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Chinese real estate companies are defaulting on their international bonds en masse and CN government has shown no interest in bailing them on that end.
by wallaBBB 4y ago
Chinese real estate companies are defaulting on their international bonds
en masse and CN government has shown no interest in bailing them on that end.
- thematrixturtle 4y agoBetter to be backed by overvalued, sketchy physical real estate than nothing at all (see also: TerraUSD).
- jimmydorry 4y agoThey are backed by companies with near-zero or less than zero valuation (liabilities > assets). Many of these companies that are defaulting have no money on hand but have already sold apartments that they have not even started building yet. They are equivalent to a crypto that the market has lost faith in (both are worth nothing).