#China #Evergrande #Economy
The real estate crisis in China worsened throughout the week, with Evergrande undergoing asset seizures, worsening housing data and growing evidence of a debt crisis within China’s economy.
As Western investors are growing increasingly worried about Evergrande’s willingness/ability to pay its debts, Oaktree seized over 1 billion dollars in property from Evergrande.
China’s real estate sales also continue to slump, with sales down 39.6 percent from January of 2021.
The drop in sales is even more revealing when considering that, by some estimates, half of China’s real estate sales are being bought up by government-backed Local Government Finance Vehicles (LGFVs).
Whether or not China’s economy will prove able to handle a simultaneous real estate crisis, debt crisis, and economic slowdown remains to be seen.
China Home Sales Slump Deepens as Easing Shows Little Effect:
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China Weighs Dismantling Evergrande to Contain Debt Crisis:
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Evergrande is not China's 'Lehman moment': Rosenberg:
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Evergrande Says Creditors Have Moved to Seize H.K. Plot:
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Are Foreign Investors in China Second Class Citizens Now?:
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China’s Property Market Off to Bleak Start in 2022:
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China Evergrande seeks legal recourse after creditor Oaktree seized indebted developer’s Versailles-like project in Yuen Long:
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Oaktree Capital seizes second Evergrande property in China:
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Evergrande's international creditors threaten legal action over 'opaque' restructuring process:
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China’s central bank says Evergrande is unique and most real estate developers are stable:
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China Home Sales Slump Deepens as Easing Shows Little Effect:
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China debt concerns mounting as Beijing shifts attention to hidden local government financing:
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Property Crisis Means Chinese Cities Sell Land to Themselves:
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Goldman Flags $8.2 Trillion Threat Worse Than China Evergrande:
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China's economy surpasses the European Union's for the first time:
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This chart shows how China will soar past the U.S. to become the world’s largest economy by 2030:
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