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.

  • Wanderer@lemm.eeEnglish
    52·
    10 months ago

    I’m not saying it’s ideal or healthy.

    But I don’t see how the west would have an upcoming issue with real estate.

    People are still willing to pay increasingly large amounts of money for real estate and when locals can’t afford it they just bring in immigrants.

    I’d be interested to know how the real estate valuation in the west is going to decrease.

    • Nahodyashka@lemmy.worldEnglish
      4·
      10 months ago

      I have a feeling that “too big to fail” will continue to be the mantra in the west for bailing these institutions out.

      • Wanderer@lemm.eeEnglish
        1·
        10 months ago

        They got given loans that they had to pay back with interest.

        But I don’t see how the west are going to fail. What’s happening in China is different to the west