Evergrande is a wake-up call, with serious implications for investors around the world
Teetering Shenzhen property conglomerate China Evergrande is the Chinese economy in miniature. Both have, in Evergrande’s case mostly housing, in China’s case not just apartments, but roads, rail, airports and other infrastructure.
Evergrande’s business has run out of credit, in large part due to policy shifts by the Chinese government. as its bonds, and those of other wobbly property developers, collapsed. China’s economic model has also run out of road, and the process of putting it on a new track is likely to bring more Evergrande-like mistakes.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China Evergrande shares plummet to 11-year low on default risksShares of Evergrande on Monday plunged as much as 19% to their lowest in over 11 years, extending losses as investors take a dim view of its business prospects with a fast approaching deadline for payment obligations this week.
Lire la suite »
Evergrande fears send stock market tumbling: Here’s what investors need to know about the China property giantEvergrande, a Chinese property giant, is on the brink of default. Here's what investors need to know.
Lire la suite »
World shares sink as China Evergrande fears spark risk offWorld stocks sold off sharply on Monday while safe-haven assets gained as troubles at property group China Evergrande fed concerns about spillover risks to the economy, sparking fresh investor worries ahead of a busy week of central bank meetings.
Lire la suite »
IMF says China has tools to avoid Evergrande's problems becoming systemic crisisThe International Monetary Fund on Tuesday said it is closely following developments surrounding China Evergrande Group , but believes Beijing has the tools to prevent the situation from turning into a systemic crisis.
Lire la suite »
China's Evergrande crisis could drag down Tether and other cryptocurrencies: CNBC After HoursOn today's show, CNBC's Kate Rooney explains why Chinese property developer Evergrande's debt crisis could be trouble for Tether.
Lire la suite »
Evergrande crisis will hurt China’s economic growth, says former central bank advisorA default by Evergrande will have minimal effect on the Chinese financial system, said Li Daokui, a former advisor at the People's Bank of China.
Lire la suite »