A real estate crisis like this can last a few years (!). And just because Chinese real estate developers are playing Final Fantasia doesn't mean that American real estate developers are moderately indebted. sind...dort apparently little has been learned from 2008
Hong Kong's Hang Seng index drops 2% amid Evergrande trading halt
Trading in the Hong Kong-listed shares of China Evergrande Group was halted on Monday as investors continue to monitor the situation surrounding the embattled developer.
"Evergrande default related stress may return to the fore as a dollar note worth USD260mn issued by Jumbo Fortune Enterprises, guaranteed by Evergrande, effectively matures today," Mizuho Bank wrote in a Monday note. "Nonpayment would constitute a default." - CNBC
BTC will keep crashing when people want liquidity. Until finally many market participants understand that BTC is an excellent inflation protection. We are still a long way from that point. It's still early
I wonder if China will bail out the country's No.2 property developer.
“S&P Global Ratings also downgraded the developer, saying its liquidity and funding access “are shrinking severely.” Earlier this week, Chinese authorities told major lenders that the firm won’t be able to meet interest payments on loans due Sept. 20, according to people familiar with the matter. That came after the firm hired advisers for what could be one of the country’s largest-ever debt restructurings.” -Bloomberg
