as far as I know China has been at this for over 20 years now. Why would it collapse now? what has changed that would make it serious now? I mean I've heard of empty cities in Chine in early 2000s for the first time. in 2010 i've heard people been slowly moving in to these empty cities.
Evergrande was at the center of this ponzi scheme, they cant pay their bonds that are due, the investors see they are broke and have quit investing. No money to feed the scheme and it goes belly up.
because now this latest round of defaults has caused the whole armor plated monster to roll over and expose it's soft white underbelly...
people all over the world lost BILLIONS on this one conglomerated deal, and all these other real estate schemes are suffering from the same cancer...
shit buildings sold on speculation of growth that isn't ever going to happen... nobody is going to move into these cities, half of them are so fucked and falling apart that the CCP is ordering entire cites worth of dilapidated high rises to be blown the fuck up.
as far as I know China has been at this for over 20 years now. Why would it collapse now? what has changed that would make it serious now? I mean I've heard of empty cities in Chine in early 2000s for the first time. in 2010 i've heard people been slowly moving in to these empty cities.
All Ponzi schemes collapse. Maybe not this year but soon.
Hell there's an interview of Mel Gibson on Australian TV from the late 80s where he was warning people about China.
Evergrande was at the center of this ponzi scheme, they cant pay their bonds that are due, the investors see they are broke and have quit investing. No money to feed the scheme and it goes belly up.
because now this latest round of defaults has caused the whole armor plated monster to roll over and expose it's soft white underbelly...
people all over the world lost BILLIONS on this one conglomerated deal, and all these other real estate schemes are suffering from the same cancer...
shit buildings sold on speculation of growth that isn't ever going to happen... nobody is going to move into these cities, half of them are so fucked and falling apart that the CCP is ordering entire cites worth of dilapidated high rises to be blown the fuck up.
turn out the lights, the parties over.