1661965334 Xi Jinping quotChina to collapsequot financial tsunami is coming

Xi Jinping, "China to collapse": financial tsunami is coming

Xi Jinping quotChina to collapsequot financial tsunami is coming

That China’s real estate market collapses. The brick, which until a few years ago “Drugs “to stimulate the economyhas entered a devastating chronic crisis, with the risk of public protests that could embarrass the party as it nears the October 16 date of Congress to confirm it Xi Jiping for a third term. The figures from the Republic’s envoy in Tianjin, Gianluca Modolo, are worrying. country gardenthe largest Chinese real estate giant, just registered one 96% profit drop of the first semester. Evergrandethe other real estate giant, is burdened by a Debts of over $300 billion so much so that the foreign funds that have invested in Evergrande’s bonds, according to the Financial Times, “have drawn up their own debt restructuring plan and called for its president Hui Ka Yan repays the debt with his own fortune“with a framework of restructuring $20 billion in offshore debt. But from Kaisa to Shimao is the list of companies that went in the first half of 2022 Default on foreign bonds It’s long. Investors have almost guessed at the more than 200 billion outstanding bond redemptions 130 billion losses.

Incredibly, China is on the brink of collapse: what is happening is the economy is upset

According to Gianluca Modolo, the reasons for the real estate crisis can be found inThe supply exceeds the demandWith Sales down 40%; L’Urbanization in record time the last 20 years that it has produced ghost district, with unsold or – even worse – unfinished apartments due to the liquidity crisis of private property developers. Eventually, the push for easy access to credit decided to regulate a bubble that had grown wild. So now many families find themselves with a useless contract in hand and fail to pay the unpaid home mortgages. In more than a hundred cities, hundreds of thousands of people refuse to pay: one “mortgage riot“which will further weigh on Chinese banks. The revolt in Beijing is just around the corner.

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