Evergrande, China's biggest real-estate developer, is being liquidated. It has assets worth about $245 billion, but owes about $300 billion.

A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.

Evergrande has assets of about $245 billion, but owes about $300 billion.

Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.

  • Burn_The_Right@lemmy.worldEnglish
    31·
    9 months ago

    Think of how U.S. conservatives are disgusted by any idea of a progressive experiment. That is how the conservative Chinese gov’t would respond as well.