Sep.21 — China Evergrande Group is one step closer to default after a missed interest payment due on Monday. Bloomberg Economics says a systemic meltdown is unlikely. Bloomberg’s John Liu reports on “Bloomberg Daybreak: Asia.”
Evergrande Misses Two Debt Payments
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Come on man ask him for money his son has lots
"This is not a Lehman moment." That reminds me of the old saying, "He lied like a finance minister on the eve of devaluation."
The Chinese are a hard-working and long-suffering people; I feel compassion for them.
Ghost voters need parking too, say the Dims!
They missed a Payment is what they say when its one person , corporations Default.
The situation while dire as maybe is due partly to China 'new' policy and regulatory requirement on loans in tango with Banks especially with Big players in the market. Property in Asia at large are overpriced, not just China, and the bubble if any will tsunami even the safest haven in this region.
Its going down this is the tip of the spear be prepared people that's all.
Money printing press goes BBBRRRRRR! Problem solved.
Evergrande is the second largest real estate company……… I wonder….. how about the first biggest one? Are they okay? If second one fail the first one will eventually fail. That is the problem.
BANKS will tightened all the loans toward real estate companies and it will have domino effect
CCP stole all these people’s hard earned money. You know it, we all know it. CCP are thieves.
Nope, it's not China's Lehman moment. Its world's "Evergrande moment".
The market is WAAAY above where it should be right now and inflation is through the roof. The world needs a hard reset. In order for that to happen, lots of people are going to have to suffer and die, because that's how capitalism works.
Wonder if the CCP will bail them out
So how’s it going right now? Did they agree to pay on Thursday?
Hahahahaha yep that’s right If they don’t move people in to all their apartment they have built then how do they expect to make money you tell me
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I dont think the world is as invested in Chinese assets and domestic real estate as they were in the US market in 07-08. I agree that when they say this is not a Lehman moment that's scary but I truly hope China falls and the world is insulated from it. The west needs to decouple from China as much as possible in the post covid reality. They paid no penalty for what they unleashed on the world , intentionally or not they lied about for months in the critical period where time was most of the essence. The communist party needs to fall the west is essentially allowing a totalitarian dictatorship worse than the ussr be the economic engine of the global system. It might be painful but we cannot allow this to continue. Let them do business with warlords and the taliban we need to move on from this one sided relationship
Yep , I hope I'm wrong ;but, I get the vibe they are trying to put a band aid on an amputated limp-time will tell.
Missed payment is default. Call it like it is.
“Everything’s fine you guys” Pay no attention to the Dumpster Fire behind me.
It is not a bank so why compare it to Lehman Bros. A property Developer which uses debt instruments to raise money for funding its operations is very different to a bank. The impacts are not the same, the supply chain to this Property Developer is massive, it has leverage to offshore investors and has borrowed truck loads from banks. The losers will be suppliers, banks, individual investors, customers that have prepaid for properties, and of course institutions that have raised from investors into managed funds, etc. Lehman Bros was a different business altogether (a bank). The reverberations of unpaid suppliers will surely domino the impact widely and of course investor sentiment, the danger of any major business failure, will result in a run down on securities as investors flee. It could exceed Lehman in size as if investors mark down the whole sector on the exchange, there is a possible contagion like we saw at GFC. Be careful folks.
Nothing.to.see here. China has this problem under control. The CCP ?? will victoriously stamp out all corruption and march forward lifting the poorest peasants to levels of dignity. It is the foreigners that always bring diseases and infections to our shores. Just look at the USA Covid 19 virus….
Lol they want you to buy them out so badly.
2008: "Bear Stearns is fine"…Jim Cramer on CNBC.
2021: "This is not a Lehman moment"…John Liu on Bloomberg Asia
Coooommmmmeeeee onnnnnnn CCP bailout
Where there is smoke, there is fire.