Sep.22 — Dinny McMahon, creator of “China’s Nice Wall of Debt” and an analyst at Trivium China, discusses China Evergrande Group’s debt woes. Evergrande stated it resolved a home bond coupon due Thursday. The main target has shifted to a $83.5 million curiosity fee additionally due Thursday on a five-year greenback notice. McMahon speaks with Haidi Stroud-Watts and Shery Ahn on “Bloomberg Dawn: Australia.”
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The commies bailed out the capitalists 😂 crony capitalism at its best.
Commies are a larp
Our hostess has put on some weight. Is she pregnant or just a Covid by product
Short the yuan = huge profits
Protect the Chinese communist party at all costs. Everyone and everything else, can eat sh!t.
China will do what it wants.
so buy evergrande shares say less
so leftover evergrade projects will become tofu projects
How about soho?
Everything is within the plan of 'Common Prosperity'
Do what they didn’t do in 2008… send the guilty to prison.
So foreign debt holders are basically out of luck and this could be the cross-default contagion that cascades into a possible swan event.
lol china plan this for 30 years
China should have used 2020 COVID19 outbreak as an excuse to deleverage in March 2020.
China needs to save their own citizens. Stakeholders and investor needs to take a hit.
I wonder this effect the covid backstory..
Just wait until they don't bail out all those foreign bonds
Edit: Completing the houses 😂 is this dude stupid or what
Yummy. Preserved Tofu.
Bail out the ordinary buyers but not the investors.
"We will start a restructuring program"
Evergrande is not the only company
The Top 10 Real estate companies will be in defaul too.
Ok this is pretty good. I don't like the CCP but they do the right thing and this deserve a praise.
Good job xi Jinping!
Jai Hinduja. No bailout and printing out of thin air. Billionaire owners and foreign bondholders will have to take a big haircut probably a baldy eagle style.
CCP will takeover EVERGRANDE
Forgot to mention the physical hazard the Chiefs of Evergrande face…long stretches in jail or a bullet in the back of the head; not to mention confiscation of family wealth.
Anyone play SC?
China = Zerg
"You ran out of minerals".
"Your vespene gas has been depleted".
Time to search out new territory to seize.
GOLD IS SAFE INVESTMENT THAN CRYPTO
They will bail out the locals but western asset management companies with massive exposure to Evergrande like Vanguard, Blackrock, HSBC, etc. are screwed.
I'm laughing my head off at Wall Street and corporate America still investing and dumping their money in China. They are gonna get what they deserve — massive losses and bad debts.
Evergrande is just the tip of the iceberg. The next gonna fall are Sunac, Vanke, Soho, etc.
I think we have to step away from making analogies with past American situations. putting aside judgements about good or evil ,They have options on how to approach this that other governments don't because they don't always have to respect the private sovereignty of corporations/private property. rather than just "bail out", or "let fail" they have the option of forcibly seizing all its assets selling them off progressively to minimize price disruption. jailing the management. and picking and choosing the remaining projects for completion or defaulting on a project by project basis dependent on profitability, or doing favors for powerful people. thus "punishing" bad actors/the overleveraged in the way they want to demonstrate, and minimizing potential chain reactions. I think we really get ourselves stuck in thinking like "how would WE handle it" without considering how differently they're able to operate.
PEACE
PROSPERITY
BONANZA
FREE THINKING
HUMANITY UNITED
PEACE
PROSPERITY
BONANZA
FREE THINKING
HUMANITY UNITED
Could someone explain why bondholders are expected to take a haircut? In the event of insolvency aren't they high on priority?
From what I see the total bond debt is 26billion which can be covered easily with it's assets.
l invested in AVAX and SOLANA
If they help this company other companies dont worry if they dont pay thier loans installment coz they know the china government will bailout them
An iceberg; tip of an iceberg. Haircut towards bonuses and borrowing habits in china.
CCP has successfully stolen all these people’s hard earned money. You know it, we all know.
Greed of capitalism! Imagine if Ant was allowed to list at an inflated valuation .
I am ready to invest in evergrande
C vid collapse is come everything is going to plan
The solution is simple, let evergrande go down. The government reclaim and buy those projects at a discount and turn them into social housing.
.Chinese Govt. had been encouraging Chinese
public to invest in Shares. Share Markets are derivatives of Public
Limited Companies meaning the very core of Capitalism.
In Annual General Meetings One Share means One Vote Chinese Govt. is very
autocratic. No Multi Party system . No Free Elections. A sort of Police
State. No One Man One Vote.
Further, China has no real Transparency. Its economic figures like GDP /
Growth rates can be fudged . It is hidden behind a Bamboo Curtain
Maybe all the Chinese will have a free home.
It's not a question of bailing out anybody. You sieze Evergrands assest. Sell off the areas that are profitable as independent companies. Then use the assets to first complete Evergrands projects for customers whove already paid for their property. Then repay the bond with what ever remains.
You'll wind down Evergrand in a year and investors will take a loss this what happens you invest in bad companies you lose money. And that will get people to account for risks in the Chinese real-estate markets going forward.
ah the chinese CCP… they are so generous…. they keep giving us gifts that keeps giving… C19 and now evergrande…
evergrande..nothing to see here…but ban bitcoin!!!!!!!!!! lol
Investing in china is financial suicide