One thing you don't hear about much because of rampant censorship by the communist chinese govt is the looming real estate bubble crisis in China.

Also offsetting this is the constant news of Chinese/US debt ratios and chinese firm property acquisition on US Soil.

but below is a story about how Evergrande, a company with 300 billion dollars in debt to numerous firms, including through bonds to average chinese citizens.

Recently they missed an 85 million dollar payment on a bond and were granted a 30 day grace period, only paying it off at the very last minute. crisis averted, for a short time, because many more payments are coming due on many more loans and debts that Evergrande is almost certainly not going to be able to cover. Falling of this titan in the Chinese space could spell a massive crisis for the overall chinese financial system. according to estimates China currently has enough real estate sitting empty to house 90 million people, just poured concrete or partially or completely made properties sitting empty.

https://www.reuters.com/world/china/china-evergrande-sends-funds-trustee-bond-coupon-due-sept-23-source-2021-10-22/

Interesting to see what if anything will happen both domestically and in a foreign trade situation should China's real estate and by proxy financial sector collapse. will this cause movement of jobs to the US and elsewhere? will this open an opportunity for the US to buyback debt and drastically alter the debt ratio between the two nations? what will happen to the chinese stock market that has seen a spur of foreign investment due to massive numbers? how long of a real estate caused recession will the nation face in comparison to the US's 2008 housing market collapse?

i for one feel for the little guys in China who could face serious consequences from bond investment defaults, but am glad to see the government's all gas no brakes strategy finally faltering.

What do you mean we don't hear about it much? This is like all I heard about for a straight week

yes its now coming to light, but its been years in the making, and its nonexistent in pard from what ive seen.

we've got 10x more trans topics than something that may send shockwaves through the global financial system. thus is pard i suppose.

Evergrand specifically, but the Chinese housing market has been news since the 2000's when it was already showing signs of over-inflation.

and yes, in PARD we don't talk much about it because we are America-centric (Americaaaa fuck yeah).

I find that here in this forum, there are a lot of talks about hot-button political issues but very little about economic ones. Maybe this is why nobody's talked about China's housing market.

This post was edited by JessiWan on Oct 27 2021 12:20pm

It's also just more appropriate for the finance forum, where there's a thread on it.

I didn't know they made the last payment within the 30 day grace. That's good for now and explains why growth recovered quiet a bit.

Let's see where it goes. I don't see a way for them to recover for the long term without unloading all their real estate and effectively dissolving the company.

thats probably my fault but it seems like this sub is rather obsessed with my people as of late so it probably woulda happened just not as blatant

trans people are miniscule by percent, and so the populace both attacks and stands up for them reflexively because it represents an easy target and an easy win for both sides that will not alter the life of americans greatly. people prefer simple topics, and while the overall life, biology, psychology, etc of being transgender is complex something like a bathroom law or high school sports ban is simple compared to economic policy.

ccp the gift that keeps on giving. covered up covid-19’s spread and then hid this toxic debt crap. guess they’re really trying to westernize in some form

that is true, but as im sure you are aware politics nowadays is about jingling the jingly keys so that most people get swept up with nonissues instead of what could help prevent these economic disasters. i fight the fights i can fight, and help who i can help. economics on a grand scale such as this ill let you guys handle