Evergrande faces imminent liquidation after talks with top creditors break down - WSJ
Chinese property developer Evergrande faces imminent liquidation after its overseas creditors failed to reach an 11th-hour deal this weekend to restructure the sprawling real-estate company, the Wall Street Journal reported on Sunday, citing people familiar with the matter. #china #economy #evergrand #worldnews
@localish
Yes, it was even a problem in China. Last year the planners there aparently acted to solve this and a big #builder, #EverGrand became insolvant and had to destory some sites under #construction and sell off a heap of assets. That saga is reportedly ongoing into this year.
They also reigned in their #techGiants last year, too.
Note that the West has not bothered to do any of this — because we are all ponzi. No productive industry beyond #military.
donuts
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