist pigeons!!! :D

:popcorn:
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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nemo
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by nemo »

Mistah Winnie, he doan hold with that free market sheeit
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SternAAlbifrons
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by SternAAlbifrons »

Of course this will be "managed" as it would be in the West.
Maybe not as many billions of public funds to prop up Chinese Wall Street than we did - back in the good ol' GFC days not so long ago.
And more bankers will get shot . that's usually good. (joke joyce) - to have some accountability.
"Moral hazard" and all that free market stuff we don't do very well.

I'm not cheering them on - just trying to put some perspective on things.
I don't believe for a minute that China's economy is in peril. That attitude is one of the most dangerous things i can think of at this time.

breaking...
China reckons it's going to put the screws on USA in retaliation for the Winter Olympic boycott.
I think you found their nuts. They're squealing like a stuck pig.
We know the sound quite well down here
"Oh that's just China, we must have landed one in their balls again"
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Kammekor
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by Kammekor »

SternAAlbifrons wrote: Tue Dec 07, 2021 5:52 pm breaking...
China reckons it's going to put the screws on USA in retaliation for the Winter Olympic boycott.
I think you found their nuts. They're squealing like a stuck pig.
We know the sound quite well down here
"Oh that's just China, we must have landed one in their balls again"
It's not a boycott, 'team USA' can still compete. It's a boycott by government officials only.
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Clutch Cargo
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by Clutch Cargo »

SternAAlbifrons wrote: Tue Dec 07, 2021 5:52 pm Of course this will be "managed" as it would be in the West.
Maybe not as many billions of public funds to prop up Chinese Wall Street than we did - back in the good ol' GFC days not so long ago.
You mean go bankrupt as per Enron and Lehman Brothers? :stir:
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SternAAlbifrons
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by SternAAlbifrons »

Kammekor wrote: Tue Dec 07, 2021 7:03 pm
SternAAlbifrons wrote: Tue Dec 07, 2021 5:52 pm breaking...
China reckons it's going to put the screws on USA in retaliation for the Winter Olympic boycott.
It's not a boycott, 'team USA' can still compete. It's a boycott by government officials only.
It is being described by everybody on the planet as a boycott except you.
- an official boycott of diplomats.

Since when did the word "boycott" need Team USA?
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SternAAlbifrons
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by SternAAlbifrons »

:x
clutchcargo wrote: Tue Dec 07, 2021 7:37 pm
SternAAlbifrons wrote: Tue Dec 07, 2021 5:52 pm Of course this will be "managed" as it would be in the West.
Maybe not as many billions of public funds to prop up Chinese Wall Street than we did - back in the good ol' GFC days not so long ago.
You mean go bankrupt as per Enron and Lehman Brothers? :stir:
Trouble maker. (how's that for turning the table 180 degrees?)

No Clutch not those two. (as you well know)
I mean Mr Freddie and his Fanny
JP Morgan Chase (can you beleive it - look them now, multi squillionairres - hey, maybe they didn't really need it and it was just one huge scam after all?)
State Street Corpcorp (who the flock are they, pipsqueaks, they only got 2 bill)
Bank of America Corpcorp
Bank of New York /water Mellon Corpcorp
Citi Group Inc (red ink, obviously)
Morgan again, but Stanly this time.
Bear Sterns (ok, I'll trouser that cheque thank you very much)
Goldman Sax - the infamous jewish jazz musician

lol, Shall i go on? You know i can :)
A dizzying list of 337 names with a google-eying number after each one.

But dammit, still no bankers got shot. :(
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Kammekor
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by Kammekor »

SternAAlbifrons wrote: Tue Dec 07, 2021 8:58 pm
Kammekor wrote: Tue Dec 07, 2021 7:03 pm
SternAAlbifrons wrote: Tue Dec 07, 2021 5:52 pm breaking...
China reckons it's going to put the screws on USA in retaliation for the Winter Olympic boycott.
It's not a boycott, 'team USA' can still compete. It's a boycott by government officials only.
It is being described by everybody on the planet as a boycott except you.
- an official boycott of diplomats.

Since when did the word "boycott" need Team USA?
Yeah, why would a 'winter Olympic boycott' need to include sportsmen and women?
If Biden calls it a boycott then it's a boycott.

Sorry. Different opinion here.
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by Tommie »

Credit analytics company Fitch Ratings cut its rating in Evergrande to "restricted default" on Thursday. They pointed to non-payment on dollar bonds.

As a result, Chinese housing developer Evergrande has defaulted on a loan for the first time, according to Bloomberg.

The Financial Times writes that Fitch is the first to declare a default on the loan.

The development marks the beginning of the end for the debt-laden giant, according to Blo – Fitch has sent out a technical death certificate, but Evergrande partially stopped paying its suppliers this summer, so this has been going on for a long time, explains Pål Ringholm, head of analysis at Sparebank 1 Markets.

"The reality of it is that we knew this," he elaborates.

The debt is now worth about 20 percent of what investors once lent, according to Ringholm.

"So this was a complete crisis in advance," he says.
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Re: Evergrande: The Beginning of China’s Economic Collapse?

Post by nemo »

Big payment coming due tomorrow iirc
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