The company has become one of the most indebted entities with a burden of US $300 billion liabilities, which has decimated its credit rating and share price. Left in its wake are unfinished residential buildings and over a million home buyers who have partially paid for their properties. These developments have also sent shockwaves across the Chinese economy with a 9 percent plunge in prices of Chinese stocks—a new low since the global financial crisis in 2008—and bourses across the world.
torsdag 30. september 2021
Evergrande And Xi’s Grand Vision – Analysis
The optics of sit-in protests by irate investors in various offices of one of China’s largest realty firms, Evergrande, and clashes between demonstrators and law-enforcement gave credence to a view that this was a huge challenge to the Chinese Communist Party. Beijing may not let a good crisis go to waste.
The company has become one of the most indebted entities with a burden of US $300 billion liabilities, which has decimated its credit rating and share price. Left in its wake are unfinished residential buildings and over a million home buyers who have partially paid for their properties. These developments have also sent shockwaves across the Chinese economy with a 9 percent plunge in prices of Chinese stocks—a new low since the global financial crisis in 2008—and bourses across the world.
The company has become one of the most indebted entities with a burden of US $300 billion liabilities, which has decimated its credit rating and share price. Left in its wake are unfinished residential buildings and over a million home buyers who have partially paid for their properties. These developments have also sent shockwaves across the Chinese economy with a 9 percent plunge in prices of Chinese stocks—a new low since the global financial crisis in 2008—and bourses across the world.
