▲ 296 ▼ What the collapse of a company owing $300 billion means for the world (www.businessinsider.com) submitted 2 years ago by Ninjazzon@infosec.pub to c/world@lemmy.world 79 comments fedilink hide all child comments A Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted property developer. Evergrande has assets of about $245 billion, but owes about $300 billion. Its demise is a "controlled collapse," but still raises systemic risk and will hurt investors, says an analyst.
[–] CluelessLemmyng@lemmy.sdf.org 12 points 2 years ago (4 children) How did it get so bad? Is there a tl;Dr anywhere that explains it fully? permalink fedilink source parent hideshow 8 child comments replies: [–] OhmsLawn@lemmy.world 17 points 2 years ago (1 child) This is from Economics Explained two years ago. It basically explains the whole thing, but it isn't really a TLDR. https://www.youtube.com/watch?v=lbH_8Nj51HU If that's too long, Peter Zeihan recently gave a fair summary in a six-minute video. https://www.youtube.com/watch?v=JD3m6U6g53k permalink fedilink source parent hideshow 2 child comments replies: [–] PipedLinkBot@feddit.rocks [B] 5 points 2 years ago Here is an alternative Piped link(s): https://www.piped.video/watch?v=lbH_8Nj51HU https://www.piped.video/watch?v=JD3m6U6g53k Piped is a privacy-respecting open-source alternative frontend to YouTube. I'm open-source; check me out at GitHub. permalink fedilink source parent [–] aew360@lemm.ee 9 points 2 years ago I think it’s something like: CCP controls what investments citizens make. CCP wants to expand infrastructure and build up a lot of properties. The company gets overfunded. CCP also implements one child policy for like, idk four decades. Not enough people to live in all the properties they built that never relied on market demand. permalink fedilink source parent [–] Pistcow@lemm.ee 7 points 2 years ago It's a ponzi sceme with extra steps permalink fedilink source parent [–] tsonfeir@lemm.ee 1 point 2 years ago Maybe they bought too many houses in the US and can’t rent them for 5000/m permalink fedilink source parent
[–] OhmsLawn@lemmy.world 17 points 2 years ago (1 child) This is from Economics Explained two years ago. It basically explains the whole thing, but it isn't really a TLDR. https://www.youtube.com/watch?v=lbH_8Nj51HU If that's too long, Peter Zeihan recently gave a fair summary in a six-minute video. https://www.youtube.com/watch?v=JD3m6U6g53k permalink fedilink source parent hideshow 2 child comments replies: [–] PipedLinkBot@feddit.rocks [B] 5 points 2 years ago Here is an alternative Piped link(s): https://www.piped.video/watch?v=lbH_8Nj51HU https://www.piped.video/watch?v=JD3m6U6g53k Piped is a privacy-respecting open-source alternative frontend to YouTube. I'm open-source; check me out at GitHub. permalink fedilink source parent
[–] PipedLinkBot@feddit.rocks [B] 5 points 2 years ago Here is an alternative Piped link(s): https://www.piped.video/watch?v=lbH_8Nj51HU https://www.piped.video/watch?v=JD3m6U6g53k Piped is a privacy-respecting open-source alternative frontend to YouTube. I'm open-source; check me out at GitHub. permalink fedilink source parent
[–] aew360@lemm.ee 9 points 2 years ago I think it’s something like: CCP controls what investments citizens make. CCP wants to expand infrastructure and build up a lot of properties. The company gets overfunded. CCP also implements one child policy for like, idk four decades. Not enough people to live in all the properties they built that never relied on market demand. permalink fedilink source parent
[–] Pistcow@lemm.ee 7 points 2 years ago It's a ponzi sceme with extra steps permalink fedilink source parent
[–] tsonfeir@lemm.ee 1 point 2 years ago Maybe they bought too many houses in the US and can’t rent them for 5000/m permalink fedilink source parent