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© 2022 AFPTroubled Evergrande suspends share trading again
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© 2022 AFP
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Michael Hooper
Yes it is good news, i hope they are bankrupted, which causes a chain reaction in the Chinese construction industry. Hope another nail in the evel regime of the CCP.
Just as a rider. Don't buy Chinese products if possible, and don't watch the Beijing Winter Olympics.
ulysses
Evergrande is everything that is wrong with the controlled capitalism in China.
It flourished in a fake bubble, used corrupt practices to do illegal development and when the markets did not rise to meet its artificially simulated demand it is crashing.
Bankruptcy is coming soon and it will have impact on markets outside China and Hong Kong.
It's time everyone started de-listing Chinese firms because a lot of them will tumble soon!
garymalmgren
$400.000,000,000 in debt.
Somebody (bank) loaned all that to them.
Not so sure that was a good idea.
There is going to be a lot of pain for all of the contractors connected to Evergrande
GBR48
The Lehman Brothers collapse involved bigger numbers than Evergrande. As it was a financial company, its physical assets were considerably less than those of Evergrande.
They may have suspended share dealings in advance of a divvying up of the company into smaller chunks. Evergrande is complicated because of the physical assets, mostly pre-purchased by ordinary people.
The CCP will need to protect financially exposed individuals at the expense of larger stock holders to avoid public and political damage. That would be a good thing. In the West, the little guy is always at the back of the queue when a company goes under.