oscarmatic
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Are you following what's going on with Evergrande? In short, a housing developer promised to build many many homes and owes billions in debt payments. It looks like they may default, sending ripples out across the global economy.
And Chinese regulators? They are stepping in to be sure people get their homes built.
There's no doubt that China is asshoe. There's lots wrong there.
But it is nice to see a superpower focus on taking care of families first rather than investors.
I believe in catching people doing something right, so we can encourage more of it. This looks like a good example.
Orzufancylad
Too bad if Evergrande goes belly up, it might tank the world economy. That will be fun.
cakeordeathdeathimeancake
Lets not forget its all BS anyway, every corporation is really just at the whim of the Chinese Gov who can/will take it whenever they way.
Jusmar
Amazing what you can do when you have complete control over the economy
Billyjimjoejohngerryjosephgeorgejames
"how are we supposed to weld people into their homes if they aren't built yet" Xi Jinping, probably.
yscotty
Oshjoshbagosh
CCP doesn't care about families and its naive to think that. This is about money.
MrTay
Not quite, they are trying to lower housing prices and go after billionaires. It’s how they operate. Take in billions from around the 1/
MrTay
Build up their infrastructure and housing with it. Put in laws make the company default bail out domestic screw everyone else. Then 2/
MrTay
Eat up the remaining assets and put them under a state run company
oscarmatic
Could you unpack that for me a bit? I'd like to better understand the chess moves.
TSwit
Well, its definately cheaper than bailing out Evergrande.
Oshjoshbagosh
You are asking me why the government that runs concentration camps for religious minorities doesn't care about families. Self explanatory.
MrTay
I mean your right they are brutal and evil but they are definitely doing this to get cheap housing for their people and screw the rich.
MrTay
He’s not wrong about them being brutal but they are doing this to put the company under default on foreign bonds bail out domestic 1/
MrTay
Snap up the assets get a bunch of housing for cheap on the back of foreign investment.
oscarmatic
That makes sense as a tactic. Thanks for the clear explanation.