Evergrande posts losses of $81 billion over two years as it reports long-delayed results

[ETJ]

OUCH!

https://www.cnn.com/2023/07/18/inve...GzqZZNOBSXpYVoojD96MX+Fml&bt_ts=1689714105353

 

[Overnight]

OUCH!

https://www.cnn.com/2023/07/18/investing/china-evergrande-losses-intl-hnk/index.html?utm_term=16897141053500ea048ee904a&utm_source=cnn_Markets+Now+2023&utm_medium=email&bt_ee=OPTSh9PreeklU5/PMmidx3V7KG0F7CUfIKH3/TlGzqZZNOBSXpYVoojD96MX+Fml&bt_ts=1689714105353

That's a pretty good reason for kicking the can down the road. Do the Chinese push CEOs out of windows?

 

[lx008]

Seems not, those banks will more likely protect those CEOs as VIPs so they can continue to pay the debts.

 

[mervyn]

Materially, Evergrande saga has no long term effect. Debts were exchanged to many tangibles (i.e. buildings, infrastructure, wages, etc), and some wastes, and higher level of living standards, at least in housing.

Wealth built, wealth vanished, it is a cycle. Remember the Carnegies? Family fortune has largely vanished, his lineages are in white color professions. But he left some very good philanthropic projects.