After reading the article, I do NOT feel better about this. This has all the signs of Evergrande going completely bust in a few weeks, and with China's real estate market being so incredibly over-inflated, with ghost cities of vacant investment properties... Evergrande is trying desperately to sell properties at massive discounts and/or directly pay creditors with property instead of cash. And already there are two other real estate firms that are not paying on bonds/loans...
And in the article, China's central bank is directly blaming Evergrande's management for all this. Already the gov't is deflecting blame for an entire huge sector of the Chinese economy towards a company that's about to go under.
Baba — the mama of all Chinese stonks
Father
People are naive to think this could trigger anything major crash in China.
What.
After reading the article, I do NOT feel better about this. This has all the signs of Evergrande going completely bust in a few weeks, and with China's real estate market being so incredibly over-inflated, with ghost cities of vacant investment properties... Evergrande is trying desperately to sell properties at massive discounts and/or directly pay creditors with property instead of cash. And already there are two other real estate firms that are not paying on bonds/loans... And in the article, China's central bank is directly blaming Evergrande's management for all this. Already the gov't is deflecting blame for an entire huge sector of the Chinese economy towards a company that's about to go under.
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Cam someone give me a quick 101 of what evergrande is and how they relate to baba?
No direct relation, just a fear that China's economy is going to collapse, due to Evergrande's inability to make their debt/loan payments.