Who knew that developing a bunch of property that there was no use for was not a successful business model!?
I remember financial doom porn about Evergrande from 2021.
Is there still a risk of this cascading into a world-wide financial crisis, or was 2 years enough to build a dam around it?
A $300 billion liquidation is going to drastically impact China. Institutional investors, vendors for Evergrande, etc are going to lose their shirts. For perspective, this would be akin to a US Fortune 25 company liquidating because it was too screwed to even enter a structured bankruptcy.
(post is archived)