Yes, these are large sums, but not impossible for the government of China to bail out ( just like the Feds did with our banks and mortgage companies during the 2008 financial crisis ).
Posted on 09/28/2020 8:59:22 PM PDT by SeekAndFind
The epoch times tells me exactly what i want. I’m suspicious of this outfit. They were pushing the three gourges dam failure was, breathless, about to collapse
The epoch times tells me exactly what i want. I’m suspicious of this outfit. They were pushing the three gourges dam failure was, breathless, about to collapse
Here is a more accurate picture ( I think ) from Reuters:
SOURCE: https://www.reuters.com/article/us-china-evergrande-idUSKBN26J082
“China Evergrande’s borrowings totalled 835.5 billion yuan at June-end, of which onshore trust loans and bank lending made up 41% and 29% respectively.”
835 Billion Yuan amounts to only $120 Billion ( OK, still a large sum, but not unmanageable from a Chinese government rescue point of view ).
https://archive.is/Foxak#selection-1395.0-1412.0
Sorry...I led you to the wrong link.
ARTICLE TITLE
Shocked: Who is the first to detonate the 76 real estate companies who have to pay 2.5 trillion debts within a year?
In my travels, I saw that China’s corporate, personal and government debt is 300 percent of GDP.
I’m wondering what ours is.
Lots of countries in a lot of debt. wow.
Top. Kek.
1) And they say TRUMP is in financial trouble?
2) Sounds like China coulda used some old-fashioned global *cough* warming. Oh well, there’s always the Three Gorges Dam for a loan reset.
How many fraudulent votes for Omar would that take?
Some third-world author that doesn’t know the difference between conventions using ‘.’ vs ‘,’ as a placeholder in numbers?
[If this is indicative of China’s finances in general, they are in a very precarious place. That said, this makes China an even bigger threat, as their political ‘leadership’ will not just go quietly into the night.]
You might say that was an “Epoch” failure.
Pretty soon Trump will own half of Red China. Welcome to the new Trump Hotel and Politburo Complex in Peking!!!
It is hard to get reliable numbers out of China, because fraud has become such a dominant norm in business and government there.
Yet it is clear by many measures, that they have gone on a truly historic debt binge. A lot of it is pure Ponzi Scheme fraud, and a lot of actual business is far too over leveraged to sustain through a recession. A few months back (before COVID) McKinsey warned that the majority of industrial companies in China were at a very high risk of not being able to meet even the interest payments on their debt, much less pay down the principal.
By far, this has been the greatest debt binge in history.
A tight spot only a major war can pull them out of?
A hundred trillion here, a hundred trillion there. Pretty soon you’re talking real money.
Well, China is dumping the paper yuan for the digital yuan. It’s probably cheaper and easier to add zeros to a digital currency than a paper currency. Digital saves the cost of ink, paper and printing press machines.
The digital yuan should not be confused in any way as a cryptocurrency like ethereum or bitcoin.
Anyway, I think China is on the brink of some ridiculous catastrophic event that nobody expected.
(Buy gold and jars of chunky apple sauce w/cinnamon.)
RE: The digital yuan should not be confused in any way as a cryptocurrency like ethereum or bitcoin.
It also makes your transactions TRACEABLE by the Chicoms. As long as anybody doesn’t mind this, be my guest.
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