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They seem to be aware of the dangers of perverse market incentives and they also know the real estate market is completely shot. Propping up Evergrande doesn't
by Sakos 3y ago
They seem to be aware of the dangers of perverse market incentives and they also know the real estate market is completely shot. Propping up Evergrande doesn't fix the underlying issues while letting it fail would not just wipe out the wealthy, it would have severe negative impact on the middle class and everybody working in construction.
People here are all "let it fail" and don't seem to care about how many millions of people would be drastically affected. These are people's lives we're talking about. Stop waving it away as if it doesn't matter. The callousness here is appalling.
Also, don't look at what some politician says, regardless of country. What's important is what they do about perceived issues.