Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
China Debt Crisis Implodes as Defaults Escalate, Evergrande Faces Liquidation & Founder is Arrested
Over the past 20 years Businesses and Local Government in China have built up TRILLIONS in Debt. The Property Developers have been struggling to repay or refinance their Bonds and 34 of the Top 50 Developers are currently in Default. Evergrande if the MOST INDEBTED Company in the World and it recently announced that it cannot proceed with its Restructuring as it is unable to issue any new debt. The Company's Founder & Chairman was recently placed under HOUSE ARREST and this followed the arrest of a number of employees at Evergrande Wealth Management. In addition to this Country Garden, which is the Largest Property Developer in China, is out of cash and on the verge of DEFAULT. Added to this the Property Sector is on its knees and demand for property has never been lower. In this video I provide details of the latest situation and discuss the potential impact on both the Chinese Economy & the Global Economy.
Chapters:
0:00 Intro
4:30 DEVELOPERS
6:46 BONDS
10:46 EVERGRANDE
11:47 ARRESTS
13:24 FINANCIALS
17:02 COUNTRY GARDEN
19:30 SUMMARY & CONCLUSION