The story of China Evergrande Group's epic crash and its impact on everyone in China
In 2020, one of the world’s most heavily traded bonds was a 2025 note for China Evergrande Group. Investors loved the debt of the Chinese real estate conglomerate for several reasons: It was liquid; it was tied to one of the biggest companies in the country; and it gave them a piece of the world’s second-largest economy. It also heralded a major transition for China , symbolizing an era of turbocharged growth that had put it on a path to one day surpass the US.
No longer was the country going to be merely a factory to the rich world—it would have its own consumerist middle class, with beautiful apartments and all the furniture, appliances and electronics to go in them. Evergrande was building that dream, apartment tower by apartment tower—along with theme parks and business lines in bottled water, electric vehicles, health-careservices and even a soccer club. Now the Evergrande bond trades for pennies on the dollar, and its fate tells the story of an epic crash that’s affected everyone in Chin
China Evergrande Bond Crash Real Estate Economy
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Group Raises Concerns Over Underreporting of Sexual Harassment in Philippine SchoolsA group called Enough is Enough has raised concerns about the underreporting of sexual harassment incidents in Philippine schools. The group claims that the Department of Education's student safety hotline has only received 70 complaints since 2022, which they believe is an understatement. They argue that DepEd needs to do more to create an environment where victims feel encouraged to report incidents.
Read more »
Group files petition to declare transfer of ₱125M to VP's office as unconstitutionalA group of lawyers, constitutional experts, and economists filed a petition before the Supreme Court to declare the transfer of ₱125 million confidential funds to the Office of the Vice President (OVP) in 2022 as unconstitutional. The group also asked the high court to order the OVP to return the money to the Treasury.
Read more »
Consumer Advocacy Group Urges Senate to Pass Bills Protecting Creative Workers and Consumers from Online PiracyConsumer advocacy group CitizenWatch Philippines urges Senate to prioritize passage of bills protecting creative workers and consumers from online content piracy. Former lawmaker Christopher Belmonte emphasizes the need to act fast in passing the Online Site Blocking Act to uplift the local creatives industry. Pending bills seek to amend and strengthen the Intellectual Property Code of the Philippines.
Read more »
SM Group Employees Spread Christmas Cheers Through Volunteer ProgramSM group employees participate in the Christmas Cheers gift-giving initiative as volunteers, spreading social good and creating meaningful contributions in communities.
Read more »
Transport Group Warns of Transportation Crisis in CebuA local transport group warns that Cebu will suffer from a transportation crisis if the government does not postpone or cancel the mandatory consolidation policy under the PUV Modernization Program.
Read more »