Country Garden, which is one of China’s biggest property developers, has warned that it could see a loss of up to $7.6bn (£6bn) for the first six months of the year.
Amazing it took this long! Must have been some creative accounting.
COVID, the CCP red lining capital rules, and the housing price collapse started 2 years ago. So congrats to Country Gardens for hiding this for 24 months.
China is going through their 2009 housing collapse now. It’s going to be worse than 2009, at least for China, due to the combination of factors of the post pandemic world.
China stop doing American mistakes.
They might be able to avoid it. If they don’t listen to their economists they won’t bailout their fail businesses. In which case they will bounce back quickly.
If they listen to their economists and give free government money to their banks yeah they will be screwed.
