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Evergrande in trouble (Read 1156 times)

astroboy

Evergrande in trouble
« on: September 17, 2021, 11:39:33 PM »
Financial contagion could easily spread to the rest of the world just like covid.
Keep an eye on this folks. If evergrande cannot make their payments next week
we could all be in for more trouble.


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DocMercy

Re: Evergrande in trouble
« Reply #1 on: September 23, 2021, 07:14:40 AM »
The powers that be have this under control.

https://www.marketwatch.com/articles/asian-markets-evergrande-deadline-51632391315

Quote
China Evergrande has been issued marching orders from Chinese authorities on how it should prioritize its cash, while the government begins to prepare for the group’s ultimate downfall, according to reports.
Chinese regulators told Evergrande (ticker: 3333.Hong Kong) representatives in a recent meeting that it should prioritize finishing properties under development and repaying retail investors while it avoids a near-term default on offshore bonds, according to a report from Bloomberg.

Above article requires you to (eventually) go through a paywall. Use a browser that allows you to appear incognito. I bought the dip (U.S. stocks), and lived to sell another day. Our own Fed has powerful medicine, maybe enough to avoid a 1929 depression. But, hey, you never know. Keep stocking up on food, gold and ammo.
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