A mid-sized Chinese real estate developer has failed to make a $282 million payment due to bondholders, adding to the industry's financial strain as one of China's biggest developers tries to avoid defaulting on billions of dollars of debt.Fantasia has become the latest Chinese real estate developer to fail to make payments on debt obligations
Chinese developers are struggling to repay debt after regulators tightened limits last year on their use of borrowed money Evergrande is one of China's largest property developers, claiming to own more than 1,300 projects in more than 280 cities across China. On Monday it suspended trading of its shares, pending an announcement in relation to a "major transaction".
And China’s house of cards comes tumbling down … can’t go to war with anyone if you don’t have to dollars to bank roll it or the money tofeed an army or the COAL to keep them warm 🥱