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The Chinese government is cracking down on debt-fueled property developers.

• eru 4y ago
  Well, they are also doing the opposite again, now. They are pushing for more development to keep the economy going. It's all a mess.
• kwere 4y ago
  too late, evergrande is already defaulting on 350 billion $, other companies cant finish construction mandated by government, suppliers dont give credit anymore, people are ansioux to buy "homes on paper" (RE devoleper financing vehicle), homebuyers on unfinished homes are freezing mortage payment at record numbers due to completition challenges (these are literally personal loans with heavy penalties). The central gov will have to squander trillions of RMB to clean this mess and fast. the reactionary & corrupt friendly nature of officials showed its results