The New Dark Age

'Socialism or Barbarism'

Evergrande Group

  • China at a turning point?

    The debt problems afflicting China’s real estate market deepened this week after another property developer defaulted on its bonds and the world’s most heavily indebted property group Evergrande extended a suspension of its shares into a second day without explanation. Fantasia Holdings, a mid-sized developer, that just weeks ago assured investors it had “no liquidity issue”, said… Continue reading

  • China: Not so Evergrande

    China’s Evergrande Group is the second largest property developer in China and it is teetering on the brink of bankruptcy.  Evergrande has hired ‘restructuring advisers’ and warned that its liquidity is under “tremendous pressure” from collapsing sales, facing protests by home buyers and retail investors.  Based in Shenzhen in southern China, Evergrande is saddled with almost Rmb2tn… Continue reading

    ,