Section

Evergrande collapse, deconstructive China

By Economic Times - 10 months ago
Liquidation of Evergrande by a Hong Kong court this week piles on the pressure for China to prop up its collapsing property market. Beijing will have to take a call on protecting foreign creditors when homebuyers have stopped purchases. Since real estate is key to the Chinese economy - where households park around three-fourths of their savings and foreign bond holders have pushed enormous credit to developers - some form of taxpayer-led rescue is inevitable.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.