Developers have run up huge debts. Now home sales are down, Beijing is imposing borrowing curbs and buyers are balking at high prices.
The US will soon know what that feels like.
If a loss appears, it will all become Chinese domestic problems.
WallStJesus …but globaltimesnews says it’s contained so there’s nothing to worry about…
This will have a ripple effect all over the world. Especially in Vancouver British Columbia!
they enforced the ccp rule to get the land for free or on a few pennies under title state own everything pals. Resale 100 times the value. According to source every high rise buildings in major cities of China propably own by CCP members.
Oh it is on. Doesn’t Goldman Sachs have lots of exposure?
Souns like Western governments. 🤔
Sounds ponzi-esque
Inquietante situación que podría afectar pronto a Peru
A lot of those old buildings have deferred maintenance, they may seem wasteful but many in China consider housing a right, and clean & modern, in major metropolitan areas where there are a lot of people in close quarters
или бомбить вас опять будем))
Диснейленды по всему Китаю, а с нас деньги и на эти гробики.
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wow
A reminder that US has $30T debt. With global trade ruled by $ transactions, any crash of biggest trading partner affects USD as well.
5 trillions pocket change for Communist china.
This is amazing i'm so happy to invest with you pickcrypto1 I'm glad to meet you thanks once again
overdebt is currently a biggest chinese problem
All the buildings are the same that is crazy lol
US has 29 trillion of USD debt and the only way to pay the debt interest is printing more money.
How're those US based CLO's looking?
Julian Evans-Pritchard, an economist at Capital Economics, said his firm has looked at developers’ ability to meet their obligations from cash holdings and doesn’t think most are on the brink of default.
“More than $5 trillion in debt that developers took on when times were good, according to economists at Nomura Holdings Inc.”
First a pandemic caused by their weird eating habits, now a housing market crash. So long and thanks for all the fish, China.
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Source: CNBC - 🏆 12. / 72 Read more »